Economy

• Thursday, May 12th 2011 - 19:12 UTC

  Japan’s current account surplus falls 34.3% in March, because of tsunami

  

  Japan's current account surplus fell by 34.3% in March compared with the same month a year ago, after a massive quake and tsunami devastated exports, according to the latest release from the Ministry of Finance.

• Thursday, May 12th 2011 - 18:32 UTC

  Brazilian president promises land reform and distribution for family settlers

  

  Brazilian president Dilma Rousseff claimed that land reform was needed to eradicate poverty, avoid overcrowding in urban areas and as a matter of justice for the long delayed distribution of land.“

• Thursday, May 12th 2011 - 16:46 UTC

  EU votes for mandatory labeling or real fur or leather content in textiles

  

  Consumers will no longer risk inadvertently buying textiles that contain real fur or leather, thanks to new textile labeling rules approved by the European Parliament.

• Thursday, May 12th 2011 - 06:19 UTC

  One third of world food production for humans gets lost or wasted, says FAO

  

  Roughly one third of the food produced in the world for human consumption every year — approximately 1.3 billion tons — gets lost or wasted, according to an FAO-commissioned study.

• Thursday, May 12th 2011 - 06:02 UTC

  Uruguay raises banks reserve requirements to contain inflation

  

  In an effort to contain inflation and cool an overheated economy Uruguay will raise reserve requirements for banks “given the domestic prices increase and the international context” advanced Central Bank president Mario Bergara.

• Thursday, May 12th 2011 - 05:59 UTC

  China’s inflation eases in April but food costs are scaring the Communist party

  

  China's surging inflation eased slightly in April as Beijing tightened controls to cool its overheated economy. Consumer prices climbed 5.3% over a year earlier, driven by an 11.5% jump in food costs, data showed Wednesday.

• Thursday, May 12th 2011 - 00:48 UTC

  EU/Mercosur trade talks remain at “technical level and delayed until end of the year”

  

  Reports from the European Union and Mercosur confirm that negotiations for a trade agreement remain at ‘technical level’ and no information will be forthcoming until both sides have agreed on the lists of products to be exchanged.

• Wednesday, May 11th 2011 - 08:00 UTC

  Chile will become first develop country in Latam, says world’s richest man

  

  Chile will become the first developed country in Latin America, predicted Mexican communications mogul Carlos Slim, the richest man in the world, in an economic presentation given in Honduras last Thursday.

• Wednesday, May 11th 2011 - 07:46 UTC

  Brazil’s oil giant Petrobras the most valuable brand in Latin America

  

  Brazil’s oil and gas corporation Petrobras was ranked first in a new listing of the most valuable brands in Latin America, with an estimated brand value of 13.4 billion US dollars.

• Wednesday, May 11th 2011 - 01:30 UTC

  Brazil expects a new record crop totalling 158.7 million tons

  

  Brazil will harvest this year a record crop of 158.7 million tons, 6% higher than last year’s 149.7 million tons, according to the latest release from the country’s Geography and Statistics Institute, IBGE.