Economy

Friday, March 4th 2011 - 05:56 UTC
China ready to implement lower tariffs to boost imports

China will reduce import tariffs on a range of products and further cut red tape involved in import application procedures, to “maintain balanced trade” according to statements from a senior official to a local newspaper.
Friday, March 4th 2011 - 01:52 UTC
Brazil, the seventh economy of the world and ready to overtake France and UK

Brazil announced Thursday it has become the world’s seventh economy after having expanded 7.5% in 2010, the strongest in 24 years. Brazil’s GDP now stands at 2.1 trillion US dollars with a per capita income of 11.185 USD.
Friday, March 4th 2011 - 01:44 UTC
Argentine striking dock workers block two major grain export terminals

Argentine dock workers blocked two major grain export terminals for a second day on Thursday to press pay demands, but most soy-crushing plants and ports operated normally, the labour cooperative said.
Friday, March 4th 2011 - 01:31 UTC
Bolivia signs gas exploration agreements with Petrobras and Repsol

Bolivia's state-owned oil company YPF Bolivianos said this week that it has signed oil and gas exploration agreements with Brazil's Petrobras and Spain's Repsol.
Friday, March 4th 2011 - 01:20 UTC
Argentine Treasury appeals to government banks to pay debts

Argentina's Treasury will borrow 8.40 billion pesos (2.02 billion US dollars) from state-run Banco Nacion this year to refinance some of its debt with the bank, a top official told state news agency Telam on Wednesday.
Thursday, March 3rd 2011 - 21:56 UTC
FIFA announces 631 million USD profit in 2007/2010

Football's governing body FIFA said Thursday that they had achieved a profit of 631 million US dollars over a four year period starting 2007. FIFA revenue during this period was 4.189 billion USD, while the expenses amounted to 3.558 billion USD, the organisation said in a statement.
Thursday, March 3rd 2011 - 19:14 UTC
Prepare for a “possible” interest rise in Euro zone warns ECB President Trichet

The president of the European Central Bank has said that a rise in Euro zone interest rates was “possible” at its next policy meeting in April. Jean-Claude Trichet said the ECB was “in a posture of strong vigilance” against rising inflation.
Thursday, March 3rd 2011 - 18:54 UTC
Brazil’s basic interest rate forecasted to increase 50 points to 12.25% in April

Brazil Wednesday central bank decision to raise interest rates by 50bps to 11.75% was widely expected but significant for two reasons, according to a report from Capital Economics .
Thursday, March 3rd 2011 - 18:50 UTC
Food prices increase in February for eighth consecutive month, says FAO report

Global food prices increased for the eighth consecutive month in February, with prices of all commodity groups monitored rising again, except for sugar, FAO said on Thursday. FAO expects a tightening of the global cereal supply and demand balance in 2010/11
Thursday, March 3rd 2011 - 18:46 UTC
Brazilian economy expanded 7.5% in 2010; government applies ‘cooling’ measures

Brazil grew at its fastest pace in 24 years in 2010, expanding 7.5% on strong consumer demand but other complementary data also showed the economy is feeling the strains of overheating.