Economy

• Thursday, March 3rd 2011 - 06:25 UTC

  Latam must prepare for ‘major prices’ fluctuations warn food organizations

  

  Food price volatility has increased in recent months and will remain high for the time being, according to a joint bulletin launched today by ECLAC, FAO and IICA.

• Thursday, March 3rd 2011 - 06:19 UTC

  Fearing overheated economy Brazil raises basic interest rate 50 points to 11.75%

  

  Brazil’s Central bank on Wednesday raised its benchmark overnight rate by a half-point for a second straight meeting to cool inflation that is approaching the upper limit of the government’s target range.

• Thursday, March 3rd 2011 - 05:55 UTC

  Argentine has ‘liberated’ 75% of retained import licences says Uruguayan minister

  

  Uruguay’s cabinet meeting spokesperson confirmed Wednesday that Argentina had “liberated” 75% of the import licences that remained delayed and which was one of the main points of the agenda in the recent summit between Uruguayan president Jose Mujica and Argentina’s Cristina Fernandez de Kirchner.

• Thursday, March 3rd 2011 - 05:46 UTC

  IMF chief praises Uruguay, cautions good times are not for ever

  

  IMF Managing Director Dominique Strauss-Khan praised the management and achievements of the Uruguayan economy and said it was a pleasure to visit a country that does not have major problems resulting from the 2008 global financial crisis, which is a “recurrent issue” of his busy agenda.

• Thursday, March 3rd 2011 - 05:18 UTC

  US inflation ‘under control’; jobs insufficient to absorb new graduates, says Bernanke

  

  The recent hike in oil prices will likely cause a “temporary and relatively modest increase in U.S. consumer price inflation,” but sustained increases could pose a more serious threat to the economy, Federal Reserve Chairman Ben Bernanke said earlier this week.

• Wednesday, March 2nd 2011 - 17:44 UTC

  New Irish government gauges ‘potential damage’ of Mercosur/EU trade talks

  

  Mercosur negotiations and Ireland’s share of the EU agriculture spending are seen as the main challenging demands for the new Agriculture minister of the Fine Gael-Labour coalition government in Dublin.

• Wednesday, March 2nd 2011 - 17:36 UTC

  Unemployment up in Spain: 4.3 million registered as out of a job

  

  The number of people out of a job Spain, which has the highest unemployment rate in the industrialized world, rose further in February reaching a 15 year high, the Labour ministry said Wednesday.

• Wednesday, March 2nd 2011 - 17:24 UTC

  EU competition regulators raid companies selling digital books

  

  European Union's competition regulators carried out unannounced inspections into various companies that sell digital books on Tuesday on suspicion of operating a cartel and engaging in other banned business practices.

• Wednesday, March 2nd 2011 - 17:21 UTC

  Insurers’ bill for the New Zealand earthquake climbs to 12 billion USD

  

  One of the world's biggest re-insurers Swiss Re described the New Zealand earthquake as a ''significant event'' for the global insurance industry, as it warned insurance losses from the disaster could top 12 billion US dollars.

• Wednesday, March 2nd 2011 - 17:14 UTC

  Car sales soar in the US during February, particularly GM and Toyota

  

  Sales of new vehicles jumped markedly in the United States in February, with sales by the world's two biggest automakers up the most.