Economy

• Monday, February 14th 2011 - 15:53 UTC

  China’s trade surplus drops considerably in January ahead of G-20 meeting

  

  China's trade surplus fell to its lowest in nine months in January after imports surged, supporting the government's case ahead of a G20 meeting that it is doing enough to spur domestic demand without speeding up currency appreciation.

• Monday, February 14th 2011 - 15:42 UTC

  Russia’s massive privatization drive takes off with sale of stake in main bank

  

  Russia has raised 96 billion roubles (3.3 billion USD) from the sale of a 10% stake in the country's second biggest bank, VTB. The sale marks the start of the government's huge privatisation drive aimed at raising 1 trillion roubles over three years.

• Monday, February 14th 2011 - 15:39 UTC

  Strong demand for Chilean lamb; exports reach 32 million USD in 2010

  

  Chilean lamb and mutton 2010 exports mostly from Magallanes Region in the extreme south of the country increased 17% over the previous year according to the country’s Agriculture Studies and Policies Office, Odepa.

• Monday, February 14th 2011 - 14:54 UTC

  Obama proposes drastic budget cuts; goal: 3.2% of GDP deficit by 2015

  

  President Barack Obama proposed a budget that would cut the US deficit by 1.1 trillion US dollars over 10 years, setting the stage for a bitter fight with the opposition Republicans who vow even tougher spending controls.

• Monday, February 14th 2011 - 09:10 UTC

  China, second largest copper producer in 2010, ahead of the US and Peru

  

  Chile’s Copper Commission (Cochilco) has predicted that China became the world’s second largest copper producer in 2010, overtaking the United States and Peru.

• Monday, February 14th 2011 - 05:48 UTC

  Alleging national security, China plans to review foreign attempts to buy local companies

  

  China is launching a body to review foreign attempts to buy local companies in a move that might add to strains over access to its markets.

• Monday, February 14th 2011 - 03:49 UTC

  Kirchner told banks to “make cheap loans and mortgages” in 2007 presidential campaign

  

  The Spanish newspaper El Pais published new Wikileaks cables of the US embassy which mention the relationship between Argentina’s Kirchners ruling couple and the banks especially during the period previous to the presidential election of Cristina Fernández de Kirchner (2007).

• Monday, February 14th 2011 - 03:36 UTC

  Argentines accept inflation is in the range of 25%, but divided on the causes

  

  A majority of Argentines, 74%, believes that inflation is harming their finances and a similar percentage, 74%, considers the administration of President Cristina Fernandez de Kirchner is hardly interested in the issue, according to a public opinion poll published Sunday in Buenos Aires La Nacion.

• Saturday, February 12th 2011 - 08:08 UTC

  IMF calls for fiscal austerity in South America but admits “dilemmas”

  

  IMF warned inflation is threatening South America but also admitted countries had a dilemma since increasing interest rates could further worsen the appreciation of local currencies vis-à-vis the US dollar.

• Saturday, February 12th 2011 - 05:31 UTC

  Brazil and Argentina will reject ‘commodity prices regulation’ at G20

  

  Brazil and Argentina came out Friday against a French proposal to be put to the G20 to regulate commodity prices whose recent rises are blamed for a spike in food costs.