Economy

• Wednesday, April 20th 2011 - 00:49 UTC

  First Brazilian pre-salt oil shipment to Chile in mid May

  

  Petrobras, Brazil’s state-controlled oil producer will export its first cargo from the country’s second-largest crude field to Chile in mid-May.

• Tuesday, April 19th 2011 - 17:30 UTC

  Uruguay admits to IMF concern over inflation, but rejects capital flow controls

  

  Uruguay’s concern with inflation risks and instruments to ‘mitigate’ its impact was underlined by the region’s representative at the IMF Monetary and Financial Committee meeting in Washington where the IMF and World Bank are holding their spring meetings.

• Tuesday, April 19th 2011 - 14:04 UTC

  IMF pounds at emerging and developed countries, but forgets self-criticism

  

  The IMF criticized developing countries for not responding strongly enough to the surge of hot money into their markets, saying the result could be a hard economic landing.

• Tuesday, April 19th 2011 - 14:00 UTC

  Geithner warns US budget trimming battle in Congress has a deadline

  

  United States Treasury Secretary Timothy Geithner said he was confident Congress would raise the country’s debt limit and that it may need to do so before a deal is reached to rein in future budget deficits.

• Tuesday, April 19th 2011 - 04:18 UTC

  Canadian company ready to begin exploiting lithium in north Argentina

  

  Canadian miner Lithium Americas Corp said it plans to start building a lithium carbonate facility next year at its Cauchuri project in the Argentine province of Jujuy. The plant with a total capacity of 40,000 tons per annum is expected to start adding to the company's revenue in 2014, Lithium Americas said in a statement.

• Tuesday, April 19th 2011 - 04:09 UTC

  Argentine footwear industry planning to make 200m pairs by 2020

  

  Argentina's footwear industry hopes to make 200 million pairs and export 50 million shoes as part of new strategic growth plan by 2020, according to officials at leading trade federation Camara de la Industria del Calzado (CIC).

• Tuesday, April 19th 2011 - 03:51 UTC

  What is behind Brazil’s high rates: loose fiscal policy, low savings or politics

  

  With Brazil’s benchmark interest rate at 11.75% and prospects of further increases Latin America’s largest economy poses a challenge to economists and analysts. The answers are not only economic but also political.

• Tuesday, April 19th 2011 - 02:09 UTC

  Argentina’s economic activity indicator jumped 8.7% in February

  

  Argentina's February monthly economic activity indicator, or EMAE, jumped 8.7% on the year and was up 0.4% on the month, the national statistics agency Indec reported Monday. The EMAE comprises most components of gross domestic product.

• Tuesday, April 19th 2011 - 01:39 UTC

  BMW suspends car exports to Argentina because of import restrictions

  

  Argentina's economy is among the fastest-growing in the world, but that may be little consolation to the country's luxury-car fans that have lost access to the world's best-selling premium car.

• Tuesday, April 19th 2011 - 01:35 UTC

  Argentine imports’ substitution helps March industrial production expand 9.2%

  

  Spurred by strong support from the government, Argentina's industrial production in March jumped 9.2% on the year according to a Monday release from economic advisors Orlando J Ferreres & Asociados, OJF.