Economy

• Tuesday, April 5th 2011 - 09:42 UTC

  IMF begins to work in Argentina in the elaboration of a new cost of living index

  

  International Monetary Fund (IMF) staff arrived Monday at Argentina’s Statistics Bureau, Indec headquarters in Buenos Aires to meet with its chief Ana María Edwin and its Director Norberto Itzcovich and begin the elaboration of a new cost of living index.

• Tuesday, April 5th 2011 - 09:25 UTC

  US government and Republicans clash over legal debt limit and budget cuts

  

  United States will reach its 14.29 trillion US dollars legal debt limit no later than May 16 unless Congress acts before then, Treasury Secretary Timothy F. Geithner said on Monday warning of “severe hardship” if lawmakers fail to act.

• Tuesday, April 5th 2011 - 09:18 UTC

  Crude at highest in 30 months pushed by US recovery and political turbulence

  

  Oil climbed to the highest level in 30 months in New York on Monday on speculation that US economic growth may support demand and a protracted conflict in Libya will curtail supply.

• Tuesday, April 5th 2011 - 08:53 UTC

  Brazil’s Vale yields to government pressure names new CEO

  

  Brazilian mining giant Vale, the world's biggest producer of iron ore, has chosen a new chief executive. Former Vale executive Murilo Ferreira will return to the company on 22 May.

• Monday, April 4th 2011 - 07:17 UTC

  Mujica promises businessmen economic policy to remain on course and reliable

  

  Uruguayan president Jose Mujica ratified this weekend before 1.200 businesspeople that his administration will keep the course and ‘reliability’ of the current economic policy, although this will not impede “changes that may surface consequences of the moment”.

• Monday, April 4th 2011 - 06:44 UTC

  Paraguay’s 2010/11 soy bean crop could reach 8.4 million tons

  

  Paraguay’s 2010/11 soy bean crop covers 2.830.000 hectares (twice the area ten years ago) and the expected yield is between 2.900 and 3.100 kilos per hectare according to the latest satellite pictures in hands of the Paraguayan Chamber of Grains and Oilseed Exporters, Capeco.
  So far the record yield dates back to 2003 with a national average of 2.915 kilos.

• Monday, April 4th 2011 - 04:21 UTC

  FAO calls on Asia to tighten FMD controls; outbreak reported in Taiwan

  

  The United Nations Food and Agriculture Organization, FAO called for veterinary and border control authorities in Asia to be on alert for animals showing signs of Foot and Mouth Disease, FMD. The request follows on South Korea’s culling millions of livestock and vaccinating millions more to stop the spread of FMD, while North Korea also is responding to an outbreak of the disease.

• Monday, April 4th 2011 - 01:52 UTC

  Maersk to build and operate 1.1 billion USD pier in Peru’s main port

  

  The world’s largest container shipping line, Moeller-Maersk A/S, won a contract to build and operate a 1.1 billion US dollars pier at Peru’s largest port, the government announced in Lima.

• Saturday, April 2nd 2011 - 18:47 UTC

  Desperate call from FAO for aid to North Korea to combat spread of FMD

  

  Around one million US dollars of equipment and vaccines are urgently needed to help stem outbreaks of foot-and-mouth disease (FMD) in North Korea, where farm animals are crucial to food security, the United Nations warned.

• Saturday, April 2nd 2011 - 17:43 UTC

  FMD outbreak in South Korea under control, but Seoul now faces bird flu

  

  South Korea is moving to stem future cases of bird flu as foot-and-mouth disease (FMD) outbreaks have been largely put under control, the government.