Economy

• Wednesday, March 9th 2011 - 05:22 UTC

  Oil prices ease as OPEC begins talks to increase output replacing Libya

  

  Oil dropped for a second day in New York as members of the Organization of Petroleum Exporting Countries considered talks about increasing production because violence is disrupting supplies from Libya.

• Wednesday, March 9th 2011 - 04:40 UTC

  EC tries to downplay impact for farmers of an EU/Mercosur trade agreement

  

  A trade agreement with Mercosur should not have to destroy the European beef industry, said on Tuesday a spokesperson for the European Community who added that such fears are ‘exaggerated’.

• Wednesday, March 9th 2011 - 01:39 UTC

  European Parliament highly critical of EU/Mercosur trade talks

  

  The European Parliament passed a highly critical report on trade negotiations between the EU and the Mercosur bloc for considering that they may imply “farming concessions damaging to European producers.”

• Wednesday, March 9th 2011 - 01:36 UTC

  IMF nominates Egyptian national Deputy Managing Director

  

  Ms. Nemat Shafik, a national of Egypt and the UK has been nominated to the position of Deputy Managing Director of the International Monetary Fund. She will succeed Mr. Murilo Portugal, who resigned effective March 4, 2011.

• Tuesday, March 8th 2011 - 22:39 UTC

  China admits “labour surplus” of 32 million, 14 million of which college graduates

  

  China, normally contrary to releasing unemployment figures, has admitted to having a “labour surplus” of 32 million workers, according to Human Resources and Social Security minister Yin Weimin.

• Tuesday, March 8th 2011 - 04:52 UTC

  Chile’s Concha y Toro acquires California’s Fetzer Vineyard

  

  Chile’s Concha y Toro, Latin America’s largest wine producer, sealed a deal this week with Brown-Forman’s Fetzer Vineyards in a transaction worth 238 million US dollars to purchase its portfolio of American wine brands. The sale is expected to close in April 2011.

• Tuesday, March 8th 2011 - 02:05 UTC

  Uruguayan investors purchased 1.1 million hectares in the Paraguayan Chaco

  

  Uruguayan investors have purchased an estimated 1.1 million hectares in the Paraguayan Chaco, (heartland of landlocked Paraguay) in spite of the fact land prices have quadrupled in the last two years. The record year was 2010 with 200.000 hectares.

• Tuesday, March 8th 2011 - 02:02 UTC

  Falklands’ pristine stacks and bluffs illustrated by Tony Chater in stamps issue

  

  Illustrations of some of the least accessible spots in the Falkland Islands are featured in the third series of “Stacks and Bluffs” postage stamps, released last week by Pobjoy Mint.

• Tuesday, March 8th 2011 - 00:04 UTC

  Food prices have soared most in Venezuela, Bolivia and Argentina

  

  Venezuela, Bolivia and Argentina are the three Latinamerican countries where food prices have climbed the most during the twelve months of 2010, according to official regional statistics.

• Monday, March 7th 2011 - 23:52 UTC

  Punta Arenas equally competitive to Ushuaia for the 2012/13 cruise season

  

  Chilean authorities anticipate that for the season 2012/13, Punta Arenas will be in favourable conditions to compete with neighbouring Ushuaia in Argentina. This follows on Chilean initiatives to cut operation costs for cruise vessels dramatically and the lifting of the ban on floating casinos.