Economy

• Tuesday, January 11th 2011 - 22:08 UTC

  Inflation forces Argentina to urgent import of note bills from Brazil

  

  A shortage of bills that has led to lines and protests outside Argentine banks since mid-December may be resolved by next week after the country boosted imports of notes printed in Brazil.

• Tuesday, January 11th 2011 - 22:03 UTC

  Car sales in Argentina soar 43% in 2010; exports increase 38%, mostly to Brazil

  

  Total dealership car sales in Argentina rose by 43% year-on-year in 2010, the country's automobile manufacturers association Adefa said. This included both locally-produced cars and imports.

• Tuesday, January 11th 2011 - 21:56 UTC

  German bankers ready for the worst but confident they can cope with the situation

  

  Billions in loans have succeeded in pulling Greece and Ireland back from the brink of bankruptcy. But many bankers are still expecting the worst. A new Ernst & Young survey reports that almost half of German banking executives think at least one Euro-zone country will go bust.

• Tuesday, January 11th 2011 - 21:48 UTC

  Japan committed to stabilize the Euro and ensure growth in EU bilateral trade

  

  Japan is prepared to purchase over 20% of bonds that Euro-zone countries will be jointly issuing with the purpose of defusing tension and propping confidence in the Euro given the presistence of the European sovereign debt crisis, Finance Minister Yoshihiko Noda said on Tuesday in Tokyo.

• Tuesday, January 11th 2011 - 21:38 UTC

  FAO food prices index marks record; threat for global growth and social stability

  

  The United Nation's Food and Agricultural Organization, FAO, global food prices index reached a record high in December, 2010 reported the organization this week. The FAO food index tracks a basket of 55 key food commodities including items such as wheat, cooking oil and fats and sugar.

• Friday, January 7th 2011 - 05:22 UTC

  Falkland Islands: SAAS stoppage, director claims partners pressured

  

  THE planned increased use of containers for the shipment of fish, meat and wool received a blow this week with the news that the Islands’ only shipping service to South America is to end.

• Thursday, January 6th 2011 - 21:13 UTC

  Punta Arenas on strike over a planned 20% gas price hike

  

  The southern Chilean city of Punta Arenas had its largest strike in decades Wednesday in response to a government proposal to increase the price of gas in the region by 20%.

• Thursday, January 6th 2011 - 21:08 UTC

  Second contraction year for Venezuela; 2% expansion forecasted in 2011

  

  Venezuela’s economy contracted 1.9% 2010, marking a second year of recession according to a release from the Central Bank. The economy shrank 3.3% in 2009, but President Hugo Chavez's government said the country is now pulling out of recession and on course for 2% growth in 2011.

• Thursday, January 6th 2011 - 20:48 UTC

  Brazil enforces new reserve requirements to weaken the Real vis-à-vis US dollar

  

  The Brazilian currency Real weakened after the central bank introduced reserve requirements on short positions in U.S. dollars held by local banks with the purpose of weakening the Real which this week reached a historic high against the greenback.

• Thursday, January 6th 2011 - 20:45 UTC

  China to the rescue of Europe confirms purchase of Spanish sovereign debt

  

  Chinese Vice Premier Li Keqiang has said Beijing is willing to buy about Euro 6 billion worth of Spanish public debt, Spanish newspaper El Pais reported on Thursday, citing government sources.