Economy

Thursday, January 6th 2011 - 20:16 UTC
Chile’s measures to weaken the Peso are working in the short term

Chile's peso was operating Thursday at 495 to the US dollar after depreciating around 6% in two sessions on a 12 billion US dollars central bank intervention program announced this week.
Thursday, January 6th 2011 - 13:00 UTC
Uruguay exports soar 23.8% in value during 2010 over the previous year

Uruguayan exports soared 23.8% in value during 2010 compared to 2009 which represent a new record according to the country’s Union of Exporters. Sales totaled 6.76 billion US dollars while imports to the month of October (the latest Central Bank officially available data) reached 6.7 billion USD, which represent a 18.6% increase in the first ten months of last year.
Thursday, January 6th 2011 - 12:56 UTC
Cuban trade unions “guarantors” of the elimination of 500.000 state jobs

Layoffs planned to eliminate some 500,000 state jobs in Cuba this year got underway this week, according to the island’s only legal workers’ organization. The official weekly Trabajadores cited a speech by CTC chief Salvador Valdes in the eastern province of Holguin, in which he said it was the union’s responsibility to “be the guarantor” of the process of labour reorganization.
Thursday, January 6th 2011 - 12:46 UTC
Bolivia back steps and offers new deal to attract foreign oil companies

President Evo Morales’ government has offered to reimburse 100% of the cost of successful exploratory drilling in Bolivia by private oil and natural gas companies, state-owned energy company YPFB announced this week.
Thursday, January 6th 2011 - 12:42 UTC
Future Chinese PM promises full financial and economic support for Spain

China has confidence in the Spanish financial market and will continue buying bonds issued by Spain’s government, Beijing’s Deputy prime minister said in an op-ed published in Madrid daily El Pais.
Thursday, January 6th 2011 - 12:25 UTC
Korea resorts to vaccination to combat foot and mouth epidemic

Overwhelmed by the rapid spread of foot and mouth disease FMD the South Korean government announced that it will vaccinate pigs, cows and all other cloven hoofed animals. The decision came after the highly contagious virus has turned into a nationwide epidemic, with livestock farms in the eastern province of Gangwon falling victim to the deadly disease.
Thursday, January 6th 2011 - 12:19 UTC
Magallanes has the lowest unemployment rate in Chile

Magallanes in the extreme south of Chile became the region with the lowest unemployment in the country during the September-November quarter. According to the official Chilean statistics office the jobless rate in Magallanes dropped to 4.1% compared to the national 7.1%.
Thursday, January 6th 2011 - 12:05 UTC
Record prices for copper plummet the US dollar to new lows against Chilean Peso

The US dollar ended 2010 at a record low vis-à-vis the Chilean peso which has soared on the strong global demand for copper, the country’s main export. On Friday December 31st the US dollar was operating at 467.30 and 467.80 in Santiago’s money markets, which is the lowest since May 19, 3008 with 467.40.
Thursday, January 6th 2011 - 11:56 UTC
Gold forecasted to break above 1.500 USD in 2011 after 29% rise in 2010

Gold closed 2010 with its strongest annual performance since 2007 and marking a fifth straight month of gains in December, driven by a weaker dollar and global economic uncertainty.
Thursday, January 6th 2011 - 11:48 UTC
Cuban reforms on the move: soap and toothpaste eliminated from monthly ration

Cuba’s government, trying to save money and eliminate subsidies announced this week it will remove soap, toothpaste and detergent from the monthly ration of food and consumer products it has handed out since the early days of the Cuban revolution.