Economy

• Tuesday, February 22nd 2011 - 06:19 UTC

  “Multiple fatalities” as quake strikes New Zealand’s second city at busy mid-day

  

  Rescuers dug frantically for bodies and people trapped after a major 6.3 earthquake caused “multiple” deaths in New Zealand's second city of Christchurch Tuesday, crushing buildings and vehicles.

• Tuesday, February 22nd 2011 - 06:11 UTC

  Ireland main parties’ leaders pledge to condition any trade deal with Mercosur

  

  Leaders of Ireland’s three main parties pledged on Monday to oppose any trade deal with Mercosur countries which could damage Irish exports if EU standards of production are not adhered to, reports the Irish Times.

• Tuesday, February 22nd 2011 - 04:18 UTC

  Uruguay/Argentina working on ‘fast track’ to address trade differences

  

  Uruguay and Argentina are discussing a ‘fast track’ mechanism that will allow Uruguayan exports to have quick access to the neighbour’s market thus avoiding the controversial trade restrictions recently announced by the administration of President Cristina Fernandez de Kirchner and which have surprised Mercosur partners.

• Tuesday, February 22nd 2011 - 03:52 UTC

  FT warns Brazil could be approaching a “US like sub-prime” situation

  

  The Financial Times warns that in spite of the current optimism about the performance of the Brazilian economy, the country could be heading to a ‘sub-prime’ crisis ‘worryingly’ similar to that experienced by the United States.

• Tuesday, February 22nd 2011 - 00:19 UTC

  President Rousseff promises Brazilian economy will speed up in 2012

  

  Brazil’s economy will pick up speed in 2012, said President Dilma Rousseff on Monday addressing northeast governors concerned that recent announced budget cuts could limit economic activity and support for the area that depends from federal handouts.

• Tuesday, February 22nd 2011 - 00:03 UTC

  China raised fuel prices for the second time in three months

  

  China has raised fuel prices for the second time in three months as it looks to offset a jump in global crude costs. However, the move has raised questions over government attempts to slow inflation.

• Tuesday, February 22nd 2011 - 00:00 UTC

  A fatiguing marathon ahead for debt strained Euro zone countries, says ECB

  

  European Central Bank policymaker Axel Weber said that debt-strained Euro zone countries must make the most of the breathing space bought by aid measures and warned them the hardest part of the reform process was still ahead.

• Monday, February 21st 2011 - 17:25 UTC

  Gold above 1.400 USD and silver at 30 year record as investors take refuge

  

  Gold climbed above 1,400 US dollars an ounce to the highest price in almost seven weeks in London as unrest in the Middle East and North Africa spreads. Silver reached a 30-year high and palladium advanced.

• Monday, February 21st 2011 - 16:39 UTC

  Weak dollar, strong peso batters Chilean tourism industry

  

  The tourism industry in Chile is going through a very bad moment with a notorious drop in the number of visitors in recent months claim the private sector and local councillors from the city of Viña del Mar, one of the country’s main sea resorts.

• Monday, February 21st 2011 - 07:09 UTC

  Argentina satisfied with G20 proposal to stimulate food production

  

  Argentina is satisfied with the outcome of the G-20 ministerial meeting after the proposal to regulate commodities prices was turned down, particularly in the food chapter, and because it was agreed that the best way to address current tensions is to stimulate supply.