Economy

• Monday, February 14th 2011 - 23:47 UTC

  Roubini warns of “hard landing” if developing countries don’t control inflation

  

  Nouriel Roubini the New York University professor, who predicted the credit crisis, said China and other emerging markets risk a “hard landing” as they start raising interest rates to fight inflation.

• Monday, February 14th 2011 - 23:37 UTC

  Uruguay manufacturing recovered mildly in 2010: “industry is stagnant”

  

  Uruguay’s manufacturing industry expanded 4.5% in 2010, but if the pulp industry hub is excluded the percentage drops to 3.5%, according to the latest release from the National Statistics Institute, INE.

• Monday, February 14th 2011 - 22:32 UTC

  South Korea leaves basic rate unchanged at 2.75%; inflation running at 4%

  

  South Korea's central bank has left its main interest rate unchanged at 2.75%, bucking a trend that has seen borrowing costs rise across Asia as policymakers try to slow inflation.

• Monday, February 14th 2011 - 21:50 UTC

  Political agreement in Paraguay to impose export levies on soybeans and beef

  

  The Paraguayan government is working with Congress to agree on budget cuts and possible tax increases, (levies on beef and soybean exports) that should help balance 2011 expenditure and revenue.

• Monday, February 14th 2011 - 21:10 UTC

  Indian company to begin Bolivian iron-ore exports; a million tons the first year

  

  India’s Jindal Steel & Power plans this year to export 1 million tons of iron ore concentrate from Bolivia’s El Mutun mine, the firm said. Following on some problems that have been overcome, exports will begin in March reported Jindal Bolivia’s communications manager, Eduardo Prudencio.

• Monday, February 14th 2011 - 21:07 UTC

  Argentina hopes to reach an agreement with the Paris Club this month

  

  Argentina’s Economy Minister Amado Boudou heads to France this week to participate in the G20 ministers meeting and will take advantage of the trip to further advance tentative negotiations to resolve the defaulted debt Argentina has with the Paris Club.

• Monday, February 14th 2011 - 15:53 UTC

  China’s trade surplus drops considerably in January ahead of G-20 meeting

  

  China's trade surplus fell to its lowest in nine months in January after imports surged, supporting the government's case ahead of a G20 meeting that it is doing enough to spur domestic demand without speeding up currency appreciation.

• Monday, February 14th 2011 - 15:42 UTC

  Russia’s massive privatization drive takes off with sale of stake in main bank

  

  Russia has raised 96 billion roubles (3.3 billion USD) from the sale of a 10% stake in the country's second biggest bank, VTB. The sale marks the start of the government's huge privatisation drive aimed at raising 1 trillion roubles over three years.

• Monday, February 14th 2011 - 15:39 UTC

  Strong demand for Chilean lamb; exports reach 32 million USD in 2010

  

  Chilean lamb and mutton 2010 exports mostly from Magallanes Region in the extreme south of the country increased 17% over the previous year according to the country’s Agriculture Studies and Policies Office, Odepa.

• Monday, February 14th 2011 - 14:54 UTC

  Obama proposes drastic budget cuts; goal: 3.2% of GDP deficit by 2015

  

  President Barack Obama proposed a budget that would cut the US deficit by 1.1 trillion US dollars over 10 years, setting the stage for a bitter fight with the opposition Republicans who vow even tougher spending controls.