Economy

Thursday, March 3rd 2011 - 21:56 UTC
FIFA announces 631 million USD profit in 2007/2010

Football's governing body FIFA said Thursday that they had achieved a profit of 631 million US dollars over a four year period starting 2007. FIFA revenue during this period was 4.189 billion USD, while the expenses amounted to 3.558 billion USD, the organisation said in a statement.
Thursday, March 3rd 2011 - 19:14 UTC
Prepare for a “possible” interest rise in Euro zone warns ECB President Trichet

The president of the European Central Bank has said that a rise in Euro zone interest rates was “possible” at its next policy meeting in April. Jean-Claude Trichet said the ECB was “in a posture of strong vigilance” against rising inflation.
Thursday, March 3rd 2011 - 18:54 UTC
Brazil’s basic interest rate forecasted to increase 50 points to 12.25% in April

Brazil Wednesday central bank decision to raise interest rates by 50bps to 11.75% was widely expected but significant for two reasons, according to a report from Capital Economics .
Thursday, March 3rd 2011 - 18:50 UTC
Food prices increase in February for eighth consecutive month, says FAO report

Global food prices increased for the eighth consecutive month in February, with prices of all commodity groups monitored rising again, except for sugar, FAO said on Thursday. FAO expects a tightening of the global cereal supply and demand balance in 2010/11
Thursday, March 3rd 2011 - 18:46 UTC
Brazilian economy expanded 7.5% in 2010; government applies ‘cooling’ measures

Brazil grew at its fastest pace in 24 years in 2010, expanding 7.5% on strong consumer demand but other complementary data also showed the economy is feeling the strains of overheating.
Thursday, March 3rd 2011 - 06:25 UTC
Latam must prepare for ‘major prices’ fluctuations warn food organizations

Food price volatility has increased in recent months and will remain high for the time being, according to a joint bulletin launched today by ECLAC, FAO and IICA.
Thursday, March 3rd 2011 - 06:19 UTC
Fearing overheated economy Brazil raises basic interest rate 50 points to 11.75%

Brazil’s Central bank on Wednesday raised its benchmark overnight rate by a half-point for a second straight meeting to cool inflation that is approaching the upper limit of the government’s target range.
Thursday, March 3rd 2011 - 05:55 UTC
Argentine has ‘liberated’ 75% of retained import licences says Uruguayan minister

Uruguay’s cabinet meeting spokesperson confirmed Wednesday that Argentina had “liberated” 75% of the import licences that remained delayed and which was one of the main points of the agenda in the recent summit between Uruguayan president Jose Mujica and Argentina’s Cristina Fernandez de Kirchner.
Thursday, March 3rd 2011 - 05:46 UTC
IMF chief praises Uruguay, cautions good times are not for ever

IMF Managing Director Dominique Strauss-Khan praised the management and achievements of the Uruguayan economy and said it was a pleasure to visit a country that does not have major problems resulting from the 2008 global financial crisis, which is a “recurrent issue” of his busy agenda.
Thursday, March 3rd 2011 - 05:18 UTC
US inflation ‘under control’; jobs insufficient to absorb new graduates, says Bernanke

The recent hike in oil prices will likely cause a “temporary and relatively modest increase in U.S. consumer price inflation,” but sustained increases could pose a more serious threat to the economy, Federal Reserve Chairman Ben Bernanke said earlier this week.