Economy

• Tuesday, October 12th 2010 - 00:31 UTC

  EU/Mercosur talks in Brussels to outline ‘work scheme’ for trade accord

  

  The European Union and the Mercosur trade bloc resumed on Monday a new round of talks in Brussels aimed at reaching free trade agreement in the near future after years of no talks. In the immediate the blocs are seeking to outline a “work scheme” that could be kicked off in December.

• Saturday, October 9th 2010 - 05:14 UTC

  Saudi business delegation visits Uruguay interested in secure reliable food sources

  

  A delegation of Saudi agro-business entrepreneurs headed by the Agriculture minister (and member of the royal family) visited Uruguay with the purpose of establishing a fluid trade exchange and on the long term a strategic alliance.

• Saturday, October 9th 2010 - 02:05 UTC

  Latam helps “rebalance” world economy by appreciating its currencies

  

  Latin America did its homework and allowed its currencies to appreciate sufficiently in order to contribute to the balance of global growth, International Monetary Fund (IMF) chief economist for the region, Nicolás Eyzaguirre, announced.

• Saturday, October 9th 2010 - 00:44 UTC

  Chilean inflation jumps 0.4% in September pushed by food prices

  

  Monthly inflation in Chile quickened as the cost of food and beverages rose the most in at least 20 months. Consumer prices rose 0.4% in September from a month earlier, the National Statistics Institute, INE, said Friday compared to a 0.1% decline in August. Food and beverage prices rose 1.4 percent last month.

• Saturday, October 9th 2010 - 00:21 UTC

  Argentina claims IMF wants rich world’s “stagnation” exported to developing countries

  

  “The IMF wants to make us believe that the policies which caused the crisis are now going to be part of the solution”, said Argentina’s Central bank president Mercedes Marcó del Pont following the opening of the IMF/World Bank annual assembly.

• Saturday, October 9th 2010 - 00:15 UTC

  US dollar steady decline in Chile linked to rising copper prices

  

  The US dollar’s value against the Chilean peso experienced a sharp drop in the second semester of 2010. The exchange rate has been on a steady decline, devaluing by 63 pesos since July, until closing Wednesday at 482.7 pesos to the dollar – which was a daily drop of 0.4 pesos.

• Friday, October 8th 2010 - 19:03 UTC

  Private sector calls on governments for the EU/Mercosur trade agreement

  

  Chambers of Commerce from Europe, Brazil and Uruguay called on their governments to give a new thrust to negotiations for an ambitious cooperation and trade EU/Mercosur agreement.

• Friday, October 8th 2010 - 00:42 UTC

  “Global currencies and trade wars” led to Great Depression warn IMF and WB

  

  World leaders must defuse currency tensions before they worsen to avoid repeating the mistakes of the Great Depression, the head of the World Bank President Robert Zoellick told reporters.

• Friday, October 8th 2010 - 00:15 UTC

  Argentina calls IMF a “non prestigious, absolutely inefficient institution”

  

  While the International Monetary Fund said it hopes Argentina will normalize relations with the multilateral institution, the Argentine Foreign Affairs minister Hector Timerman described the IMF as “non prestigious organization”.

• Friday, October 8th 2010 - 00:12 UTC

  Brazil forecasts crop will reach a record 148.9 million tons in 2010 farm year

  

  Brazil forecasts a record crop of cereals and oilseeds totalling 148.9 million tons, the largest ever, according to the latest release from the Brazilian Geography and Statistics Institute, IBGE.