Economy

Monday, October 25th 2010 - 03:49 UTC
Petrobras Confirms Tupi Field Could Hold 8 Billion Barrels

Brazilian state-controlled energy giant Petrobras said Friday that the drilling of a new exploratory well at the offshore Tupi field confirms potential recoverable reserves of between 5-8 billion barrels of oil equivalent.
Monday, October 25th 2010 - 03:28 UTC
PM Cameron: Cuts Are Right And Hit Rich Hardest

David Cameron has again defended his Government's spending cuts, insisting they are “fair” with society's richest shouldering the greatest burden.
Monday, October 25th 2010 - 02:55 UTC
US says China is “committed” to allow the Yuan to appreciate

United States Treasury Secretary Timothy Geithner has said he believes China is now “committed” to allowing the Yuan to go up in value. Mr Geithner made the comment in a TV interview before he held talks with China's Vice-Premier, Wang Qishan.
Sunday, October 24th 2010 - 02:36 UTC
Rum sales overtake pisco in Chile. Beer tops the list of beverages

For the first time, Chilean household purchases and supermarket sales of rum have surpassed those of pisco, according to Nielsen Chile data.
Sunday, October 24th 2010 - 02:00 UTC
G20 agrees review of IMF: Europe looses influence to developing countries

The Group of 20 (G20) nations reached in Korea a dramatic deal on Saturday as China, the United States agree to avoid “currency war” and to refrain from having too much trade surplus or deficit.
Saturday, October 23rd 2010 - 04:38 UTC
Latam shoe industry calls for “united front” against China’s disloyal practices

Latin America’s foot-wear industry are proposing a “united front” against what they describe as “disloyal trade practices” from China, as part of the Asian giant’s foreign trade policies.
Saturday, October 23rd 2010 - 03:45 UTC
G20 rejects as “planned economy” US proposal setting targets to trade imbalances

US proposals that countries set targets to reduce trade imbalances appeared to be running into opposition at the G20 meeting of leading economies. US Treasury Secretary Timothy Geithner wrote to G20 members on Friday suggesting limiting surpluses and deficits to a percentage of output.
Saturday, October 23rd 2010 - 03:22 UTC
Argentine industrial production soars 9.7% in September over a year ago

Argentina's industrial production surged in September boosted by domestic demand and strong export markets. Industrial production rose 9.7% in September from the year-ago month, and was up 1.2% from August, the national statistics agency Indec reported Friday.
Friday, October 22nd 2010 - 05:42 UTC
Chile cuts customs’ red tape to help exporters face stronger peso

Chile will cut red tape on customs to help exporters hit by a strong peso as one measure to ease the effects of the currency's rapid appreciation, Finance Minister Felipe Larrain said on Thursday.
Friday, October 22nd 2010 - 03:16 UTC
Brazil set to grow 7.5% this year and 5.9% in 2011; inflation 5.1% and 5%

Brazil’s GDP may grow 7.5% this year, up from a previous estimate of 7%, the Finance Ministry said in a report published on its website Thursday. The ministry also raised its forecast for average growth between 2010 and 2014 to 5.9%, from 5.7%.