Economy

Thursday, January 6th 2011 - 12:19 UTC
Magallanes has the lowest unemployment rate in Chile

Magallanes in the extreme south of Chile became the region with the lowest unemployment in the country during the September-November quarter. According to the official Chilean statistics office the jobless rate in Magallanes dropped to 4.1% compared to the national 7.1%.
Thursday, January 6th 2011 - 12:05 UTC
Record prices for copper plummet the US dollar to new lows against Chilean Peso

The US dollar ended 2010 at a record low vis-à-vis the Chilean peso which has soared on the strong global demand for copper, the country’s main export. On Friday December 31st the US dollar was operating at 467.30 and 467.80 in Santiago’s money markets, which is the lowest since May 19, 3008 with 467.40.
Thursday, January 6th 2011 - 11:56 UTC
Gold forecasted to break above 1.500 USD in 2011 after 29% rise in 2010

Gold closed 2010 with its strongest annual performance since 2007 and marking a fifth straight month of gains in December, driven by a weaker dollar and global economic uncertainty.
Thursday, January 6th 2011 - 11:48 UTC
Cuban reforms on the move: soap and toothpaste eliminated from monthly ration

Cuba’s government, trying to save money and eliminate subsidies announced this week it will remove soap, toothpaste and detergent from the monthly ration of food and consumer products it has handed out since the early days of the Cuban revolution.
Thursday, January 6th 2011 - 11:44 UTC
Merkel committed to support the Euro, in spite of German public opinion

Chancellor Angela Merkel stressed Germany's commitment to the Euro in her New Year message to the country last week.
Thursday, January 6th 2011 - 11:10 UTC
As with Greece and Portugal, China comes to Spain’s rescue; 7.5 billion deals

China and Spain signed this week business deals worth 7.5 billion US dollars, a welcome boost for Spain's recession-hit economy. Visiting Vice-Premier Li Keqiang also vowed to help Europe overcome its debt crisis (and support the Euro), as he started his three-nation European tour.
Thursday, January 6th 2011 - 11:07 UTC
Barroso warns Europe of a tough “painful” year ahead

The year 2011 will be economically challenging and painful, European Commission President Jose Manuel Barroso warned this week. After two years of economic recession, Barroso expects a difficult year ahead and underlined the need for Europe to make progress on economic governance and policy coordination.
Thursday, January 6th 2011 - 11:00 UTC
Super Real and imports surge behind Brazil’s smallest trade surplus in eight years

Brazil’s trade surplus fell 19.8% in 2010 to 20.28 billion USD, the smallest in eight years. Exports grew 31.4% to 201.9 billion, a new record, but imports surged 41.6% to 181.64 billion, the Ministry of Development, Industry and Commerce said this week.
Wednesday, January 5th 2011 - 09:09 UTC
Brazil and Chile Battle Rising Currencies

Brazil on Tuesday threatened tougher capital controls and other measures to keep its currency from rising against the dollar, a day after Chile's central bank unveiled its own $12 billion plan to buy greenbacks.
Wednesday, January 5th 2011 - 08:34 UTC
A Latin American View: Not Heard At The G-20

International economic coordination is as necessary as it is elusive. During the global financial crisis, the G-20 became the primary forum to agree on basic principles in areas such as the fiscal-policy response and the role of the International Monetary Fund.