Economy

• Friday, December 24th 2010 - 08:06 UTC

  Uruguay under agriculture “state of emergency” because of lack of rains

  

  The Uruguayan government declared Thursday an “agriculture state of emergency” because of the drought situation to the north of the country. The declaration opens the way to grant small farmers government support.

• Friday, December 24th 2010 - 08:04 UTC

  Uruguay’s Central bank leaves benchmark interest rate unchanged at 6.5%

  

  Uruguay’s central bank kept its benchmark interest rate unchanged at 6.5% after annual inflation slowed to within policy makers’ target range, according to a statement posted on the bank’s website.

• Friday, December 24th 2010 - 07:59 UTC

  China prepared to support Euro zone, buying sovereign Greek and Portuguese bonds

  

  China said on Thursday it was willing to support Euro zone countries through the region's debt crisis. “We are ready to support the Euro zone countries to overcome the financial crisis and realize economic recovery,” foreign ministry spokeswoman Jiang Yu told reporters.

• Friday, December 24th 2010 - 07:47 UTC

  Argentina’s November industrial production up 8.8%, says private index

  

  Argentina's industrial production in November continued to grow at record levels, with output jumping 8.8% on the year, according to the monthly index published by local think tank Fiel on Thursday.

• Friday, December 24th 2010 - 07:37 UTC

  China defends soaring economic and trade relations with Africa

  

  China has defended its economic and trade relations with African nations. In the first policy paper on the subject, Beijing said China-Africa co-operation helped Africa to reach the UN Millennium Development Goals, and boosted common prosperity and progress.

• Thursday, December 23rd 2010 - 08:46 UTC

  Brazilian central bank inflation warning; rate hike expected in January

  

  Brazil's central bank reiterated Wednesday its clear commitment to raise interest rates soon, as the outlook for inflation has become “far less favorable” than it had previously thought.

• Thursday, December 23rd 2010 - 08:39 UTC

  Brazilian soy crop estimate up; coffee prices reach a 13-year high

  

  Soybean growers in Brazil, the world’s largest producer after the U.S., may harvest more of the oilseeds next year than the government estimated earlier this month, Agriculture Minister Wagner Rossi said on Wednesday.

• Wednesday, December 22nd 2010 - 05:32 UTC

  Oil World reduces Argentine soybean crop estimates because of lack of rain

  

  Oil World has for a second time in two weeks reduced Argentina soybean crop hopes warning that, thanks to dry weather, it could be on course for a fall of more than 20%.

• Wednesday, December 22nd 2010 - 05:15 UTC

  Ernst & Young accused of helping Lehman Brothers hide financial problems

  

  New York prosecutors sued Ernst & Young, accusing the accounting firm of helping to hide Lehman Brothers Holdings Inc's financial problems, the first major government legal action stemming from the Wall Street bank's 2008 downfall.

• Wednesday, December 22nd 2010 - 05:06 UTC

  Portugal on notice for possible credit rating cut in next three months

  

  Portugal was put on notice that its credit rating could be cut and fellow Euro zone debtor Spain had to pay more to issue new debt, suggesting the currency bloc's crisis will rage unabated in 2011.