Economy

Thursday, August 26th 2010 - 03:04 UTC
Brazil forecasted to harvest smallest orange crop in eight years

Orange growers in Brazil, the world’s biggest producer, will harvest the smallest crop in at least eight years after rains hindered flowering, said Margarete Boteon, a University of Sao Paulo researcher.
Thursday, August 26th 2010 - 00:51 UTC
Uruguay committed to Mercosur, but also to greater world diversification

While Uruguay supports the regional trade group Mercosur, “we are also trying to diversify the economy more to other parts of the world” said central bank president Mario Bergara during his recent visit to meet investors in New York.
Wednesday, August 25th 2010 - 04:18 UTC
Violence in some Latin American countries is an “epidemic” says OAS

Organization of American States (OAS) chief José Miguel Insulza, said that the violence in some Latin American countries with high homicide rates can be compared to an “epidemic.”
Wednesday, August 25th 2010 - 04:11 UTC
US sales of existing homes plunge 27% in July, lowest level in ten years

Sales of existing homes in the US plunged 27.2% in July compared with June to their lowest level in more than 10 years, figures suggest. Home sales completed in the month stood at an annualised rate of 3.83 million, according to the National Association of Realtors (NAR).
Tuesday, August 24th 2010 - 05:27 UTC
Uruguay confident in recovering investment grade “within one or two years”

Uruguay whose credit rating was cut to junk in 2002, expects to return to investment grade within two years, central bank President Mario Bergara said. “We are confident that in one or two years we will have investment grade again,” Bergara said at an investors’ conference in New York Monday.
Tuesday, August 24th 2010 - 05:07 UTC
Russia admits crop loss of 38%; self sufficient in 2010 but no reserves for 2011

Russia has enough grain to cover its domestic needs after harvesting this year 38% less than the previous crop, a senior official said Monday. However markets believe Russia could be forced to import several million tons to ensure grain reserves until the following 2011 harvest
Tuesday, August 24th 2010 - 03:40 UTC
Uruguay’s wool clip forecasted to drop 20%: less sheep and extreme weather

Uruguay’s wool clip is forecasted to drop 20% in 2010/11 because of a fall in the number of sheep and extreme weather conditions that will represent a loss of almost a kilo of wool per head, according to Alvaro Fossati, president of a sheep farmers association.
Monday, August 23rd 2010 - 22:09 UTC
Brazil assures fearful Bolivia it will keep purchasing natural gas

Brazilian government managed energy giant Petrobras said Bolivian natural gas will remain important for energy-hungry Brazil, where demand for that fuel is expected to triple over the next four years, Bolivian daily La Razon reported.
Monday, August 23rd 2010 - 04:35 UTC
Uruguayan business delegation visits China to promote trade and investment

Uruguayan Vice-president Danilo Astori and a delegation of sixty businessmen are en route to China for a week long visit to strengthen bilateral relations and further promote trade and investments.
Monday, August 23rd 2010 - 04:23 UTC
Uruguay completes twelve OEDC tax information exchange agreements

Uruguay reached this month a tax information exchange agreement with India thus totalling the twelve demanded by the Organization for Economic and Development Cooperation to have the country de-listed from the group that still have to abide and implement internationally agreed tax standards.