Economy

• Saturday, July 24th 2010 - 03:26 UTC

  First sale of Chilean sovereign bonds to finance earthquake rebuilding efforts

  

  Chile hired JPMorgan Chase & Co, Citigroup Inc. and HSBC Holdings Plc to arrange the country’s first international bond sale in six years, Finance Minister Felipe Larrain announced Friday. Proceeds from the 10-year bonds will help finance rebuilding efforts after the February earthquake.

• Saturday, July 24th 2010 - 00:16 UTC

  Seven of 91 EU banks failed stress-tests: five from Spain

  

  Seven of the 91 European banks that underwent stress tests have failed the health-checks, the Committee of European Banking Supervisors (CEBS) has said. They include five Spanish banks - Diada, Espiga, Banca Civica, Unnim and Cajasur. The other two were Germany's Hypo Real Estate and Greece's ATEbank.

• Friday, July 23rd 2010 - 22:44 UTC

  US economy faces “strong headwinds” and fiscal challenge, says Obama

  

  Obama administration warned the US economy had encountered “strong headwinds” and the country's fiscal challenge remained grave, but it lowered an estimate for the budget deficit this year.

• Friday, July 23rd 2010 - 22:30 UTC

  India develops 35 US dollars touch-screen laptop

  

  The Indian government announced the development of a touch-screen laptop pitched at students at a cost of 35 US dollars. The low cost device, which runs Linux, is being readied for production.

• Friday, July 23rd 2010 - 06:07 UTC

  Buenos Aires Palermo Agro-Fair takes off with the export levies conflict latent

  

  Buenos Aires City Mayor Mauricio Macri inaugurated the 124th edition of the Agriculture, Livestock and Industry Fair organized by the Argentine Rural Society (SRA) that will open on Saturday in the Palermo grounds. SRA head Hugo Biolcati was also present and took the opening honours along with the city Mayor.

• Friday, July 23rd 2010 - 03:36 UTC

  Fearing US ‘double-dip’ recession Fed commits making credit easier

  

  The United States Federal Reserve will try to push borrowing costs even lower if the job market continues to languish, Fed Chairman Ben Bernanke said, offering his clearest blueprint yet for possible additional monetary easing.

• Friday, July 23rd 2010 - 02:44 UTC

  Argentina imposes antidumping measures on Chinese and Brazilian imports

  

  In spite of the ongoing dispute with China over the soy-oil import ban, Argentina this week imposed antidumping measures in the form of ad valorem rights on multi-processors originated in China and Brazil.

• Friday, July 23rd 2010 - 00:14 UTC

  Extreme cold kills hundreds of cattle; thousands at risk in Paraguay and Chile

  

  Cattle breeders in Paraguay and Chilean are suffering the consequences of a particularly severe austral winter which has killed hundreds of cattle and threatens the lives of tens of thousands more.

• Thursday, July 22nd 2010 - 17:08 UTC

  King crab season takes off in southern Chile; 2.600 tons were caught in 2009

  

  Chile’s King Crab season has officially kicked off for this year. The southern king crab is a delicacy in Chile, as 90% of each year’s catch is shipped to markets in Europe, North America and Asia. In Santiago, fresh king crab starts at about 25 US dollars per pound.

• Thursday, July 22nd 2010 - 10:18 UTC

  Brazil anticipating ‘external factors recent evolution’ eases interest rate policy

  

  Brazil’s central bank signalled it may stop raising interest rates soon after policy makers unexpectedly slowed the pace of increases and said inflation was less of a threat amid slowing global growth.