Economy

• Friday, September 3rd 2010 - 03:30 UTC

  Wheat climbs as Russia extends ban on exports until next year’s crop

  

  Wheat climbed after Russia, the third-largest grower last year, extended a ban on exports into next year following a drought destroyed crops, tightening global supplies. The United Nations’ Food and Agriculture Organization called a special meeting to address the global grains situation.

• Thursday, September 2nd 2010 - 21:21 UTC

  The 29 dollars ten pound “burger” that brings family and friends together

  

  The biggest hamburger in the Caribbean, a ten pound (4.5 kilos) family burger, is prepared and served with a secret sauce in Puerto Rico and for the very tempting price of 29 US dollars.

• Thursday, September 2nd 2010 - 21:08 UTC

  Argentina calls on Mercosur to become world’s main agro-food business region

  

  Argentine president Cristina Kirchner called on Mercosur partners to convert the group into the world’s leading agro-food business region and to put an end to asymmetries.

• Thursday, September 2nd 2010 - 07:21 UTC

  Brazilian central bank keeps benchmark interest rate on hold at 10.75%

  

  Brazil's central bank held on Wednesday its benchmark interest rate at 10.75%, ending a monetary tightening cycle that helped cool the economy as the country prepares for October 3 presidential election.

• Thursday, September 2nd 2010 - 07:19 UTC

  Korea and Peru conclude free trade agreement effective next year

  

  Korea and Peru concluded in Lima negotiations for a free trade agreement (FTA), which is expected to go into effect midway through next year once it is approved by the parliaments of the two countries.

• Thursday, September 2nd 2010 - 07:10 UTC

  Brazil announces major iron deposit discovery in Matto Grosso

  

  Brazil's Mato Grosso state government announced Wednesday it had registered a major mineral deposit discovery with an estimated 11.5 billion tons of iron ore of a 41% Fe grade plus another 428 million tons of phosphates.

• Thursday, September 2nd 2010 - 07:06 UTC

  Australia confirms it’s a world wine power and agrees labelling with the EU

  

  A new labelling deal with Australia may make Europe's winemakers feel more than a little light-headed as imitations will no longer be sold with names like champagne and sherry.

• Thursday, September 2nd 2010 - 06:55 UTC

  Minutes confirm Fed ready to purchase more government bonds to prop economy

  

  United States Federal Reserve will buy up more debt if the outlook worsens “appreciably”, minutes from its August meeting have revealed. The central bank preferred to purchase US government bonds, but did not rule out buying further mortgage debts.

• Thursday, September 2nd 2010 - 06:50 UTC

  Caterpillar expands manufacturing operations in Brazil to cater Mercosur

  

  Caterpillar Inc. (NYSE: CAT) announced Wednesday the expansion of its manufacturing operations in Brazil capitalizing on the expected growth of demand in the Mercosur regional block and Latin America.

• Wednesday, September 1st 2010 - 19:56 UTC

  Rapid recovery and strong copper demand sustain Chilean Peso appreciation

  

  The Chilean peso rose on the first day of September, --and now stands at 500 to the US dollar--, as accelerating manufacturing growth in China improved the outlook for Chile’s raw material exports, mainly copper.