Economy

• Monday, November 1st 2010 - 05:50 UTC

  Six South American countries with the worst income distribution inequality

  

  A newly released regional report on economic inequality ranked Chile as one of the top 15 countries in the world with the worst inequality of income distribution and declares Latin America and the Caribbean to be the region with the worst inequality worldwide.

• Monday, November 1st 2010 - 05:33 UTC

  EU agrees tough budget rules and mechanisms to anticipate “bubbles”

  

  EU leaders say tough new budget rules agreed at their summit in Brussels will protect the Euro from a future Greek-style debt crisis. The EU “sealed a solid pact to strengthen the Euro,” said European Council President Herman Van Rompuy.

• Monday, November 1st 2010 - 05:25 UTC

  Cattle prices in Punta Arenas soar pushed by world demand for beef

  

  After a decade of stalled values for live cattle in Punta Arenas, extreme south of Chile, prices for calves have almost trebled to over three dollars per kilo, which represents a 90% increase over a year ago.

• Monday, November 1st 2010 - 00:41 UTC

  Argentina’s business sector does not expect major changes in economic policy

  

  Argentina’s business sector does not expect major changes in the country’s current economic course following the death of former president Nestor Kirchner who was considered the man behind the scenes steering the main policy decisions.

• Saturday, October 30th 2010 - 18:57 UTC

  Peru proposes South American Pacific countries free movement zone

  

  Peruvian President Alan Garcia is proposing to Chilean President Sebastian Piñera a zone for free movement of goods, people and capital, a zone that would include Colombia, Panama, Ecuador, Peru and Chile.

• Saturday, October 30th 2010 - 05:15 UTC

  Iran “partner” in the industrialization of Bolivia’s lithium reserves

  

  Bolivian President Evo Morales announced this week that Iran will “partner” in the development and manufacturing of the country’s lithium reserves, an association which had also shown interest from industry groups and governments of other countries.

• Saturday, October 30th 2010 - 05:13 UTC

  US economy growing again but not enough to quell frustration about jobs

  

  The United States economy is growing but not enough to help with jobs. The US Commerce Department says GDP grew 2%, at an annual rate, between July and September - a slight increase from the previous quarter.

• Friday, October 29th 2010 - 04:06 UTC

  Argentine bonds post big gains and stocks hit new record

  

  Argentine bonds posted big gains and stocks hit a new record high Thursday as markets anticipated a more business-friendly environment following the death of former president Nestor Kirchner.

• Thursday, October 28th 2010 - 05:54 UTC

  Argentine shares and bonds reacted positively to death of Kirchner

  

  Argentine shares and bonds rose on Wednesday after the death of political heavyweight and former President Nestor Kirchner removed from the 2011 election campaign a contender seen as unfriendly to markets.

• Thursday, October 28th 2010 - 05:29 UTC

  Petrobras confirms light oil at deepwater exploration well in north-east

  

  Brazilian government-controlled energy giant Petrobras said signs of oil found at in its first deepwater exploration well in the Sergipe-Alagoas Basin mark the opening of a new “exploratory frontier”.