Economy

• Monday, June 28th 2010 - 05:42 UTC

  China’s central bank assesses steps to make the Yuan a global currency

  

  China must create more channels for investors and companies to use the Yuan if it wants to internationalize the currency and put it on a par with the Yen and the Euro, central bank officials and economists told a forum in Shanghai.

• Monday, June 28th 2010 - 05:35 UTC

  NZ Farming needs 60 million USD to complete dairy investment in Uruguay

  

  New Zealand Farming Systems Uruguay needs to raise about 60 million US dollars to complete the development of the company, says Chairman John Parker. The company was set up to develop dairy-farm operations in Uruguay and floated on the NZX in 2007.

• Monday, June 28th 2010 - 00:58 UTC

  Honda to start manufacturing cars in Argentina in 2011

  

  Honda plans to start manufacturing automobiles in Argentina next year, when the Japanese automaker’s plant in Campana, a city on the outskirts of Buenos Aires, opens, the press reported, citing company executives.

• Saturday, June 26th 2010 - 05:47 UTC

  Toronto G-20: Germany’s Merkel emphasizes “mutual understanding” with US

  

  Germany's Chancellor has insisted that Europe's leaders are making good progress in talks with the US about how to bolster fragile economic growth. Angela Merkel told journalists at the G8 summit in Canada there was “mutual understanding” with President Obama over deficit reduction plans. Leaders are attending summits of the G8 and G20 groups of leading states.

• Saturday, June 26th 2010 - 05:22 UTC

  Argentine economy expands 9.7% in April, the fastest in two years

  

  Argentina's economy grew at its fastest pace in nearly two years in April, expanding 9.7% percent from a year earlier, the government announced on Friday. Increased consumer spending and demand for Argentina industrial products, particularly automobiles, from Mercosur partner Brazil helped to boost the economy.

• Saturday, June 26th 2010 - 05:16 UTC

  “China playing games” with the announced Yuan flexibility, says Krugman

  

  Nobel laureate Paul Krugman said China’s pledge to make the Yuan more flexible was an “exercise in bad faith” intended to fend off international pressure for a stronger currency at this week’s Group of 20 leaders’ summit.

• Saturday, June 26th 2010 - 05:13 UTC

  China says there is no basis for major appreciation of the Yuan or raising rates

  

  Top Chinese financial officials defended the country’s current economic policy and stated there was no need for a major appreciation of the currency or an increase in interest rates since inflation was declining.

• Saturday, June 26th 2010 - 05:08 UTC

  China ends freeze on Argentina soy-oil imports, says Buenos Aires

  

  Argentina has reached an agreement with China to end the freeze on Argentine soy-oil imports, the government said on Friday. However given the cumbersome negotiation process some Argentine traders are waiting for an official confirmation from Beijing.

• Saturday, June 26th 2010 - 05:01 UTC

  BP considering sales of assets in Argentina

  

  British Petroleum, BP, is actively considering the sale of its stake in Pan American Energy LLC, Argentina's fastest growing oil and gas company, according to oil industry sources quoted in the Buenos Aires press.

• Friday, June 25th 2010 - 21:59 UTC

  In seven years Asia became Chile’s main trade partner: absorbs 48% of exports

  

  Between January and May of 2010, Chile shipped approximately 12.7 billion US dollars in commodities to Asia; in this five-month span, 83% of Asia-bound exports were sent to China, Japan, and South Korea.