Economy

• 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.

• Thursday, July 22nd 2010 - 10:14 UTC

  Chile considering bill to encourage repatriation of funds from abroad

  

  The Chilean government’s interest in creating a law to encourage the repatriation of funds from abroad received approval by a number of tax experts this past week, reported local media. The proposal, which was first mentioned publicly, last week would allow money earned outside the country to enter Chile, but at a lower tax rate.

• Thursday, July 22nd 2010 - 09:44 UTC

  Santiago de Chile shows strong divide between the rich and poor

  

  The Chilean national CASEN Survey revealed last week that even though poverty in the capital Santiago is below the national poverty rate of 15.1%, the city’s poverty levels grew from 10.6 to 11.5% in the last three years.

• Thursday, July 22nd 2010 - 09:32 UTC

  IMF warns Europe must address “underlying problems”

  

  A government debt crisis that has engulfed the Euro-zone should serve as a “wake-up call” for European governments to keep a more watchful eye on their budgets, the International Monetary Fund (IMF) said Wednesday.

• Thursday, July 22nd 2010 - 09:14 UTC

  Tiger Woods, world’s highest earning athlete, says Sports Illustrated

  

  Professional golfer Tiger Woods in spite of have been away from the links several months since his extramarital affairs were exposed last year, is still the world's highest earning athlete, according to 2010 rankings released on Wednesday.

• Thursday, July 22nd 2010 - 09:10 UTC

  Outlook of US economy remains “unusually uncertain” says Bernanke

  

  US Federal Reserve chairman Ben Bernanke has warned that the outlook for the US economy remains “unusually uncertain”. In testimony before the Senate Banking Committee, Mr Bernanke said record low interest rates would still be needed to support economic recovery.

• Wednesday, July 21st 2010 - 05:49 UTC

  BP sells assets in US, Canada and Egypt to pay clean up bill

  

  British Petroleum is to sell assets in Texas, Canada and Egypt, to part-fund the clean-up cost of the Gulf of Mexico oil spill. The oil giant said it had reached a 7 billion US dollars deal with US-based oil production firm Apache Corp.

• Tuesday, July 20th 2010 - 04:07 UTC

  China buys controlling stake of New Zealand milk processor

  

  Bright Dairy & Food Co., a unit of Shanghai’s biggest food company, agreed to buy a controlling stake in Synlait Milk Ltd., a New Zealand milk processor planning to double capacity at its South Island plant.