Brazil expects the coming 2009/2010 grains crop to reach 141.1 million tons, which represents an increase in the range of 2.9% to 4.8% over the 2008/09 record harvest of 135.16 million tons, according to the country’s National Supply Corportion, Conab.
Uruguay’s economy is set to grow 0.6% this year and 3.5% in 2010 according to the latest estimates from the International Monetary Fund. This means Uruguay together with Peru will be the only two countries in South America that will expand in 2009. The previous IMF forecast was 1.3% and 2%.
Australia has raised its main interest rate to 3.25% from 3%, becoming the first G20 nation to do so as the global economy begins to recover. The move by its central bank was not unexpected as the Australian economy was the only one in the developed world to expand in the first half of 2009.
France dismissed on Tuesday as speculation a British newspaper report that it was in secret talks with Gulf Arab states, Russia, China and Japan to replace the US dollar with a basket of currencies in trading oil.
The price of gold has hit a new all-time high of 1,043.77 US dollars an ounce after a decline in the greenback boosted the attractiveness of metals to investors. Copper prices also rose above 6,000 USD a ton, as the weaker dollar made metals cheaper for non-US investors.
Chilean supermarket chain owners –mainly Wall-Mart, Cencosud, Unimarc and Supermercados del Sur –are planning the construction of 125 new supermarkets in 2010--an average of one new store every three days. This will be a 12.5% increase to the current 1,003 supermarkets in the country.
In a report released Monday, the United Nations Human development index ranks Norway as the best place in the world to live. Factors such as life expectancy, literacy, school enrolment, health system and GDP help determine these rankings.
Latinamerica’s recovery will be very show while unemployment keeps a rising tendency, warned on Monday Alicia Barcena, Executive Secretary for the United Nations Latinamerica and Caribbean Economic Commission, Cepal.
Brazil’s currency rose to the strongest level in more than a year after a statement from the Group of Seven’s leaders lacked support to stem the dollar’s slide against major currencies, prompting investors to buy higher- yielding assets.
Worldwide growth in the Information Technology sector will create 5.8 million new jobs and 75,000 new businesses in the next four years, research from Microsoft has forecast.