Economy

• Wednesday, April 7th 2010 - 02:13 UTC

  Daimler Benz admits having bribed government officials from 22 countries

  

  German carmaker Daimler has pleaded guilty to corruption in the US and will pay 185 million US dollars to settle the case. The charges relate to US Justice Department and Securities and Exchange Commission investigations into the company's global sales practices.

• Wednesday, April 7th 2010 - 01:03 UTC

  Energy, trade and cooperation in Mujica/Chavez agenda

  

  Energy, trade and bilateral cooperation are the main issues of the agenda that Uruguayan president Jose Mujica will address with his Venezuelan peer Hugo Chavez on Wednesday in Caracas.

• Wednesday, April 7th 2010 - 00:53 UTC

  British top earners begin paying 50p in income tax for each pound over £ 150.000

  

  British top earners will pay 50p in income tax on each pound of their salary over £150,000 from Tuesday April 6, the start of the new financial year. Previously, the highest rate of income tax payable was 40p on every pound for earnings above £37,400.

• Wednesday, April 7th 2010 - 00:12 UTC

  Bolivia plans to launch new coca leaf energy drink, “Coca Colla”

  

  The Bolivian government plans to help market the nation’s coca plant crops in products such as energy drinks, tea, toothpaste and flour.

• Tuesday, April 6th 2010 - 02:42 UTC

  Argentina began servicing public debt using Central bank reserves

  

  Argentina began servicing public debt using Central Bank reserves after making its first payment Monday, according to sources from the Economy Ministry.

• Monday, April 5th 2010 - 23:57 UTC

  Oil prices reach an 18-month high following on US encouraging data

  

  Oil prices have reached an 18-month high as analysts predict the recovery of the US economy and a rising demand for fuel. Crude oil for May delivery hit a high of 85.89 USD a barrel at one point in New York trading - the dearest since the peak of the financial crisis in October 2008.

• Friday, April 2nd 2010 - 23:05 UTC

  Uruguay’ government gross debt ballooned 31.5% in 2009, to 69% of GDP

  

  Uruguay’s government overall debt skyrocketed 31.5% during 2009 according to the latest data released by the country’s Central Bank. This marks a complete reversal from the previous four years that could be described as very prudent.

• Wednesday, March 31st 2010 - 19:10 UTC

  Chilean president announces housing emergency plan totalling 2.5 billion USD

  

  Chilean President Sebastian Piñera announced this week the second part of his emergency reconstruction plan during a visit to the lower-middle class borough of Lo Prado. Beneficiaries of the new program are mostly lower middle class families.

• Wednesday, March 31st 2010 - 18:30 UTC

  Euro zone Feb unemployment at its highest, 10%; Spain at record 19%

  

  Unemployment rates reach double digits in February in the Euro zone to hit an 11-year high in the 16-nation bloc. The February unemployment rate stood at 10% — the highest level to hit European nations since August 1998 — tipping the unemployment rate into double digits for the first time in 2010.

• Wednesday, March 31st 2010 - 02:30 UTC

  Mercosur is Uruguay’s main market for value-added exports, says Mujica

  

  Uruguayan president Jose “Pepe” Mujica admitted Mercosur has its problems but it is also the market for Uruguayan exports with most added value: “to the rest of the world we sell mostly commodities, to Mercosur Uruguayan input”.