Economy

Friday, January 8th 2010 - 13:01 UTC
Excellent rain-timing anticipates record crops in Brazil of coffee and soy

Brazil's coffee crop may beat the 48.48 million bag record this year, the country's crop supply agency said in a report which also raised forecasts for the newly-begun soybean harvest.
Friday, January 8th 2010 - 08:11 UTC
Mrs. Kirchner gets her way and will pay debts with Central bank reserves

Argentine President Cristina Fernandez de Kirchner and her cabinet signed Thursday a disputed decree removing Central Bank President Martin Redrado from office amid a fight over the use of bank reserves to pay debt due this year.
Friday, January 8th 2010 - 08:08 UTC
China surprise move to control liquidity sends markets plunging

China's central bank surprised markets on Thursday by raising the interest rate on its three-month bills for the first time since August, intensifying its grip on liquidity a day after it promised to keep credit growth in check.
Friday, January 8th 2010 - 06:48 UTC
Latinamerica’s 2009 trade contracts 24% in value, the worst since 1973

Latinamerica and Caribbean exports plunged 24% in value last year compared to 2008 because of the international crisis, according to the latest estimates from the United Nations Economic Commission for Latinamerica and the Caribbean, Cepal, released Thursday in Santiago de Chile.
Friday, January 8th 2010 - 06:44 UTC
New Japan Finance minister wants weaker Yen to help recover economy

Japan's newly appointed finance minister Naoto Kan has called for a weaker yen in order to aid the recovery of the Japanese economy. Speaking the day after his appointment, Mr Kan said it would be “nice” to see the currency weaken.
Friday, January 8th 2010 - 06:28 UTC
Ample support for Bank of England’s decision to leave monetary policy unchanged

The Bank of England announced Thursday its decision to hold the base rate of interest at its current historic low of 0.5%. The Monetary Policy Committee also opted against altering its quantitative easing programme, under which it has already created £200 billion to pump into the economy.
Friday, January 8th 2010 - 05:59 UTC
Chilean bottled wine sales soar 60% in November; UK and US main markets

Confidence is high among Chilean winemakers with information released this week showing a 60% increase in exports for November 2009, compared to the same month in 2008.
Thursday, January 7th 2010 - 17:17 UTC
Political standoff in Argentina over sacking of Central Bank president

A political standoff over the head of Argentina's central bank materialized Wednesday after the bank's president declined to support a plan to use 6.5 billion US dollars in reserves to pay debt.
Thursday, January 7th 2010 - 17:13 UTC
Argentina expects record corn yield and exceptional sorghum crop

Argentina, the world’s second-largest corn exporter could increase output by more than 42% this year from initial estimates as spring rains boost yields to a record, the country’s main corn growers group said.
Thursday, January 7th 2010 - 16:51 UTC
Latest data show Chilean economy rebounding from recession

Chile’s economic activity index, the IMACEC, rose a bigger-than-expected 3.1% in November from a year earlier, the central bank announced this week, the first monthly increase in a year. The market expected the economy of the world's top copper producer to expand by 2.5%, according to a median forecast from a Reuters’ survey.