Economy

Thursday, April 8th 2010 - 01:18 UTC
Daimler, Renault, Nissan seal alliance to lower costs, expand in European market

German auto major Daimler-Benz and Franco-Japanese alliance Renault-Nissan on Wednesday announced a three-way tie-up, including equity swaps, for co-operation in development of small cars and light commercial vehicles.
Thursday, April 8th 2010 - 00:00 UTC
China allows unloading of Argentine soybean oil

An Argentina-China agreement to unlock the soybean oil conflict seems to move forward as a government official, who preferred to remain anonymous, told a news agency that China has agreed to allow all cargo ships on their way to China to unload soybean oil at Chinese ports.
Wednesday, April 7th 2010 - 23:57 UTC
US federal judge rules in favour of Argentine sovereign bonds “holdouts”

A United States federal judge ruled in favour of seizing 105 million US dollars from the Argentine Central Bank deposits in New York in order to pay the debt the country holds with two investment funds.
Wednesday, April 7th 2010 - 23:40 UTC
Bernanke warns US economy still faces ailing housing and employment

United States Federal Reserve Chairman Ben Bernanke cautioned the US economy still faces significant headwinds, including a housing sector that has yet to recover convincingly and an ailing employment market.
Wednesday, April 7th 2010 - 22:44 UTC
Venezuela and Argentina have riskiest sovereign credit, says default-swap monitor

Venezuela is catalogued to be the world's riskiest sovereign credit, followed by Argentina, in the table of countries whose debt is the costliest to insure, credit default swap monitor CDS DataVision said this week.
Wednesday, April 7th 2010 - 22:29 UTC
Milk prices soar 21%, highest in two years pushed by Australasian squeeze

Fonterra, the world's biggest dairy exporter, has said that a seasonal squeeze on Australasian milk supplies is behind a 21% jump in prices to their highest in nearly two years.
Wednesday, April 7th 2010 - 22:19 UTC
Cash-strapped Cuba cuts US food imports drastically

United States agricultural exports to Cuba declined by more than 180 million USD in 2009, down from a record 715 million USD in exports set in 2008, according to a Texas AgriLife Extension Service economist.
Wednesday, April 7th 2010 - 21:12 UTC
Uribe said WEF in Cartagena confirms success of “democratic security” policy

The significant and numerous attendances to the World Economic Forum, Latin American chapter, taking place in Cartagena, Colombia, shows that “the Democratic Security policy has gained back confidence in Colombia” said Colombian President Álvaro Uribe during a radio interview.
Wednesday, April 7th 2010 - 21:05 UTC
Chilean fisheries exports and domestic sales down 46% in first quarter

Fishing production in Chile’s central south BioBio region (Region VIII) is still reeling in the aftermath of the Feb. 27 earthquake and tsunami.
Wednesday, April 7th 2010 - 20:56 UTC
World Economic Forum on Latin America demonstrates confidence in Colombia

Colombian Trade Minister Luis Guillermo Plata said that the World Economic Forum on Latin America (WEF), which was inaugurated by President Alvaro Uribe in the coastal city of Cartagena, demonstrates “confidence” in Colombia as an investment destination.