Economy

• Thursday, November 19th 2009 - 06:38 UTC

  Brazilian economy overcomes recession and expands at “Chinese rates”

  

  Brazilian president Lula da Silva stated that Latinamerica’s largest economy not only has left the global crisis behind, but also in the third quarter has expanded at a “Chinese rate”, close to 9%.

• Wednesday, November 18th 2009 - 09:30 UTC

  Venezuelan economy forecasted to contract strongly in 2009

  

  Venezuela's economy contracted 4.5% in the third quarter, far more than expected, and the second straight quarterly contraction this year after a drop in oil income affected public and consumer spending, the Central Bank said Tuesday.

• Wednesday, November 18th 2009 - 04:10 UTC

  Argentine fruit exports to Brazil loosing 300.000 USD per day

  

  Argentine exporters claim they are loosing huge sums of money because of Brazilian delays at Customs posts and in extending import licences. This is particularly sensitive for fruit and other perishable exporters.

• Wednesday, November 18th 2009 - 03:44 UTC

  Cristina and Lula da Silva meet to address bilateral trade conflict

  

  Argentina and Brazil presidents are scheduled to address trade disputes, Mercosur and other coming foreign policy issues when they meet Wednesday in Brasilia for their agreed regular contacts.

• Wednesday, November 18th 2009 - 02:38 UTC

  Chile and Uruguay, least corrupt in Latam and an inspiration for the region

  

  Chile, Uruguay and Costa Rica have the lowest perceived levels of corruption in Latinamerica, a benchmark and inspiration for the Americas according to the latest report from Transparency International. Argentina and Venezuela are among the low performers in a region where there are serious indications of “rampant corruption”.

• Tuesday, November 17th 2009 - 12:48 UTC

  The Chilean currency at its highest in 16 months: 496 to the US dollar

  

  The Chilean peso rose to its strongest level against the US dollar in 16 months after copper prices and global stocks rallied. The peso climbed 1.1% to 496.6 per dollar during trading and touched 494.15, the strongest since July 2008.

• Tuesday, November 17th 2009 - 12:39 UTC

  Federal Reserve working to “help ensure that the US dollar is strong”

  

  United States Federal Reserve chief Ben Bernanke said Monday that US policymakers are mindful of the sliding US dollar. Bernanke said he is “attentive” to the decline in the currency and is working to “help ensure that the dollar is strong”.

• Tuesday, November 17th 2009 - 01:02 UTC

  Repsol cutting EP investment plans to reduce costs

  

  Repsol-YPF, Spain’s biggest oil company cut its five-year exploration and production investment plan to reduce costs as the economic slowdown saps earnings. Repsol will invest an estimated 8.76 billion Euros in E&P from 2008 through 2012, down from an earlier plan to spend 9.3 billion Euros, the Madrid-based company announced Monday.

• Monday, November 16th 2009 - 14:31 UTC

  Controversy over Winnie-the-Pooh alleged unpaid royalties

  

  The family of the man who made Winnie-the-Pooh famous in the US is suing Disney over alleged unpaid royalties. The late Stephen Slesinger, who signed a licensing deal with Pooh creator AA Milne in 1931, gave the bear his red shirt and developed Pooh products.

• Monday, November 16th 2009 - 14:27 UTC

  Queen’s Speech will announce radical changes in London City banking

  

  London City regulators are to be given new powers to tear up bankers' contracts if they include excessive pay and bonus deals which might threaten the stability of the financial system.