Economy

• Saturday, November 14th 2009 - 13:51 UTC

  Argentine bishops call on CFK to combat poverty and consolidate democracy

  

  The Argentine Catholic Church urged the government to combat the “dramatic” situation of the poor and demanded the authorities consolidate democratic institutions and defuse growing social unrest.

• Saturday, November 14th 2009 - 13:47 UTC

  Argentina’s retail inflation climbs 0.8% during October

  

  Argentina’s consumer price index increased 0.8% during October, according to the official Statistics office, Indec. The education and apparel industries were the ones that most gained. The main private pollsters were expecting the retail prices index to rise between 1 and 1.3%.

• Saturday, November 14th 2009 - 13:25 UTC

  IMF calls on Asian countries to appreciate their currencies

  

  International Monetary Fund Managing Director Dominique Strauss-Khan urged Asian nations to let their currencies appreciate as part of the region’s contribution to a more balanced global recovery.

• Friday, November 13th 2009 - 08:04 UTC

  US and Japan record low interest rates funding global “carry trades”

  

  The International Monetary Fund said that record low US interest rates are funding global “carry trades” and the dollar is still overvalued as concerns mount that new financial imbalances are forming.

• Thursday, November 12th 2009 - 13:27 UTC

  Record for gold on renewed economic recovery optimism

  

  The gold rally resumed once more on Wednesday as prices rose more than 15 US dollars an ounce, spurred on by the US dollar’s seemingly endless decline, which continued as renewed optimism over the economic recovery led to dollar selling.

• Thursday, November 12th 2009 - 13:23 UTC

  Chilean gold production expected to triple by 2015

  

  A study conducted by Chile's National Copper Commission (COCHILCO) reports that the country will most likely triple its gold production within the next five years.
  The opening of new mines in Chile's north will take production from an annual level of 39 tons to nearly 110 tons, said the report.
  This would make Chile one of the world’s 10 largest producers.

• Thursday, November 12th 2009 - 10:49 UTC

  China’s strong economic data fuel annual growth prospect of 8%

  

  The latest economic data from China suggests that industrial production grew year on year at a level faster than expected. Retail sales also rose by more than analysts had predicted, while consumer prices continued to fall.

• Thursday, November 12th 2009 - 10:42 UTC

  Three candidates to challenge US dollar as dominant reserve currency

  

  A new report from researchers at the International Monetary Fund sees at least three candidates that could eventually challenge the US dollar's role as the world's dominant reserve currency: the Euro, the Yen and the Chinese Yuan.

• Thursday, November 12th 2009 - 10:30 UTC

  Argentine church calls government to improve “social cohesion and bring peace”

  

  The Argentine Catholic Church called Wednesday on the government to improve “social cohesion and bring peace” to Argentines. At a conference headed by Cardinal Jorge Bergoglio to mark the 25th anniversary of a peace treaty between Argentina and Chile mediated by Pope John Paul II, the cardinal claimed the government “has the obligation to resolve all its controversies by the use of peaceful methods.”

• Thursday, November 12th 2009 - 09:29 UTC

  Argentine government monthly report: “signs of slow recovery”

  

  Argentina’s cabinet chief Aníbal Fernández reported there were signs of “a slow recovery” in the economy, during his monthly address to the Congress. “The usual soothsayers were wrong in their predictions,” he said, claiming that GDP fell less abruptly in Argentina than in Peru, Chile or even Brazil.