Economy

• Wednesday, October 7th 2009 - 05:17 UTC

  Gold soars to new all-time record on fears of financial instability

  

  The price of gold has hit a new all-time high of 1,043.77 US dollars an ounce after a decline in the greenback boosted the attractiveness of metals to investors. Copper prices also rose above 6,000 USD a ton, as the weaker dollar made metals cheaper for non-US investors.

• Tuesday, October 6th 2009 - 23:52 UTC

  Chile supermarket industry booming: one new store every three days

  

  Chilean supermarket chain owners –mainly Wall-Mart, Cencosud, Unimarc and Supermercados del Sur –are planning the construction of 125 new supermarkets in 2010--an average of one new store every three days. This will be a 12.5% increase to the current 1,003 supermarkets in the country.

• Tuesday, October 6th 2009 - 11:48 UTC

  Chile, Argentina, Uruguay, best places to live in South America, says UN

  

  In a report released Monday, the United Nations Human development index ranks Norway as the best place in the world to live. Factors such as life expectancy, literacy, school enrolment, health system and GDP help determine these rankings.

• Tuesday, October 6th 2009 - 11:46 UTC

  Latinamerica’s recovery “very slow” and with “rising unemployment”

  

  Latinamerica’s recovery will be very show while unemployment keeps a rising tendency, warned on Monday Alicia Barcena, Executive Secretary for the United Nations Latinamerica and Caribbean Economic Commission, Cepal.

• Tuesday, October 6th 2009 - 11:44 UTC

  Brazil’s Real in new record against US dollar; has gained 32% this year

  

  Brazil’s currency rose to the strongest level in more than a year after a statement from the Group of Seven’s leaders lacked support to stem the dollar’s slide against major currencies, prompting investors to buy higher- yielding assets.

• Tuesday, October 6th 2009 - 11:39 UTC

  IT set to create 5.8 million new jobs and 75.000 new businesses by 2013

  

  Worldwide growth in the Information Technology sector will create 5.8 million new jobs and 75,000 new businesses in the next four years, research from Microsoft has forecast.

• Tuesday, October 6th 2009 - 11:33 UTC

  Dairy farmers’ cow protest in Brussels, which is divided over milk policy

  

  Hundreds of farmers protested Monday in Brussels to put pressure on European Union (EU) agriculture ministers meeting to discuss low milk prices. The talks came after weeks of protests across Europe, with farmers dumping milk stocks and withholding supplies at what they see as uneconomic prices.

• Tuesday, October 6th 2009 - 07:30 UTC

  Argentina and the IMF ready to re-establish normal working technical relations

  

  International Monetary Fund Managing Director, Dominique Strauss Khan, told Argentine Central Bank head Martín Redrado that the eventual revision of Argentina's economy by the multilateral organization would be “strictly technical,” according to IMF sources.

• Tuesday, October 6th 2009 - 06:38 UTC

  “Historic day” for Brazil which for the first time becomes IMF creditor

  

  Brazil became on Monday for the first time ever a creditor of the International Monetary Fund when it formalized a decision to buy 10 billion US dollars worth of IMF notes nominated in SDR.

• Monday, October 5th 2009 - 13:39 UTC

  US federal judge limits claims of Argentine defaulted bonds

  

  A US federal judge has rejected an effort to attach some assets of Argentina's state-owned Banco de La Nacion to satisfy claims of investors holding defaulted Argentine bonds.