Economy

Friday, February 6th 2009 - 20:00 UTC
Lowest January inflation in Chile since 1943: minus 0.8%

Consumer inflation in Chile during January dropped 0.8%, the lowest since the same month in 1943, accumulating 6.3% in the last twelve months, according to the latest report from the country's Statistics Institute, INE.
Friday, February 6th 2009 - 20:00 UTC
Brazilian inflation slows for third consecutive month

Brazilian January consumer inflation was 0.48% accumulating 5.84% in the last twelve months, slowing for a third consecutive months after having reached a three year high in October, according to the latest release from the country's statistics office.
Friday, February 6th 2009 - 20:00 UTC
Brazil's grains crop estimate down but at “comfortable level”

Insufficient rainfall in south Brazil, mostly in the states of Rio Grande do Sul, Parana, Matto Grosso do Sul and west Santa Catarina, will cause a 6.53% drop in the 2008/09 grain crop, which will fall from 144.11 million tons to 134.70 million tons, reported this week the Supply Office (Conab) from the Agriculture and Livestock ministry.
Thursday, February 5th 2009 - 20:00 UTC
Mexico floods market with dollars to stop run on the Peso

Mexico's central bank and finance ministry confirmed that the bank had intervened on Wednesday to prop up the ailing peso currency by selling dollars directly to market players.
Thursday, February 5th 2009 - 20:00 UTC
Spain unemployment rate 14.4% or 3.3 million jobless

Unemployment in Spain, which has the highest jobless rate in the European Union, rose by the most in at least 13 years in January in the 10th monthly increase totalling 3.3 million out of jobs, reported this week the Labour ministry.
Thursday, February 5th 2009 - 20:00 UTC
UN office proposes “South-South” trade to cope with crisis

Trade, investment and other cooperation between developing countries – so called ”South-South exchange – could soften the blow of the economic crisis on vulnerable economies, the head of the United Nations agency that promotes commerce to fight poverty said on Wednesday.
Thursday, February 5th 2009 - 20:00 UTC
Bank of England cuts rate to 1%, and hopes for the best

The Bank of England's Monetary Policy Committee voted on Thursday to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 1.0%. This marks the fifth interest rate cut since October, as the BoE seeks to encourage more lending and stimulate the UK economy which is officially in recession since December. Base rates stood at 5% last October.
Thursday, February 5th 2009 - 20:00 UTC
More snow storms cause transport havoc in frozen UK

More snow has fallen across a frozen UK amid warnings that some councils face dwindling salt supplies to help keep traffic moving. Travellers have faced fresh delays as up to five inches of snow fell in some parts with south Wales, western England, the Midlands and counties to the north of London worst hit.
Thursday, February 5th 2009 - 20:00 UTC
Argentina's Jan. car production plunges 54%; exports 60%

Argentina's car production plunged 54.6% in January compared to the same month last year, the Automakers' Chamber (ADEFA) reported yesterday

The number of cars manufactured in the country totalled 18,720, down from 41,228 in January 2008.
Thursday, February 5th 2009 - 20:00 UTC
Mining giant BHP Billiton half year profits fall 25%

Global mining giant BHP Billiton, which also has interests in the Falkland Islands oil industry, has seen its half-year profits fall by a quarter, saying it had been hit by “a rapid deterioration in market conditions”.