Economy

Thursday, October 8th 2009 - 03:21 UTC
Santander Brazil successfully completes biggest share offering

The Brazilian unit of Spanish banking giant Santander has raised 14.1 billion Reais, approximately 8.1 billion US dollars) in the country's biggest share offering.
Thursday, October 8th 2009 - 02:26 UTC
Carrefour denies considering exiting Latinamerican “lucrative markets”

French retailer Carrefour is seriously considering exiting Latin America, one of its most lucrative markets, under pressure from top shareholders, Le Monde newspaper reported in a preview of its Thursday edition.
Thursday, October 8th 2009 - 02:22 UTC
Argentina discussing details of IMF technical mission visit to the country

Following his forty minutes Tuesday meeting with IMF head Dominique Strauss-Kahn, Argentine Economy Minister Amado Boudou said that ”the new relationship (Argentina is) building with the IMF is purely technical and numbers-related, but by no means does it mean an interference with Argentine policy.”
Thursday, October 8th 2009 - 02:19 UTC
Prospects of another record grains crop for Brazil: 141.1 million tons

Brazil expects the coming 2009/2010 grains crop to reach 141.1 million tons, which represents an increase in the range of 2.9% to 4.8% over the 2008/09 record harvest of 135.16 million tons, according to the country’s National Supply Corportion, Conab.
Wednesday, October 7th 2009 - 09:59 UTC
Uruguayan economy set to grow 0.6% this year and 3.5% in 2010, says IMF

Uruguay’s economy is set to grow 0.6% this year and 3.5% in 2010 according to the latest estimates from the International Monetary Fund. This means Uruguay together with Peru will be the only two countries in South America that will expand in 2009. The previous IMF forecast was 1.3% and 2%.
Wednesday, October 7th 2009 - 05:42 UTC
Australia breaks G20 monetary trend and raises main interest to 3.25%

Australia has raised its main interest rate to 3.25% from 3%, becoming the first G20 nation to do so as the global economy begins to recover. The move by its central bank was not unexpected as the Australian economy was the only one in the developed world to expand in the first half of 2009.
Wednesday, October 7th 2009 - 05:38 UTC
France and Arab countries deny ditching the US dollar in oil market

France dismissed on Tuesday as “speculation” a British newspaper report that it was in secret talks with Gulf Arab states, Russia, China and Japan to replace the US dollar with a basket of currencies in trading oil.
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.