Economy

• Friday, July 31st 2009 - 03:32 UTC

  Spanish Central bank warns about budget deficit and market confidence

  

  The Spanish economy contracted 0.9% in the second quarter of the year, an improvement over the 1.9% fall of the previous quarter but still 4% below the same quarter a year ago, according to the latest release from the Central Bank.

• Thursday, July 30th 2009 - 14:02 UTC

  The US dollar to remain as world’s reserve currency says IMF chief

  

  The US dollar is likely to remain as the world’s reserve currency said on Wednesday International Monetary Fund Managing Director Dominique Strauss-Kahn interviewed by France 24 television.

• Thursday, July 30th 2009 - 06:36 UTC

  Unemployment in metropolitan Santiago down to 11.9%

  

  A report released by the University of Chile placed the unemployment rate of Santiago’s greater metropolitan area at 11.9%. The number marks a nearly one percentage point decrease from March, when the unemployment rate climbed to 12.8% in the metropolitan area.

• Thursday, July 30th 2009 - 06:27 UTC

  Brazil’s budget deficit widens but should begin to recover by end of 2009

  

  Brazil’s nominal budget deficit for the first half of 2009 widened to 43.7 billion Reais (23 billion US dollars), the largest since 2001, according to the latest release from the Central Bank.

• Thursday, July 30th 2009 - 06:19 UTC

  Argentina and Brazil agree to continue disagreeing (less intensely) in trade issues

  

  Brazil and Argentina reached “relatively productive” results following the Sao Paulo meeting of the bilateral trade monitoring committee to address the ongoing restrictions imposed by Argentina to Brazilian exports, according to diplomatic sources from both sides.

• Thursday, July 30th 2009 - 06:11 UTC

  UK richest fifth have gross income 16 times higher than the poorest fifth

  

  The gap between the rich and poor in the United Kingdom remained at a high level in 2007-8, official statistics have shown. The richest fifth of the population had an income, before tax and benefits, 16 times greater than the poorest fifth.

• Thursday, July 30th 2009 - 06:05 UTC

  IMF announces more loans and zero interest for the world’s poorest countries

  

  The IMF has announced a new framework for loans to the world’s poorest nations, including increased resources, a doubling of borrowing limits, zero interest rates until the end of 2011, and more flexible terms.

• Thursday, July 30th 2009 - 03:32 UTC

  NZ dairy farming group in Uruguay raised 30 million USD locally

  

  NZ Farming Systems Uruguay Ltd has raised 30 million US dollars by selling a first tranche of bonds in Uruguay. The non-convertible bonds have an expected maturity of about 15 years, and pay a fixed interest rate of 5% until September 30, 2010.

• Thursday, July 30th 2009 - 03:29 UTC

  Chile wine production increases in volume and quality

  

  The Chilean wine industry produced more wine, and of better quality, in 2009 than any previous year, according to a recent report by the Office of Agriculture and Livestock (SAG).

• Wednesday, July 29th 2009 - 12:32 UTC

  Capital flight in Argentina averages record 2 billion USD per month

  

  Capital flight from Argentina has reached proportions similar to those of 2001, according to economist Rodrigo Alvarez from consultants Ecolatina. He warned it was imperative for the government to restore confidence given the overall perception that “there is a limited capacity to solve problems”.