Economy

Wednesday, January 28th 2009 - 20:00 UTC
Drought forces Argentine soy crop estimate down 16%

The extreme drought conditions which most of Argentina's rich farmland is suffering will have an impact on the soybean crop that is now estimated in the range of 40 million tons, down 16.7% from the previous crop according to the Argentine Association of Agriculture experimentation regional consortia, AACREA.
Tuesday, January 27th 2009 - 20:00 UTC
Drought-devastated Argentina declares camp emergency

The Argentine government declared on Monday an agricultural emergency in areas affected by the worst drought to hit the country in four decades and which has extended to most of the country's farmlands.
Tuesday, January 27th 2009 - 20:00 UTC
Protectionist Brazil: restrictions on 60% of imports

Brazil announced it has imposed restrictions on 60% of imports “to soften” the impact of the global crisis in its trade balance which in the first four weeks of January has registered a totally unexpected deficit of 645 million US dollars.
Tuesday, January 27th 2009 - 20:00 UTC
Job losses in Latam expected to reach 2.4 million says ILO

The International Labour Organisation (ILO) says as many as 2.4 million Latin Americans could lose their jobs this year due to the global economic crisis.
Tuesday, January 27th 2009 - 20:00 UTC
Record capital flight from Argentina last year: 23 billion USD

Money leaving Argentina trebled in 2008 compared to the previous year and was 23% higher to the great capital flight of the second half of 2001 and first half of 2002 which totalled 18.7 billion US dollars and triggered the collapse of the banking system and melting of the economy, according to a report in La Nacion.
Monday, January 26th 2009 - 20:00 UTC
UK recession “predictor” warns of 3 m unemployment

The economist whose recession warnings and calls for interest rate cuts were snubbed by Bank of England colleagues warned in an interview he feared UK unemployment could hit three million in a year's time.
Monday, January 26th 2009 - 20:00 UTC
Falklands air link Defence contractor back on profit course

Scotland's biggest airline Flyglobespan, which has contract for the Falklands/UK air link is back on profit course after a successful 2008 which included the restructuring of destinations and limiting operations to services it could provide with its won planes.
Saturday, January 24th 2009 - 20:00 UTC
Unemployment in Spain reaches 13.9%, highest in 9 years

Unemployment in Spain during 2008 increased by 1.2 million, a 66.4% jump over 2007 taking the official rate to 13.9% which is the highest in 9 years according to the latest figures released by the country's Statistics Institute, INE.
Friday, January 23rd 2009 - 20:00 UTC
EU reintroduces export subsidies for dairy produce

The European Union has reintroduced export subsidies for dairy produce, arguing that the economic downturn has put many European farms at risk. The maximum refund for butter has been set at 500 Euros (£469; $650) per ton and the maximum for skimmed milk powder is 200 euros per ton. The last time such refunds were given to dairy farmers was in June 2007.
Friday, January 23rd 2009 - 20:00 UTC
Britain in recession and fears of prolonged contraction

Britain has officially entered recession after figures showed the worst economic output since 1980, sparking fears of a deep and prolonged contraction. The economy shrank by a worse-than-expected 1.5% in the final three months of 2008, according to the Office for National Statistics (ONS).