Economy

• Wednesday, May 7th 2008 - 21:00 UTC

  WTO has no short term solution to soaring food prices

  The World Trade Organisation cannot deliver a short-term solution to soaring food prices but a successful end to global trade talks would help in the longer term, WTO chief said on Wednesday.

• Wednesday, May 7th 2008 - 21:00 UTC

  Argentina's car manufacturing posts record in April

  Argentina's car manufacturing industry posted an increase in production of 31.5% in April compared to the same month a year ago. The total number of units manufactured in April was 54.622, according to ADEFA car manufacturer's organization.

• Tuesday, May 6th 2008 - 21:00 UTC

  World central bankers warn of rising food prices and inflation

  

  European Central Bank President Jean- Claude Trichet, who chaired a meeting of central bankers of the world's leading nations warned on Monday about rising food prices and significant inflationary risks.

• Tuesday, May 6th 2008 - 21:00 UTC

  Uruguay heading for a record export year: 6 billion US dollars

  

  Uruguay's exports increased 59.6% last April compared to the same month a year ago, with the whole expansion for the first four months reaching 44%, according to the latest statistics released by the government funded institution Uruguay XXI.

• Tuesday, May 6th 2008 - 21:00 UTC

  Uruguay rice industry wants to double production

  Uruguay, South America's leading exporter of rice and among the world's top eight, traditionally has been forced to sell overseas 95% of its high quality grain given the country's scarce population and low consumption.

• Tuesday, May 6th 2008 - 21:00 UTC

  Uruguay's April inflation of 0.33% surprises experts

  Uruguay's consumer price index, CPI, increased 0.33% in April the best performance so far in 2008 and the lowest since April 1962. This means that CPI in the first four months of the year reached 3.2%, (annualized 9.92%) and below the same period in 2007 (4.98%), according to the latest release from the national Statistics Institute.

• Tuesday, May 6th 2008 - 21:00 UTC

  Anti-inflation plan cost Uruguay 0.8% of GDP in 7 months

  Public utilities rates subsidies which have been applied since September 2007 to help contain inflation have cost the Uruguayan treasury 185 million US dollars, equivalent to 0.8% of the country's GDP. Prices are estimated to have moderated 1.5% on an annual basis.

• Monday, May 5th 2008 - 21:00 UTC

  London's luxury rentals get an unexpected boost

  

  London's luxury rental market, already strong and becoming stronger, is getting a further boost from an unexpected source: the U.S. credit crunch.

• Sunday, May 4th 2008 - 21:00 UTC

  US Citibank says Argentina's economy is “getting muddy”

  

  In a report limited to top clients US Citibank forecasted last week that Argentina probably faces “an inflation acceleration accompanied or preceded by a flight of capital, leading to a forced landing”, if the current administration refuses to take measures to contain inflation.

• Friday, May 2nd 2008 - 21:00 UTC

  US judge freezes 16 billion in Argentine sovereign bonds

  

  A United States judge granted on Wednesday a request by bondholders suing Argentina to extend a freeze on as much as 16 billion US dollars in sovereign bonds issued by the country and which now held by the Depository Trust Co. in New York.