Economy

• Thursday, September 11th 2008 - 21:00 UTC

  Helicopter sales soar with mining industry in Chile

  

  Helicopter sales in Chile are going up, up, up. Due to the dramatic growth of the mining and energy sectors, the country has tripled its sales of the aircrafts in the past three years. In 2005, the main provider of helicopters in the country sold only six units, while this year they have already sold 22.

• Thursday, September 11th 2008 - 21:00 UTC

  Uruguay enjoys solid situation, boasts Minister Astori

  

  Uruguayan Economy minister Danilo Astori who next week steps down to return to his Senate bench and hopefully to become the presidential candidate for the ruling coalition, said that a balanced budget “has no political color be it left or right” and anticipated that this will be a record growth year for the economy.

• Thursday, September 11th 2008 - 21:00 UTC

  Peru tries to cool fastest growing regional economy

  

  The Peruvian Central Bank raised on Thursday its benchmark interest rate to 6.5% from 6.25%, the latest of several measures to curb inflation. The announcement followed a release from the Ministry of Economy and Finance saying the economy had expanded in July at an estimated 8.9% boosted y by domestic demand and construction industry.

• Wednesday, September 10th 2008 - 21:00 UTC

  Brazilian economy expanded 6% in the first half of 2008

  

  Brazil's economy expanded 6.1% in the second quarter of 2008 compared to the same period a year ago and 1.6% over the previous quarter, according to the latest release from the Brazilian Geography and Statistics Institute, IBGE. Similarly in the first half of this year Brazil's GDP increased 6% compared to the same period a year ago.

• Wednesday, September 10th 2008 - 21:00 UTC

  China trade surplus hits new record in August: 28.7 b. USD

  China's trade surplus hit a monthly record of 28.7 billion US dollars in August, despite weaker world demand. Other official data showed consumer inflation in the month decreased considerably to a 14 month low of 4.9%.

• Wednesday, September 10th 2008 - 21:00 UTC

  Norway blacklists Rio Tinto over environment concerns

  

  Norway is banning its sovereign wealth fund from investing in Anglo-Australian mining firm Rio Tinto because of environmental concerns. The country's Finance minister Kirsten Halvorsen said the 875 million US dollars stake held by the country's “oil fund” would be sold.

• Wednesday, September 10th 2008 - 21:00 UTC

  Lehman almost KO and no “white knight” on sight

  

  Troubled US investment bank Lehman Brothers has reported a massive third quarter net loss and outlined radical plans to strengthen its finances.

• Tuesday, September 9th 2008 - 21:00 UTC

  Brazil/Argentina bilateral trade to abolish US dollar

  

  Brazilian and Argentine presidents Lula da Silva and Cristina Fernandez de Kirchner signed on Monday an agreement which officially launches the use of their countries currencies for bilateral trade instead of the US dollar.

• Tuesday, September 9th 2008 - 21:00 UTC

  Brazil market slumps and Real declination period forecasted

  Brazil's Bovespa index fell 4.5% on Tuesday and the lowest level in a year as prices for top commodity exports slumped and Finance minister Guido Mantega predicted the currency will extend its steepest monthly decline since 2002.

• Monday, September 8th 2008 - 21:00 UTC

  IMF praises US decision to take over mortgage agencies

  

  The United States government decision to place its leading mortgage agencies into conservatorship “will help support markets and by extension the economic and financial situation” said International Monetary Fund Managing Director Dominique Strauss-Kahn in a Monday release.