Economy

Friday, August 22nd 2008 - 21:00 UTC
Uruguay: Organic wool has become the great challenge

There is a strong growing demand in the world for “organic” wool and consumers are willing to pay a bonus, which is a promising advantage for Uruguay and its textile industry, said Pedro Otegui, one of the country's leading wool and textile exporters.
Friday, August 22nd 2008 - 21:00 UTC
China, net food importer in cash terms so far this year

China became a net food importer in money terms in the first half of this year, as soaring food prices ate into its traditional surplus in agricultural goods. The swing into deficit largely reflects the surge in prices of commodity staples such as grain and soybeans.
Friday, August 22nd 2008 - 21:00 UTC
UK economy growth grinds to standstill in second quarter

The United Kingdom economy ground to a standstill in the second quarter of 2008 with GDP registering no growth at all according to official figures released on Friday.
Friday, August 22nd 2008 - 21:00 UTC
Chile private copper sector overtakes government mines

Chile's private copper mining company Minera Escondida surpassed the traditionally dominant state-owned CODELCO in copper production and revenue for the first time in the first economic semester of 2008, Chilean daily El Mercurio reported this last weekend.
Friday, August 22nd 2008 - 21:00 UTC
US inflation outlook “highly uncertain” says Fed' Bernanke

US Federal Reserve chairman Ben Bernanke said the inflation outlook for the country is “highly uncertain”. Rising prices, coupled with the effects of the credit crunch, had given the US economy a battering.
Friday, August 22nd 2008 - 21:00 UTC
Insufficient calves and forage threaten Uruguay beef industry

Uruguay which has been breaking beef export records for the last few years is facing growing difficulties in keeping the necessary calves' production level, while the large farmlands dedicated to agriculture keep expanding and forage sowing has been delayed because of lack of sufficient rains.
Thursday, August 21st 2008 - 21:00 UTC
Argentina: drought has killed 700.000 cattle and delayed sowing

A severe drought in central north Argentine provinces has caused the death of 700.00 livestock, hampered milk production and delayed sowing wheat and sunflower in other regions of the country, according to farmers' organisations leaders.
Wednesday, August 20th 2008 - 21:00 UTC
Private sector says Argentina's budget must increase 19%

The Argentine government will have to increase in 19% its budget for 2008 and in 16% its income in order to balance public spending, as the estimations with which it was calculated “were surpassed” by inflation.
Wednesday, August 20th 2008 - 21:00 UTC
BoE split three ways over August interest rate setting

Bank of England policymakers were split three ways for the second meeting in a row at their interest rate-setting meeting earlier this month. Minutes of the meeting showed seven members of the Bank's nine-strong rate- setting body voted to hold rates at 5%.
Wednesday, August 20th 2008 - 21:00 UTC
Third Korean ban in a month on Chilean pork exports

South Korea for the third time in less than a month temporarily suspended all imports of Chilean pork following the discovery of excessive dioxin levels in a shipment of eleven tons, reported the Ministry for Food, Agriculture, Forestry and Fisheries.