Economy

Saturday, May 17th 2008 - 21:00 UTC
Brazil's Real rises to nine-year high; up 19% in 12 months

Brazil's Real rose to a nine-year high as the US dollar slumped and investor demand for commodities and higher-yielding assets increased. Last April 30 Standard & Poor's upgraded Brazilian debt sending the Real and the Sao Paulo Bovespa stock index to new records.
Saturday, May 17th 2008 - 21:00 UTC
EU and Latinamerican leaders promise tighter trade ties

Leaders from Latin America, Europe and the Caribbean wrapped up a one-day summit in Lima promising to tighten trade ties even as some Andean nations balked at signing new free-trade agreements.
Saturday, May 17th 2008 - 21:00 UTC
Governors creep into the Argentine farmers' conflict

Argentine provincial governors, from different angles have called on the striking farmers and the government to resume dialogue as the only way out to the two months stand off over a sliding grain and oilseeds export tax system which is “harming” the Argentine people and institutions.
Friday, May 16th 2008 - 21:00 UTC
“Worst of financial turbulence is over”, but hangover persists

The worst of the global financial turbulence is over, but the effects on the world economy will be felt for some time, the head of the International Monetary Fund said Thursday in Brussels before a European Parliament committee.
Friday, May 16th 2008 - 21:00 UTC
Bernanke urges banks to continue capital-raising efforts

United States Federal Reserve chairman Ben Bernanke urged financial institutions to remain proactive in their capital-raising efforts as market and economic conditions improve but he also called for better risk management amid “ongoing fragility” in the markets.
Thursday, May 15th 2008 - 21:00 UTC
Barclays announces £1 billion write down and lower profits

Britain's Barclays has taken a further one billion sterling write-down on assets and confirmed profits for the first quarter of 2008 will be lower than last year. Last month, the bank warned that tough trading in its investment bank division Barclays Capital during March would cut group profits for the quarter.
Thursday, May 15th 2008 - 21:00 UTC
Uruguay downplays possible impact of Argentine situation

Uruguayan financial authorities minimized the possible economic impacts on Uruguay of the current uncertainty scenario in Argentina because of the ongoing conflict with farmers and which has temporarily suspended the neighboring country's cereal and oil seeds exports.
Thursday, May 15th 2008 - 21:00 UTC
Chilean wineries plan to hike investment in Argentina

Several Chilean wine makers have recently disclosed plans to increase their investments in Argentina, a country also well-known for the alcoholic beverage.
Thursday, May 15th 2008 - 21:00 UTC
Uruguayan exporters' gruel government's economic policies

Uruguay's economic team defended the current government's policies and denied any loss of competitiveness, increased government expenditure or inflation out of control. However the Uruguayan business community was not entirely convinced with the arguments and complained about the inefficiency and high costs of energy and fuel provided by government monopolies.
Thursday, May 15th 2008 - 21:00 UTC
Uruguayan made Chinese cars export to Argentina

In thirty days time Chery-Socma Uruguay, a Chinese, Argentine Uruguayan consortium will be making its first export of Uruguayan assembled cars to Argentina. The announcement was made during a visit this week to the plant by Uruguayan president Tabare Vazquez and Hui Liangyu, China's Deputy Primer Minister.