Economy

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.
Thursday, May 1st 2008 - 21:00 UTC
US mortgages rot deep rooted in German banks

The European Union on Wednesday approved a German bailout of WestLB, a regional bank that lost billions from US mortgages gone badly. Germany can now put up 5 billion Euros to help the bank ride out its exposure to the subprime banking crisis.
Thursday, May 1st 2008 - 21:00 UTC
Inflation, the main concern for majority of Argentines

Inflation has become the main concern of a majority of Argentines, leaving aside other issues such as insecurity and poverty according to the latest public opinion polls from Ibarometro and Hugo Haime & Associates, released this week in Buenos Aires and which refers to the second half of April.
Wednesday, April 30th 2008 - 21:00 UTC
Uruguay anticipates commodities export boom to continue

Uruguay's Economy minister Danilo Astori said there's no indication forecasting “the fall of Uruguayan exports international prices” in the framework of the current global surge of commodity prices.
Wednesday, April 30th 2008 - 21:00 UTC
Fed cuts rate to 2%; forecasts soft growth in next quarters

The United States Federal Reserve cut on Wednesday its key interest rate 25 points from 2.25% to 2% as it aims to avoid a possible US recession. It is the seventh rate cut since last September, when the rate was cut from 5.25% to 4.75% and in the range of what markets were expecting.