Economy

Sunday, June 22nd 2008 - 21:00 UTC
US dollar drops to July 2002 level in Uruguay markets

For the sixth week running the US dollar has depreciated againts the Uruguayan peso in the local Money market accumulation a loss of 9.98%. In the 26 weeks of 2008, the Uruguayan peso has increased during 19.
Sunday, June 22nd 2008 - 21:00 UTC
Brazil targets joining world milk production short list in 5 years

In five years Brazil could climb from seventh to first position as the world's main milk producer, according to Marcus Ellias head of the trust controlling the former Italian dairy giant Parmalat Brazilian branch.
Saturday, June 21st 2008 - 21:00 UTC
Punta Arenas short of staples because of farmers' conflict

Punta Arenas in the extreme south of Chile is suffering a critical shortage of staples mainly sugar, rice and flour as a direct consequence of the Argentine farmers conflict that has been dragging for over 100 days.
Thursday, June 19th 2008 - 21:00 UTC
Lula and top aides in financial summit to curb inflation

Brazilian President Lula da Silva, cabinet ministers and his main economic advisors are considering a range of measures, (from budget cuts to pruning credit) with the purpose of curbing inflation according to Folha de Sao Paulo
Thursday, June 19th 2008 - 21:00 UTC
Roughly 60% Chileans in debt; 80% overspends

Roughly 60% of the Chilean population is in debt, according to a study published this week by the country's Central Bank. And perhaps surprisingly, middle class Chileans account for about 67% of the debt.
Thursday, June 19th 2008 - 21:00 UTC
US drivers making less mileage for sixth month running

At a time of record-high gasoline prices and a corresponding surge in transit ridership, US citizens are driving less for the sixth month in a row, highlighting the need to find a more sustainable and effective way to fund highway construction and maintenance, said United States Transportation Secretary Mary E. Peters.
Thursday, June 19th 2008 - 21:00 UTC
Argentina honoring contracts with soy from Paraguay

Argentina is only shipping soybeans from Paraguay in an attempt to honor overseas contracts since no local supplies are arriving to export ports because of the 100-day farmers' stand off with the administration of President Cristina Fernandez de Kirchner.
Wednesday, June 18th 2008 - 21:00 UTC
Quarter point hike in Euro rate almost certain next July

European Central Bank Executive Board member Juergen Stark said the acceleration in Euro zone inflation to 3.7% in May, the highest rate recorded since the launch of the Euro is a cause for alarm.
Tuesday, June 17th 2008 - 21:00 UTC
Bank of England and Chancellor confirm higher UK inflation

Bank of England Governor Mervyn King has warned that inflation could rise above 4% this year as oil and energy prices soar. In an open letter to the Chancellor after official inflation hit 3.3%, Mr King said he had revised previous forecasts upwards due to a 15% rise in oil prices during the past month and the prospect of higher gas and electricity bills.
Tuesday, June 17th 2008 - 21:00 UTC
Lula da Silva and top banker determined to stop inflation

Brazilian President Lula da Silva and the country's top banker said fighting inflation remains a top priority, the latest warning against surging consumer prices. Speaking to an audience of investors at the Sao Paulo stock exchange, Lula da Silva said the government is determined to stop short-term inflation pressures from becoming permanent.