New York City is losing its competitive edge and could give up its lead as the financial capital of the world in ten years according to a report commissioned by Mayor Michael Bloomberg and NY Senator Charles Schumer.
Several Argentine farmers associations are planning a full day of protest for next Tuesday in four main cities to express their dissatisfaction and rejection with the current agriculture policy of President Nestor Kirchner's administration.
Brazil is still far from the much coveted Investment Grade in spite of financial market speculations according to the risk rating agency Fitch Ratings which estimates that the BBB qualification will have to wait two to three years.
Five years ago in the middle of political and economic chaos Argentina defaulted and devalued the currency putting an end to a decade of a fixed exchange rate of one peso equivalent to one US dollar.
Following on Argentina's steps, Ecuador plans to cover fiscal needs with the sale of bonds to Venezuela and will renegotiate part of its sovereign bonds only admitting 40% of face value, announced Ecuadorian Finance minister Ricardo Patiño.
Argentina's industrial production grew 8.3 percent last year mainly fuelled by a good performance in the car, construction and food sectors, achieving 50 straight months of growth, according to the state-run INDEC statistics and censuses agency.
Uruguay and United States will sign next week a trade and investment agreement to strengthen and diversify bilateral trade relations announced in Washington John Veroneau, deputy chief of the US Trade Representative Office.
The Bank of Japan left Thursday its benchmark interest rate unchanged at 0.25%, following two days of deliberations and apparently appeasing government officials who say consumer spending and inflation are still too weak.
The United States consumer price index increased 0.5% last December, the sharpest rise in eight months, ending 2006 at 2.5% which however is an improvement over the 3.4% of 2005, reported Thursday the US Labor Department.
Chile's fruit producers had a tough year in 2006, suffering from unfriendly exchange rates despite the association of Chile's Fruit Producers (Fedefruta) appealing for the government to push for a higher-valued U.S. dollar.