Economy

Friday, November 9th 2007 - 20:00 UTC
FAO forecasts high world cereal prices next year

World cereal prices are expected to stay high during the next year because of low global stocks, production problems and continued strong demand, according to the latest forecast of the United Nations Food and Agriculture Organization (FAO), released Wednesday.
Friday, November 9th 2007 - 20:00 UTC
Argentina's business leaders optimistic about the economy

Argentina's most influential businessmen anticipate a stable to optimistic economic scenario for the next semester according to an opinion poll among 173 corporate CEO, a most unusual forecast in a country historically unstable when governments change.
Thursday, November 8th 2007 - 20:00 UTC
Chinese “weak currency” curse sends US dollar tumbling

A Chinese official sent the US dollar plunging in markets when he said China would shift more of its huge international reserves into “stronger currencies” such as the Euro to offset “weak” currencies like the dollar.
Thursday, November 8th 2007 - 20:00 UTC
BoE adopts wait and see policy and leaves rates at 5.75%

The Bank of England left UK interest rates unchanged at 5.75% for the fourth month running. The Thursday decision is likely to have been influenced by the surging oil price and the growing risk of inflation.
Thursday, November 8th 2007 - 20:00 UTC
Euro interest rates on hold and geared to price stability

Despite the strength of the Euro which is closing on the 1.50 US dollar benchmark, the European Central Bank, ECB, left interest rates in the 13-nation Euro zone unchanged at 4% with a clear orientation towards maintaining price stability.
Wednesday, November 7th 2007 - 20:00 UTC
October surprise in Uruguay: retail prices drop 0.23%

The consumers' prices index, CPI in Uruguay dropped 0.23% in October pushed down by the significant decrease in urban transport rates and health costs, both government managed prices.
Wednesday, November 7th 2007 - 20:00 UTC
Argentina's October inflation 0.7%; 6.6% in ten months

October inflation in Argentina jumped 0.7% reaching 6.6% so far this year, while wholesale prices increased 0.9% and 12.7% in the last ten months according to the official release from Statistics and Census Institute.
Wednesday, November 7th 2007 - 20:00 UTC
Argentina hikes export taxes on soybeans and cereals

Amid protests from farmers' organizations, Argentina increased taxes on exports of soybeans, corn and wheat an average of five percentage points to boost government revenue from surging crop prices and limit domestic food inflation.
Wednesday, November 7th 2007 - 20:00 UTC
Mercosur requests WTO 16% expansion of sensitive goods

Mercosur will request this week before the World Trade Organization, WTO, a 16% expansion in the number of sensitive industrial goods to be excluded from the consolidated tariff expected to be agreed during the Doha Round negotiations, which to all practical effects will mean an overall drop in external tariffs for out of the region imports.
Tuesday, November 6th 2007 - 20:00 UTC
Fears of weaker dollar shoot oil and gold to record highs

Oil prices have risen to a record high above $97 a barrel, amid concerns over tight fuel stocks and a weak US dollar.