Economy

Saturday, April 5th 2008 - 21:00 UTC
Unemployment in the US jumps to 5.1% in March

Unite States employers shed 80.000 jobs in March, Labor Department figures have shown, in the latest sign that the US economy may be falling into recession. The decline was the third monthly drop in succession, and worse than market expectations of a 60,000 reduction.
Friday, April 4th 2008 - 21:00 UTC
Uruguay considering food price subsidies to contain inflation

Uruguay's March consumer price index CPI jumped 1.14%, the highest since last August and fourth running in the past six months, according to the latest release from the Statistics Office. Government officials expressed concern but cautioned that “consumer inflation has become a challenge all over the world”.
Friday, April 4th 2008 - 21:00 UTC
Diversified markets have cut Brazil's exposure to US crisis

Brazil's Foreign Secretary Celso Amorim said that those countries which have signed free trade agreement with United States are the most vulnerable to the consequences of the US housing and banking crisis, contrary to Brazil that has “diversified markets”.
Friday, April 4th 2008 - 21:00 UTC
Brazil plan to increase wheat production and cut imports

Brazil announced drastic plans to increase wheat production and cut its dependency on imported grain mainly from Argentina. The target is by 2012 to supply 60% of the domestic market. Brazil currently imports 80% of the wheat consumed by its population of 186 million.
Thursday, April 3rd 2008 - 21:00 UTC
World rice production forecasted to increase 1.8% in 2008

UN Food and Agriculture Organisation (FAO) has predicted that world rice production is expected to rise by 12 million metric tonnes or 1.8% in 2008, assuming normal weather.
Thursday, April 3rd 2008 - 21:00 UTC
Real too strong, warn Brazil's panel of “wise-economists”

Brazil's central bank must keep the benchmark interest rate unchanged for the time being and avert increases that would further strengthen the Real and derail an economic expansion, said two economic advisers of President Lula da Silva according to reports in the Sao Paulo financial press.
Thursday, April 3rd 2008 - 21:00 UTC
Bernanke in Congress admits “recession” is in his vocabulary

Federal Reserve Chairman Ben Bernanke warned on Wednesday that US gross domestic product (GDP) could contract in the first six months of 2008. If this happens the US would be in recession since two consecutive three-month periods of negative growth is generally accepted as such.
Thursday, April 3rd 2008 - 21:00 UTC
Hostage release and Paris Club in CFK Sarkozy summit

With the farmers' conflict in recess for thirty days, Argentine president Cristina Fernandez de Kirchner, CFK, is preparing to fly next Saturday to Paris where on Monday she will meet with French President Nicolas Sarkozy to work on an agenda of mutual interest which could have significant political benefits.
Wednesday, April 2nd 2008 - 21:00 UTC
Fears of inflation as Brazil's industrial output climb 9.7%

Brazil's industrial output climbed 9.7% in February, the highest in the last four months and the 20th straight gain in year-on year industrial production according to the latest release from the government.
Wednesday, April 2nd 2008 - 21:00 UTC
Paraguay faces double impact of the weakening US dollar

Paraguay is increasingly concerned with the weakness of the US dollar which together with the landlocked South American country commodities export boom is appreciating the local currency far above the Central Bank's target.