Economy

Thursday, January 18th 2007 - 20:00 UTC
Bank of Japan leaves basic rate unchanged at 0.25%

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.
Thursday, January 18th 2007 - 20:00 UTC
US consumer prices up 0.5% in December; 2.5% in 2006

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.
Wednesday, January 17th 2007 - 20:00 UTC
Chilean fruit industry warns about “cheap” dollar and costs

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.
Wednesday, January 17th 2007 - 20:00 UTC
Argentine agriculture sales to Mercosur grow 23% in 2006

Argentina in the first eleven months of last year exported to its partners in the Mercosur trade bloc 7.9 million tonnes of products of animal and vegetal origin for 1.9 billion dollars, an increase of 23% in volume and of 26% in revenue regarding the 6.4 million tonnes and 1.5 billion dollars of the same period of 2005, the Senasa phytosanitary watchdog reported Tuesday in Buenos Aires.
Wednesday, January 17th 2007 - 20:00 UTC
Remittances, biggest source of income for many countries

Migrant workers sending money home has become the biggest source of foreign income in some poor European countries, the World Bank has said.
Wednesday, January 17th 2007 - 20:00 UTC
China confirms international reserves above a trillion dollars

China's foreign currency reserves stood at more than one trillion US dollars by the end of 2006, according to official figures from the country's Central Bank.
Tuesday, January 16th 2007 - 20:00 UTC
China's “only interest” in Latam is finite resources

China is willing to invest billons of US dollars in Latinamerica to ensure the supply of natural resources but the region's leaders are wrong if they believe that “ideological similarities” guarantee a long cooperation since the interest of Beijing is opportunity, according to the Hong Kong based “China Economic Review”.
Sunday, January 14th 2007 - 20:00 UTC
Chile's 2006 inflation rate, 2.6%; 2007 target 3%

Chile's National Statistics Institute (INE) reported 2.6% inflation for 2006, well within the goal set by Chile's Central Bank.
Friday, January 12th 2007 - 20:00 UTC
Penguin News Update

Headlines: Royal visit; Vet hopeful of reindeer recovery; Holberg en route to Monte; This week's cruise visitors.
Friday, January 12th 2007 - 20:00 UTC
Tax on Argentine soy exports to subsidize food basket

With the purpose of ensuring in 2007 an inflation of one digit, the Argentine government announced subsidies for items making up the basic food basket to be partially financed with additional taxing on soybean exports.