Economy

• Monday, May 7th 2007 - 21:00 UTC

  New record for copper but US dollar in Chile keeps falling

  Copper prices rose to a ten-month record high Friday of US$ 3.73 per pound at the London Metal Exchange. This helped push the value of the U.S. dollar in Chilean money markets to new lows and led speculation about the effects this might have in the country's economy.

• Monday, May 7th 2007 - 21:00 UTC

  April retail prices hike questions Uruguay's inflationary target

  

  Alarm bells are ringing in Uruguay following the release of April's Consumer Prices Index, 1.22% totaling 4.58% in the first four months of 2007 and 8.11% in the last twelve months, when the overall target for this year was established in the range of 4.5% to 6.5%.

• Friday, May 4th 2007 - 21:00 UTC

  Brazilian stocks record; Bovespa index above 50.000 points

  Brazilian stocks climbed Thursday to a new record pushing the benchmark Bovespa index above 50,000 for the first time. The index of most-traded shares on the Sao Paulo exchange rose 746.68 or 1.5% to 50,218.22.

• Friday, May 4th 2007 - 21:00 UTC

  South American countries agree creation of development bank

  

  The Finance and Economy ministers from Argentina, Brazil, Bolivia, Ecuador, Paraguay and Venezuela decided Thursday in Quito the creation in parallel of a development bank and a macroeconomic stabilization fund to support financially the region.

• Friday, May 4th 2007 - 21:00 UTC

  S&P Raises Uruguay Outlook to Positive

  S&P has raised its outlook on Uruguay's B+ sovereign credit rating to positive from stable to reflect expectations of a sustained implementation of the economic policy agenda.

• Thursday, May 3rd 2007 - 21:00 UTC

  South America set for dairy increase

  

  The FAO and other specialists of the Dairy Industry predict that, by year 2027, world demand for dairy products will have increased 20% while the price of milk will maintain the same and South American countries will become the key players of the world market for supply of dairy products.

• Wednesday, May 2nd 2007 - 21:00 UTC

  US regional offensive in support of free trade agreements

  

  United States Deputy Secretary of State John D. Negroponte warned Wednesday that rejection by the Democrat controlled Congress of free trade agreements with Colombia, Peru and Panama would mean a serious blow for Washington's interests in the region.

• Sunday, April 29th 2007 - 21:00 UTC

  Latam must prepare for China post raw materials trade

  

  The trade honeymoon between China and Latin America cannot last forever, experts warn: sooner or later, the Asian giant will reduce its need for raw materials, and countries across the Americas will then have to offer value-added, higher-tech goods.

• Saturday, April 28th 2007 - 21:00 UTC

  IMF concerned with “social gaps” and “populist” governments

  Latin American governments should increase social spending while maintaining sound fiscal policies to reduce poverty and growing political dissatisfaction in the region, IMF Managing Director Rodrigo de Rato said at a conference in Boston.

• Friday, April 27th 2007 - 21:00 UTC

  China confident in reining inflation with higher interest rates

  

  Inflation in China is forecasted to stay within the government's target zone of 3% in 2007 giving Beijing authorities enough space to push ahead with pricing reforms for resources, according to a government economist.