Economy

Wednesday, January 2nd 2008 - 20:00 UTC
Venezuela launches new currency to stem inflation

Venezuela launched a new currency with the New Year, lopping off three zeros from denominations in a bid to simplify finances and boost confidence in a money that has been losing value due to high inflation.
Wednesday, January 2nd 2008 - 20:00 UTC
Future is here: Brazilian economy at its best in 25 years

For years, the joke in this country was that Brazil's economy was the economy of the future. The morose punchline, of course, was that the future never arrives. But finally, it seems, the future is now.
Saturday, December 29th 2007 - 20:00 UTC
Sao Paulo stock exchange gained a record 43.4% in 2007

Brazil's main stock market, Ibovespa ended an exceptional 2007 with a turnover of 570 billion US dollars and its biggest annual gain in four years, over 40%. The Sao Paulo stock exchange closed Friday at 63.774 points, accumulating 43.4% gain over the closing of 44.473 points a year ago.
Saturday, December 29th 2007 - 20:00 UTC
US dollar lost 6.65% against the Chilean peso in 2007

The US dollar finished 2007 with an accumulated loss of 6.65% against the Chilean Peso which was boosted by the strong international price for copper, Chile's main export, and the favorable interest rates differential with the US, according to Santiago analysts.
Thursday, December 27th 2007 - 20:00 UTC
Titanic struggle for control of global raw materials market

Mining giant Rio Tinto continued to defend itself against an unsolicited offer from larger rival BHP Billiton on Thursday, saying it had greater potential as a standalone company while rumors of possible Chinese offers re-emerged.
Thursday, December 27th 2007 - 20:00 UTC
Argentine export boom forecasted to reach 55 U$S billion

Boosted by bull-market prices for commodities, record crops and a surge in industrial shipments Argentina's exports in the first eleven months of 2007 equaled the whole of 2006 and for the first time ever crossed the 50 billion US dollars benchmark.
Thursday, December 27th 2007 - 20:00 UTC
Chilean sheep farmer banned from selling livestock to the EU

A Tierra del Fuego sheep farmer has been banned by Chilean sanitary authorities from selling lambs and mutton to the European Union for having violated a self regulated sanitary and flock management program, reports Punta Arenas, La Prensa Austral.
Thursday, December 27th 2007 - 20:00 UTC
Argentine GDP to expand 7.2% and inflation 11% in 2008

Argentine Central Bank President Martin Redrado announced Wednesday before the Senate that the country's economy will grow 7.2% next year, with inflation averaging between 7 and 11% and exports above 60 billions US dollars.
Thursday, December 27th 2007 - 20:00 UTC
China supports strong Yuan to curb fuel and food prices

China's Yuan has soared against the US dollar in its biggest post-revaluation daily rise after the central bank signaled a shift in its policy. The Chinese central bank encouraged the jump by setting a very strong daily reference rate or mid-point of 7.3079.
Tuesday, December 25th 2007 - 20:00 UTC
WTO praises Brazil stance in the Doha Round trade talks

World Trade Organization director Pascal Lamy said Brazil had managed to impose its agenda in the current global trade liberation discussions and trusted that the Doha Round talks will be finalized in 2008.