Economy

Sunday, February 18th 2007 - 20:00 UTC
Eight thousand bus drivers threaten to paralyze Santiago

The possible strike comes only a week after the new transit system was inaugurated and caused widespread confusion and public outrage after getting off to a slow start. Fenattrans president Sergio Cifuentes said the union was protesting the government for not responding to seven requests that the union sent to the government on January 8.
Sunday, February 18th 2007 - 20:00 UTC
Inflation and shortages expose Chavez jittery economics

Faced with accelerated inflation and shortages of basic foods Venezuela's president Hugo Chavez signed decrees against speculation and hoarding which enables authorities to take over businesses that produce or retail food, if they refuse to sell or are in violation of regulated prices.
Saturday, February 17th 2007 - 20:00 UTC
US calls on India and China to help boost global trade

Emerging economies such as India and China bear special responsibility to lower trade and investment barriers to help global expansion, said on Friday a senior U.S. Treasury Department official.
Saturday, February 17th 2007 - 20:00 UTC
Chavez promises less inflation and new currency

Venezuelan President Hugo Chavez announced Friday plans to reduce the value-added tax and reform the currency, in an effort to curb inflation and product scarcity.
Saturday, February 17th 2007 - 20:00 UTC
Latinamerican voters dissatisfied with their economies

Latin America's current drift to the political left suggests voters are uncertain, and in some cases dissatisfied, with their economies, said on Friday the head of the International Monetary Fund Rodrigo de Rato addressing a business conference in New York.
Friday, February 16th 2007 - 20:00 UTC
Mexican economy surprises and expands 4.8% in 2006

Mexico's economy, Latinamerica's largest expanded 4.8% in 2006 compared to 2005 and the highest in six years reported the Finance Secretary in an official release.
Thursday, February 15th 2007 - 20:00 UTC
Chile to take Argentina to WTO over agriculture subsidies

Chile announced early this week that it would file a new lawsuit against Argentina before the World Trade Organization (WTO) for the country's use of agricultural subsidies. The pending lawsuit would further strain relations between the two southern cone neighbors, as Argentina has already has filed two lawsuits against Chile before the WTO
Thursday, February 15th 2007 - 20:00 UTC
Brazil's primary surplus planned to drop to 3.75% of GDP

Brazil posted a 4.32% of GDP primary surplus in 2006 compared to 4.83% in 2005 revealed the country's Central Bank. The savings are equivalent to 41 billion US dollars.
Thursday, February 15th 2007 - 20:00 UTC
EU Parliament votes against diverting farm subsidies

A European Commission proposal that would have allowed Member States to divert some Common Agricultural Policy (CAP) direct farm payments to rural development spending was almost unanimously rejected by the European Parliament with 89 votes in favour, 584 votes against and 19 abstentions. The Commission must now decide if it will withdrawal the proposal.
Wednesday, February 14th 2007 - 20:00 UTC
US trade deficit in 2006 remained at 5.8% of GDP

The United States trade deficit rose 6.5% last year reaching a new record high of 763.6 billion US dollars reported Tuesday the US Department of Commerce.