Economy

• 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.

• Wednesday, February 14th 2007 - 20:00 UTC

  Falklands' new port development plan moves on

  

  The Falkland Islands Development Corporation (FIDC) this week announced the appointment of Scandinavian port experts Royal Haskoning to create a port development plan, which it is hoped will draw together the diverse needs of everyone using port facilities in the Falkland Islands.

• Wednesday, February 14th 2007 - 20:00 UTC

  Argentine banks switch to Europe

  

  US financial and anti-money laundering regulations have increased the cost of doing business with US banks to such an extent that Latin American businesses are turning to European financial institutions, Argentina's central bank chief said yesterday.

• Wednesday, February 14th 2007 - 20:00 UTC

  Fiat and India's Tata to build light trucks in Argentina

  

  Fiat and Tata announced in Milan, Italy the expansion of their strategic co-operation with their first industrial project outside India. Fiat will build a Tata bakkie (with Fiat badges) at its plant in Córdoba, Argentina, under an agreement that followed a feasibility study started in July 2006.