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Vale wins environmental permit for Brazil rail expansion SAO PAULO: Brazil's environmental regulator gave the world's No. 2 mining company Vale a green light on Monday to expand the Carajas railroad, a key part of its plans to increase iron ore output in the Amazon.   Approval from government agency Ibama will allow Vale to extend the Carajas railway by 786 kilometers (499 miles) and raise capacity to 230 million tonnes of iron ore per year from 130 million metric tonnes, the company said in a statement.   The railway, known as EFC, carries nearly 10 percent of the world's sea-borne iron ore exports, or about 1 billion tonnes a year, from the Amazon mine complex at Carajas to the Port of Ponta da Madeira in the state of Maranhão, Brazil.   Work on the railway expansion, a $4.1 billion project, should be completed in 2017, supporting Vale's $8.04 billion expansion of the Carajas complex. The expansion, known as S11D, is expected to begin ...

Argentina Sept economic activity up 0.1pc yr/yr  BUENOS AIRES: Argentina's economic activity was almost flat in September, rising just 0.1 percent from the same month last year and missing market expectations for 1.6 percent growth, government data showed on Friday.   The EMAE economic activity index, a close proxy for gross domestic product, rose 0.3 percent in September versus August.   Copyright Reuters, 2012 ...
Brazil builder PDG SAO PAULO: Brazilian homebuilder PDG Realty SA posted a 90 percent drop in third-quarter earnings from a year earlier on Thursday as it cut back new construction and struggled to finish old projects.   The company's net income of 27 million reais ($13.1 million) in the quarter missed an average estimate of 41 million reais in a Reuters poll of analysts. In the year ago quarter the company earned 261.6 mln reais.   PDG slashed new project launches in ...
Rajoy sees economic growth for Spain in 2014 SANTIAGO: Spanish Prime Minister Mariano Rajoy offered assurances in an interview published Wednesday amid growing labor turmoil that his country's recession-bound economy will begin to recover in 2014.   "The foundations are being set for the economic recovery, although it hasn't happened yet," he said in comments carried by the Chilean newspaper El Mercurio.   His remarks came as Spanish labor unions staged a second general strike this year against his government's austerity measures, with picket lines going up ...
Dutch spokeswoman for Colombian rebels misses home BOGOTA: Tanja Nijmeijer, the FARC rebel group's Dutch-born spokeswoman in peace talks with the Colombian government in Havana, says she sometimes gets homesick and would love to make a brief visit home.   "I have missed my country so much in recent years. I used to listen to Radio Nederland and when I would hear the Dutch national anthem I got homesick and sad," Nijmeijer, 34, said in an interview from Havana with the Anncol news  portal, ...
Brazil retail sales likely grew in Sept for 4th month  SAO PAULO: Retail sales in Brazil likely grew in September for the fourth month in a row as low unemployment and rising wages continued to support supermarket sales, a Reuters poll showed.   However, the increase was probably not enough to offset a drop in industrial output in the same month and support the economy - highlighting the uneven nature of Brazil's recent growth and suggesting that economic activity sputtered as the third quarter ended.   Retail sales likely ...
Mexican army frees 28 apparent kidnap victims MEXICO CITY: Mexican army troops freed 28 people who had apparently been kidnapped, most of them from Central and South America, officials in Tamaulipas state said Sunday.   Such migrants are often preyed on by organized crime gangs and drug traffickers as they try to make their way north to the United States in search of work and a better life.   Troops acted Saturday night in the northeastern state of Tamaulipas after receiving a tip-off that people were ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
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WeeklyAugust 15, 2014
Reserves $14.264 bln