Stories for March 14th 2007
Inflation up in China; fears of more credit tightening
Consumer prices in China during February were up 2.7% from a year ago, against January's rate of 2.2%, the National Bureau of Statistics said Tuesday.
US mortgage bubble sends jitters to world markets
Late mortgage payments and home repossessions in the United States reached their highest level according to the Mortgage Bankers Association (MBA) data confirming investor fears that the sector is struggling and may weaken more.
OECD recommends leaving interest rates unchanged
The Organization for Economic Cooperation and Development does not anticipate a recession in the United States but called on the world's three main central banks, --US, European Union and Japan-- not to raise the cost of borrowing..
Trade and tariffs in Vazquez-Bachelet meeting
Uruguayan president Tabare Vazquez travels to Chile next April 9/10 to hold meetings with his counterpart Michelle Bachelet and to advance negotiations for a lower tariffs system between Mercosur and Chile, announced Tuesday Reinaldo Gargano, Uruguay's Foreign Affairs minister.
Executive/Congress confrontation escalates in Ecuador
A group of congressmen ousted by Ecuador's top electoral court for trying to block President Rafael Correa's plans for a national referendum forced their way into Congress and took up their seats as rival police forces answering to the executive and legislative branches scuffled with each other.
US 2006 current account deficit reached 6.5% of GDP
United States current account deficit in the fourth quarter of 2006 fell to its smallest in more than a year helped by lower oil prices and a steady rise in U.S. exports, according to a Commerce Department report released Wednesday.
Shanghai Exchange favors greater fluctuation margins
The Shanghai Stock Exchange (SSE) has proposed raising the maximum share price fluctuation for listed companies from 10 to 20% per day. The move is part of a package of proposals for changing trading mechanisms based on a study jointly conducted by SSE and Guotai Junan Securities Co. Ltd reports China's Xinhua agency.
Argentina/Uruguay pulp mills talks at the “end of April”
Uruguay and Argentina are set to resume talks over the pulp mills controversy towards “the end of April” in Spain and with King Juan Carlos at the table, according to Argentine diplomatic sources, reports the Buenos Aires press.
Mortgage applications in the US on the rise, reports MBA
United States mortgage applications rose last week with both new purchases and re-financings driven up by the lowest long-term home loan rates since early December, according to a report from the Mortgage Bankers Association.
Wall Street bounces back but volatility remains in markets
Wall Street shares rebounded Wednesday after a stocks sell-off in Europe prompted by continued concerns about the US economy and mortgage industry. Asian markets were also volatile reflecting similar sensitivity.
