Argentina is forecasted to expand 5.5% in 2008, the strongest in the region behind Venezuela and Peru according to prospects from the World Bank and the International Monetary Fund released Wednesday.
The United States House of Representatives approved Wednesday a new four-year ban on state or local taxation of Internet over the objections of both Republicans and Democrats seeking a permanent ban. The current three-year ban on access taxes expires on November first.
The European Union trade relationship with China is deeply unequal said EU Trade Commissioner Peter Mandelson stressing that the EU sells more goods to Switzerland than to China.
Three of United States largest banks have announced a plan to buy up billions of dollars of troubled investments that lost value in the global credit crunch. The unusual move aims to boost confidence in the market for short-term and sub-prime debt, preventing a further sell-off of such investments.
United States said Monday it was very disappointed with a ruling by the World Trade Organisation ruling that its subsidies to cotton farmers breached global trade rules. The finding confirms a preliminary ruling in July in favor of Brazil, which initially brought the complaint in 2005, and paves the way for sanctions.
The construction of luxury offices in the capital of Chile, Santiago has risen to its highest level in seven years, according to a study by the consultant group Mackenzie Hill.
Euro zone annual inflation was 2.1% last September, (up from August 1.7%) and above the European Central Bank's target for the first time in twelve months according to the latest release from Eurostat.
Latinamerica and the Caribbean are forecasted to grow between 4.9 and 5% this year according to the World Bank's chief economist for the region Augusto de la Torre.
United States President George Bush on Saturday urged Congress to pass trade pacts with Peru, Colombia and Panama, and promised to strengthen job re-training programs and other measures to help workers displaced as a result of trade-related job losses.
The gap between United States richest and poorest is at its widest in 25 years with the wealthiest taking home a record share of the nation's income that exceeds even the previous high in 2000, according to recent data from the Internal Revenue Service, IRS.