Six major United States banks are taking part in an initiative to help homeowners struggling to pay their mortgages. Bank of America, Citigroup, Countrywide Financial, JP Morgan Chase, Washington Mutual and Wells Fargo are those taking part in Project Lifeline.
Farmers in Paraguay, the world's fourth-largest soybean exporter, improved their chances of a record harvest after abundant rainfall aided crops in the first half of the growing season, said the Paraguayan Chamber of Cereals and Oilseeds Exporters, CAPECO.
Venezuela and Argentina agreed Tuesday to exchange food for energy thus helping to overcome both countries' weak points following a high level meeting in Caracas. Argentina is to supply 1.000 tons of beef monthly and Venezuela will provide all the crude needed to ensure Argentina's human and industrial development.
The International Monetary Fund Director General Dominique Strauss-Kahn warned that emerging economies are not immune to a slowdown resulting from the financial crisis in United States and thus must prepare to cope with the negative effects.
Brazil's monthly inflation slowed in January for the first time in four months as food prices eased. Consumer prices, IPCA index, rose 0.54% in January, down from a 0.74% jump in December, reported Wednesday the Brazilian Geography and Statistics Institute, IBGE.
President George Bush said the fundamentals of the U.S. economy are strong, but admitted the country is going through a period of economic uncertainty. However Bush underlined that the 152 billion US dollars stimulus package he will sign into law Wednesday will provide a much needed boost.
Of every ten pesos of tax revenue collected by the Argentine Treasury, 4.4 pesos originate in the country's agro-business. Fiscal pressure on Argentina's primary production, (cereals, oil seed, meats) plus the industrialization process is in the range of 32%, ten points higher than for the rest of the economy, reports Buenos Aires daily La Nacion.
Fears of a global slowdown triggered by US housing market problems wiped 5.2 trillion US dollars off global stock markets in January, analysts estimate. According to ratings firm Standard and Poor's, 50 out of 52 share indexes around the world ended the month lower. (5.2 trillion is equivalent to two GDP of France).
A second high speed train for Argentina was announced last week by President Cristiana Fernandez de Kirchner. Three consortia submitted bids to build the Buenos Aires to Mar del Plata high-speed link.
TEN years on from opening their office in Stanley, Falkland Islands, Chartered Accountants Wilkins Kennedy are looking to expand their services.