Following on a robust 2007, the United Nations Conference On Trade and Development says there is a clear danger of the world economy coming to a near standstill in 2008. The report says this will hit many poor nations hard, slow world trade and put an end to the boom in commodity prices.
The International Monetary Fund said this week it had lowered its 2007 global growth estimate by one-half percentage point after recent data showed economies of China and India were smaller than previously thought.
China will introduce partial price freezes on basic commodities such as gas and oil and crack down on profiteering, hoarding and other activities fuelling inflation, the government announced on Wednesday. Government officials are concerned about prices next month when the Lunar New Year celebrations.
With the US dollar in free fall the Chilean Association of Exporters, ASOEX have called on the country's authorities so that once and for all they understand the situation that vast sectors of the Chilean economy are experiencing, particularly small and medium enterprises which represent a significant number of jobs.
The global economy is expected to slow to a modest 3.3% growth in 2008, but things could worsen if United States slips into recession, the World Bank said this week in a report on Global Economic Prospects 2008.
Federal Reserve chief Ben Bernanke has said that the outlook for the US economy in 2008 has worsened.
Tony Blair is to take a job with a major Wall Street bank which is likely to earn him around £500,000 a year. The former Prime Minister will work part-time providing political and strategic advice to JP Morgan in the first of a number of similar positions in the private sector.
Brazil's third-largest beef exporter, Marfrig Frigorificos e Comercio de Alimentos SA through its Argentine branch Breeders & Packers SA has acquired Argentina's Mirab SA for 36 million US dollars said the company in a statement.
Next January 17 Chilean Minister of Agriculture Alvaro Rojas will inaugurate an abattoir for sheep in Punta Arenas which has been specifically conditioned for Islamic markets. The slaughtering space looks towards Mecca the holiest of all Islamic cities which is an advantage to for selling to Arab countries.
Argentina released the latest data on the consumer prices index which according to the controversial Nacional Statistics and Census Office, Indec, was 0.9% in December totaling 8.5% for the whole twelve months.