Argentina announced Friday custom duties and tariffs to restrict imports of certain goods that are having a negative impact on its industry. Sectors benefited include tires, bicycles, foot wear, auto parts, leather goods, toys and textiles.
The European Central Bank will do its job to preserve price stability, ECB governing council member and president of Germany's Bundesbank Axel Weber reiterated Friday.
The European Commission is planning to review the credit rating industry after suggestions the sector was too slow to warn on the US sub-prime loans crisis, according to The Financial Times.
The Argentine economy expanded 8.4% during the first half of 2007 compared to a year ago reported Friday the country's Statistics and Census Office, Indec. President Nestor Kirchner also announced that unemployment in the second quarter of 2007 dropped to 8.5% of active population.
World markets on Friday reacted firmly back to positive following the Federal Reserve announcement that it would cut the rate at which it lends banks to inject more liquidity into the financial system
A week after share prices around the world first began to fall markets in Asia on Thursday were still on the way down following on the volatility that has gripped United States and European markets.
Chilean gas company Metrogas has succeeded in securing additional natural gas from Argentina to supply its needs for Santiago. The new agreement, dubbed the Uruguayan Formula, involves importing gas which was originally meant for Uruguay to Chile.
United States Treasury Secretary Henry Paulson said the current turmoil in financial markets will slow economic growth but should not spark a recession, according to a report published Thursday in The Wall Street Journal.
Global markets plunged again on Thursday with London's main FTSE 100 index seeing its sharpest fall in four-and-a-half years, but in New York Wall Street shares staged a dramatic recovery after suffering heavy losses earlier in the day.
United States shares have fallen again with problems in the mortgage sector continuing to have an adverse effect on market sentiment but also on warnings from two big retailers Wal-Mart and Home Depot.