The Chinese government trebled the stamp duty on the trading of shares in what analysts say is a bid to cool the country's overheated stock market. The tax will rise from 0.1% to 0.3% with immediate effect, Beijing said.
The Organization for Economic Development (OECD) says that world growth is being led by Europe and Japan, which is compensating for a United States slowdown. Actually economic growth in Europe and Japan this year has overtaken the US
Further liberalization of aviation and financial services and greater collaboration on clean energy technologies are among tangible results of high-level bilateral talks between the United States and China, according to U.S. officials. But no tangible results were arrived on the controversial currency reform issue.
Former U.S. Federal Reserve Chairman Alan Greenspan said on Wednesday he feared a dramatic contraction in Chinese stocks but said the global economy may be able to shrug off a drop in asset prices. U.S. and Japanese stock markets slipped following his remarks.
United States Treasury Secretary Henry Paulson urged China to address persistent trade and financial imbalances as bilateral high-level discussions kicked off in Washington.
Paraguayan President Nicanor Duarte and Mercosur ministers of Economy and Foreign Affairs decided Tuesday the creation of the Bank of the South, --an idea promoted by VenezuelaÃÂ¢€”that should act as an alternative for world multilateral organizations such as the World Bank, IMF and the Inter American Development Bank.
Argentina's international reserves reached this week a record 40 billion US dollars according to the latest release from the Central Bank underlining that the strong position effectively helps to reduce financial vulnerability, grants certitude to investors and reduces the country risk.
Argentina will drop from fourth to seventh place among world beef exporters this year, after having climbed in 2005 to the third position according to the latest information from the country's Ministry of Agriculture, Livestock, Fisheries and Food.
In three years time Chile could triple its beef production from the current 247.000 annual tons to 750.000 tons according to the country's Cattle and Sheep Genetics improvement Council which depends from the Ministry of Agriculture.
The People's Bank of China widened on Friday the fluctuation band of the Yuan, raised interest rates and curbed bank loans to tame a runaway economy and ease trade tensions with United States and Europe.