Risk rating agency Moody’s cut on Monday Ireland's credit rating, warning the country faces a slow climb out of recession as the cost of a rescue of its banking sector mounts.
The Latin American economy could grow by as much as 5% this year, more strongly than previously expected (4%), driven by Brazil's vigorous expansion, according to a senior International Monetary Fund official.
The IMF and EU suspended a review of Hungary's funding program, set up in 2008 to save the country from financial meltdown, saying it must take tough action to meet targets for cutting its budget deficit.
Chinese Premier, Wen Jiabao, has said that China will continue to invest in European markets, despite the debt problems affecting many Euro zone countries. He was speaking in Beijing alongside the German Chancellor, Angela Merkel. She described his pledge as an important signal that China has confidence in the Euro.
The nightmare of BSE (Bovine Spongiform Encephalitis – or Mad Cow Disease) is mercifully almost forgotten in the EU now. In total almost 200,000 cases of BSE were discovered in the EU. But there were only 67 cases last year and those were in very old animals probably infected many years ago.
Brazilian Foreign Trade Secretary Welber Barral flies Monday to Dominican Republic to promote bilateral and advance towards a road map for an agreement with Mercosur.
Global production of rough rice, the staple for half the world’s population, may be 6 million tons less than estimated earlier this year after prolonged dry weather in the Mekong River region hurt crops, according to the United Nations Food and Agriculture Organization.
United States President Barack Obama received a sobering message from billionaire Warren Buffett when he asked for the investment guru's views about the economic recovery, according to an interview Obama gave NBC News on Thursday.
Argentina proposed the gradual elimination of the Mercosur Common External Tariff, AEC, double charge and hopes the initiative will receive a first approval before Buenos Aires has to turn over the rotating chair of the trade group to Brazil next August.
Toyota Motor Corp. and Nissan Motor Co. will invest a combined 1.2 billion US dollars to expand production in Latin America amid growing regional and export demand.