Economy

Economy
Friday, July 17th 2009 - 05:37 UTC

Developed countries trade falls but at a more moderate rate

G7 imports fell 10.5% in the first quarter of 2009.

Trade in developed countries continued to fall in the first three months of this year but the rate of decline moderated, the OECD said this week.

Thursday, July 16th 2009 - 15:43 UTC

World Bank has 17 billion US dollars to loan out in Latinamerica

Pamela Cox said the bank has sufficient funding

The World Bank could lend up to 17 billion US dollars to Latinamerican countries in the fiscal year that began this month, the organization’s vice-president for Latinamerica said on Wednesday.

Thursday, July 16th 2009 - 15:24 UTC

GM Brazil to invest a billion US dollars in two new models for Mercosur

Contrary to the US GM in Brazil is a success story with annual sales of 550.000 units.

General Motors announced Wednesday it will invest a billion US dollars to develop two new car models in Brazil. GM Brazil and Mercosur operations president said it was the corporation’s biggest investment since the onset of the global financial crisis.

Thursday, July 16th 2009 - 15:18 UTC

China’s international reserves at a record 2.13 trillion US dollars

A massive influx of financial capital has been more significant for China than trade surpluses since the global crisis broke out.

China's foreign exchange reserves reached 2.13 trillion US dollars by the end of June 2009, up 17.84% year-on-year, according to the latest release from the People’s Bank of China, PBOC.

Thursday, July 16th 2009 - 07:15 UTC

Latam forecasted to contract 1.9% this year and expand 3.1% in 2010

Mercosur members Argentina, Uruguay and Brazil are well prepared to weather the crisis, says Cepal.

The Latinamerican and Caribbean economy is forecasted to contract 1.9% this year following six years of sustained growth, but is expected to expand 3.1% in 2010, according to the latest estimates released Wednesday by the United Nations Latinamerican and Caribbean Economic Commission, Cepal in Santiago de Chile.

Thursday, July 16th 2009 - 07:13 UTC

Record unemployment in UK: 2.38 million, the worst since 1995

Employment minister Jim Knight argued that the situation is worse in the US, France and Germany.

Unemployment in the United Kingdom has soared to “truly horrendous” levels after a record 281,000 people joined the growing jobless ranks, taking the total to 2.38 million, the worst since 1995.

Wednesday, July 15th 2009 - 11:36 UTC

Brazil confident of recovery and retaining primary surplus

Finance Minister Mantega said that the primary surplus will be achieved even if it means cutting spending towards the end of 2009.

Finance Minister Guido Mantega said Tuesday that Brazil is not facing fiscal troubles and anti-cyclic policies are showing satisfactory results. His statement was supported by the latest release on retail sales, for May, which was higher than expected.

Wednesday, July 15th 2009 - 11:26 UTC

Chilean sheep farming industry targets double lamb exports by 2010

Magallanes in the extreme south, is Chile’s main sheep farming territory.

The Chilean sheep farming industry is embarking on a million dollar master plan to boost the national sheep population and double lamb exports by 2010.

Wednesday, July 15th 2009 - 07:56 UTC

Argentine inflation cooling as economy slows down

“Official” June inflation was 0.4%, while private estimates put it at 0.6%

Argentina’s official consumer inflation in June was 0.4%, totalling 5.3% in the last twelve months and 2.7% in the first half of this year, according to the latest release from the controversial Statistics and Census Office, Indec.

Tuesday, July 14th 2009 - 10:19 UTC

WTO blasts protectionism and warns global crisis is far from over

Pascal Lamy praised G8 pledge to conclude Doha Round talks in 2010

Warning that the global economic crisis is far from over, World Trade Organization Director-General Pascal Lamy said Monday that protectionism is not the answer to tackling the turmoil.

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