Uruguay's economy expanded 10.6% last year compared to 2007, said the government in an official state of the country address to Congress. The report also underlines that with the triggering of last year's international crisis, ”the neo-liberal (economic) paradigm collapsed”.
Virginia have served Texan billionaire Sir Allen Stanford with civil legal papers from the US financial watchdog, the SEC.
Brazil's JBS, the world's largest beef producer and owner of JBS-Swift, said on Friday it had abandoned its attempt to takeover of US meat company National Beef Packing Company LLC.
The European Commission has taken disciplinary steps to tackle swelling budget deficits in six EU countries.
The global financial crisis could provide entrepreneurial opportunities for budding information and communication technology (ICT) businesses, which in turn can power economic recovery, according to a new United Nations report.
Peru and Venezuela have become the latest countries to intervene in local banks controlled by the Stanford group as it faces fraud accusations. Peru's securities regulator suspended local operations of the Stanford Financial Group for 30 days.
MSCI Barra a leading stock market index provider has decided to remove Argentina from its emerging market index and place it in its frontier markets index. The frontier markets index contains stocks from countries considered not sufficiently developed to be eligible for MSCI Barra's emerging markets index.
The International Monetary Fund (IMF) has warned that global recovery efforts are being undermined by the presence of toxic assets on banks' balance sheets. IMF managing director Dominique Strauss-Kahn said in an interview to French radio France-Inter that this undercuts stimulus efforts by various governments.
A smaller-than-expected drop in inflation has failed to ease fears that the UK could soon be in the grip of deflation. The UK Office for National Statistics (ONS) data revealed a fall in the Consumer Prices Index (CPI) to 3% in January from 3.1% in December, which was far lower than experts had predicted.
Chinese Vice-president Xi Jinping currently in Venezuela, the fourth leg of a regional tour hailed the vigorous growth in relations between China and Latin America in recent years and described the pace of cooperation as unprecedented, according to reports from Beijing news agencies.