Economy

Economy
Wednesday, May 20th 2009 - 02:42 UTC

UK annual consumer inflation down to 2.3% in April

The British annual consumer prices inflation was 2.3% in the year to April, down from 2.9% in the year to March, falling closer to the 2% target set by the government which most commentators had been expecting as utility bills were cut to reflect falling oil prices.

Tuesday, May 19th 2009 - 14:42 UTC

IMF anticipates Latinamerica will recover before developed countries

Although Latinamerica is well prepared to confront the international economic crisis, the economies of the region will suffer on average a contraction of 1.5% this year, said the International Monetary Fund main advisor for the hemisphere Miguela Sabastano.

Tuesday, May 19th 2009 - 14:02 UTC

British economist blames financial sector for current optimistic forecasts

Behind the idea that the current economic crisis will be over by 2010 are the interests of the financial sector that are trying their most to avoid a greater regulation of markets claims British Professor Robert Wade.

Tuesday, May 19th 2009 - 13:57 UTC

Trade and oil cooperation, high in the Lula da Silva agenda in China

Pte. Lula da Silva and his counterpart Hu Jintao

Brazilian president Lula da Silva arrived Monday in Beijing with a delegation of 240 businessmen for a three-day visit aimed at strengthening the country’s strategic partnership with China.

Sunday, May 17th 2009 - 13:12 UTC

Private sector economists say Argentina is in recession

Argentina's industrial production in April plunged 9.1% on the year, economic think tank Orlando J Ferreres & Asociados reported this week. The April drop follows a 9% decline during the first quarter of 2009 and a 5.6% drop during the fourth quarter of 2008, according to the report.

Saturday, May 16th 2009 - 13:26 UTC

US consumer prices in April remained unchanged

US consumer prices were unchanged in April, but recorded their largest year-on-year drop for more than 50 years, official data showed. Meanwhile producer prices jumped more than expected pushed by the biggest rise in food costs in more than a year.

Saturday, May 16th 2009 - 13:19 UTC

Chilean Patagonia provides few bright spots of economic activity

Puerto Montt port

The southern tip of the Chilean Patagonia provided most of the few bright spots in the Chilean government’s latest Index of Regional Economic Activity (INACER), published this week by the National Statistical Institute.

Saturday, May 16th 2009 - 13:15 UTC

Euro zone first quarter contraction of 2.5% surprises economists

The economies of the 16 countries of the Euro zone experienced its worst quarterly drop in GDP in the first three months of the year, shedding 2.5% according to a release from the EU statistics agency Eurostat.

Saturday, May 16th 2009 - 13:03 UTC

Lula da Silva promotes use of local currencies for trade

Ptes. Lula and Hu Jinatao discuss bilateral trade in Real and Yuan

China and Brazil should conduct business with each other in their own currencies instead of the dollar, a publication quoted Brazil's president Lula da Silva as saying ahead of his trip to Beijing next week.

Saturday, May 16th 2009 - 10:37 UTC

General Motors to close 1.100 dealerships

General Motors, the US auto giant, has told 1.100 dealerships that they will be closed down as the company struggles to survive amid an economic crisis. The shutdowns are just part of a larger plan to shut 2.600 of its 6.200 dealerships as the car manufacturer makes cuts in an attempt to become profitable again. The move is likely to cause the loss of thousands of jobs across the US.

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