Economy

Economy
Monday, September 13th 2010 - 04:03 UTC

Argentina closer to becoming Brazil’s second trade partner

Bilateral trade is expected to reach 34 billion USD

Argentine trade with Brazil in 2010 is going to increase significantly and could replace United States as the second most important importer of Brazilian goods, said Foreign Affairs minister Celso Amorim.

Monday, September 13th 2010 - 04:00 UTC

Central bankers agree new rules to prevent a repeat of the financial crisis

European Central Bank chief Jean-Claude Trichet

Central bank governors and senior regulators have agreed new rules designed to prevent a repeat of the recent financial crisis. At a meeting in the Swiss city of Basle, they agreed a deal requiring banks to hold more capital in reserve.

Sunday, September 12th 2010 - 07:29 UTC

A view from The Economist: ‘US and Latin America, nobody’s backyard’

Tens of millions of Latinamericans have climbed out of poverty

Under the heading of “The United States and Latin America: Nobody’s backyard”, The Economist publishes one of its leading articles, supported by special pieces dedicated to the region’s potentialities, recent successes and shortcomings, mainly triumphalism and complacency.

Sunday, September 12th 2010 - 07:12 UTC

Two million people have visited Chile’s pavilion at the Shanghai Expo

The Chilean pavilion at the Shanghai Expo

Lu Hongxiang from Xin Xiang, China was recently the 2 millionth visitor at the Chilean pavilion at the Shanghai Expo that runs from May 1 to Oct 31, 2010.

Sunday, September 12th 2010 - 06:45 UTC

China trade surplus down; US congress set to discuss value of the Yuan

Treasury Secretary Tim Geithner is to testify at a key House hearing next week

China's trade surplus narrowed in August as imports picked up at a faster pace and exports slowed although not drastically, official figures showed on Friday. The data is likely to keep up pressure on Beijing to ease currency controls.

Sunday, September 12th 2010 - 06:41 UTC

Public debate erupts in UK over the building of two (one?) air carriers

Budget cuts are a threat for defence contractors

British Ministry of Defence revealed that contracts worth about £1.25bn have been awarded for building two aircraft carriers even though the project may not go ahead, figures have revealed. The figures came in answer to a parliamentary question by a Labour MP.

Saturday, September 11th 2010 - 18:22 UTC

Developed nations slowdown “more pronounced than anticipated” says OECD

Trouble ahead for the weakened administration of President Obama

The global economic recovery is slowing faster than forecast, but a return to recession is unlikely, a leading global economic group has said. The Organisation for Economic Co-operation and Development (OECD) said the slowdown had been more “pronounced than anticipated”.

Friday, September 10th 2010 - 04:39 UTC

Brazil’s Real at its highest in eight months; government promises a cap

“Flood” of dollars forecasted with the planned share sale by Petrobras

Brazilian Finance Minister Guido Mantega said the government won’t allow the Real to strengthen excessively as the currency reached its strongest in eight months.

Friday, September 10th 2010 - 04:31 UTC

Kirchner cabinet refutes FT report: no IMF revision of Argentine economy

Economy Minister Amado Boudou

Argentina is still opposed to having its economy reviewed by the International Monetary Fund (IMF), government ministers said on Thursday, refuting recent media reports to the contrary.

Friday, September 10th 2010 - 03:45 UTC

Bank of England leaves interest rates on hold at 0.5% for 18th month running

However Andrew Sentance has voted for a rate rise for the third month in a row.

The Bank of England has kept UK interest rates on hold at a record low of 0.5% for the 18th consecutive month. The Monetary Policy Committee's (MPC) decision had been expected, but calls have been growing for an increase in rates to curb inflation.

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