Stories for October 2008

Wednesday, October 22nd 2008 - 20:00 UTC
Private pension funds nationalization shocks Argentina

Argentine President Cristina Fernandez proposed Tuesday a government takeover of nearly 30 billion US dollars in private pension funds, saying pensioners must be protected from the global financial crisis.
Wednesday, October 22nd 2008 - 20:00 UTC
Bush invites G20 for crisis summit on November 15

Unites States President Bush invited leaders of the Group of 20 participants to a summit in Washington on November 15 on the global economic crisis announced the White House on Wednesday.
Wednesday, October 22nd 2008 - 20:00 UTC
Brazil Real down 33% in spite of billions USD in support

Brazil was forced to appeal to 22.9 billion US dollars in the past month, including sales of foreign reserves, derivatives and loans to prop the weakened Real punished by investors fleeing from emerging markets to more secure assets.
Wednesday, October 22nd 2008 - 20:00 UTC
UN preparing map of underground fresh water resources

The United Nations Educational, Scientific and Cultural Organization UNESCO will publish the first-ever world map of underground aquifers, which account for some 96 per cent of global freshwater resources, the agency announced in a press release today.
Wednesday, October 22nd 2008 - 20:00 UTC
Argentina estimates off mile 210 squid catches in 253.000 tons

Squid catches of jiggers and trawlers operating next to the Argentine Exclusive Economic Zone (EEZ) limit totalled some 253,000 tonnes of squid (Illex argentinus) between February and June, according to the latest estimate released by the National Institute for Fisheries Research and Development (INIDEP).
Tuesday, October 21st 2008 - 20:00 UTC
Financial meltdown could increase jobless by 20 million

The global financial crisis could increase world unemployment by an estimated 20 million women and men, the Director-General of the International Labour Office (ILO) said on Monday.
Tuesday, October 21st 2008 - 20:00 UTC
Brazilian company en route to be US main meat processor

The United States Justice Department said on Monday it will allow Brazil's JBS to buy the beef operations of Smithfield Foods Inc for 565 million US dollars which, based on industry estimates, would make JBS the second US beef producer.
Tuesday, October 21st 2008 - 20:00 UTC
Recession and job cuts hit China's toy industry province

The global economic slowdown is starting to impact on China, the world's biggest industrial production centre. As many as half of all toy manufacturers in the Pearl River Delta could go out of business within the next two years an industry expert said on Monday following the closure of the Smart Union toy factory.
Tuesday, October 21st 2008 - 20:00 UTC
Fed support for new stimulus package boosts markets

United States Federal Reserve chief Ben Bernanke said on Monday more government spending may be needed to combat economic weakness. A fresh round of stimulus would be a good idea, he told the US House of Representatives budget committee.
Tuesday, October 21st 2008 - 20:00 UTC
Obama pledge to halt eviction of defaulting homeowners

Unite States Democrat presidential candidate Barack Obama has vowed to halt eviction of homeowners defaulting on mortgages, two weeks before the election. He was speaking in Florida, ahead of a joint appearance with his former rival for the nomination, Hillary Clinton.