Stories for October 2008

Thursday, October 30th 2008 - 20:00 UTC
Argentine bank stabilizes Peso but uncertainty prevails

Argentina's peso closed Thursday trading at 3.39 to the US dollar, similar to Wednesday when the Central bank intervened with a billion US dollars in support of the local currency to stem a two-week slide sparked by concern the country will default.
Thursday, October 30th 2008 - 20:00 UTC
Favourable 2009 beef export prospects for Brazil and Argentina

Beef exports are forecast to rise nearly 2% during 2009 as gains by Brazil, Argentina and the United States outweigh downturns in Australian and New Zealand shipments according to the US Cattle network
Thursday, October 30th 2008 - 20:00 UTC
Chile's stock market looses 9.57% in Oct.; Peso down 26% in 08

Chile's stock market climbed 1.93% on Thursday but finished the turbulent October 9.57% down. As with most global markets Chile's bounced back following on a better performance in Wall Street and the Sao Paulo Bovespa index.
Thursday, October 30th 2008 - 20:00 UTC
Absences and late arrivers mark summit in El Salvador

The current global economic and financial crisis overshadowed the official agenda of the 18th Ibero American two-day summit in El Salvador which ends on Friday.
Thursday, October 30th 2008 - 20:00 UTC
Brazil' Petrobras agrees to explore for oil offshore Cuba

Brazil is scheduled to sign on Friday an agreement with Cuba for deep-water oil and gas exploration and production. The event is considered the highlight of the two day visit of President Lula da Silva to the island beginning late Thursday.
Thursday, October 30th 2008 - 20:00 UTC
EU business and consumer confidence falls to 15-year low

Business and consumer confidence in the 15 nations of the Euro zone fell to a 15-year low in October, the European Commission said Thursday, as a credit crunch hits consumer spending and forces companies to shed jobs.
Wednesday, October 29th 2008 - 20:00 UTC
Mexico approves opening oil industry to private sector

In a turbulent session, the Mexican Congress Tuesday approved seven bills reforming the state oil company Petroleos Mexicanos (Pemex), which holds a monopoly on the industry, to allow participation by private international firms.
Wednesday, October 29th 2008 - 20:00 UTC
Latam markets follow on W. Street and Fed's expected cut

Major Latinamerican markets recovered strongly Tuesday as investors in the region and on Wall Street set aside worries about global recession to take part in a buying spree convinced that the Fed would announce further interest rate cuts on Wednesday.
Wednesday, October 29th 2008 - 20:00 UTC
Regional meeting of UN agencies in Latin America

Environmental cooperation, the impact of the global financial crisis on United Nations efforts to slash poverty and the role of women in tackling climate change will be on the agenda when Deputy Secretary-General Asha-Rose Migiro heads to Seoul for an official visit to the Republic of Korea (ROK).
Wednesday, October 29th 2008 - 20:00 UTC
Fed cuts rate to 1%; deflation could become major threat

The United States Federal Reserve cut on Wednesday the key interest rate from 1.5% to 1% in a widely expected move with the purpose of promoting “a return to moderate economic growth”.