Stories for 2008

Tuesday, November 4th 2008 - 20:00 UTC
World Bank official warns on soaring number of poor in 09

The world financial crisis influenced by the high prices of food and fuel will cause global growth to drop 1 to 2%, together “with the emergence of millions of poor, a new underclass”, according to a top official from the World Bank.
Tuesday, November 4th 2008 - 20:00 UTC
Fitch predicts steepest GDP decline in leading countries

In its latest Global Economic Outlook, Fitch Ratings predicts that the world's major advanced economies - US, UK, Euro Zone and Japan - will experience in 2009 the steepest decline in GDP since World War II. In aggregate GDP growth in these countries is expected to be (minus) -0.8% in 2009, compared to an estimated 1.1% for 2008. Tighter credit conditions, consumer retrenchment and falling corporate investment are expected to combine to deliver an unusually synchronised downturn across the advanced economies.
Tuesday, November 4th 2008 - 20:00 UTC
FT gives high marks to Latinamerica's banking system

Latinamerica's financial system has passed the Financial Times test. In an article under the headline of “Latinamerica sidesteps the worst of crisis”, FT correspondents in Sao Paulo and Mexico City elaborate on the region's banking industry and how “by accident and design” in spite of a long history of turbulence, it is weathering the global crisis.

Maybe because of the relatively small size of the system, but definitively because regulations and close monitoring have helped Latinamerican banks stay away “from all those toxic products” that damaged US banks.
Monday, November 3rd 2008 - 20:00 UTC
Castro's first overseas visit to Brazil, says Lula da Silva

Brazilian President Lula da Silva said that the first overseas visit of his Cuban counterpart Raul Castro since taking office will be to Brazil. The announcement was made during his brief visit to Havana where Brazil's Petrobras signed an agreement to explore and exploit oil and gas offshore Cuba.
Monday, November 3rd 2008 - 20:00 UTC
Chavez velvet warning to Nobel Peace Lech Walesa

Venezuelan opponents on Sunday accused President Hugo Chavez of trying to silence his critics after associates of former Polish president Lech Walesa said the Nobel Peace Prize laureate would not attend a pro-democracy forum in Venezuela.
Monday, November 3rd 2008 - 20:00 UTC
UN convoy of food and medicine for displaced Congolese

United Nations is to send a convoy of food and medical supplies to help the 250,000 people displaced by recent fighting in the Democratic Republic of Congo. It will be the first aid in a week for those stranded in areas controlled by renegade Gen Laurent Nkunda's forces.
Monday, November 3rd 2008 - 20:00 UTC
US's election, only comparable to recent results in Latam

Brazilian leader Lula da Silva said that if Barack Obama if finally elected as the next president of the United States, it would be “something extraordinary”, comparable to his won victory or that of Bolivia's Evo Morales, the first indigenous president, plus a “spark of joy” for the expectant world.
Monday, November 3rd 2008 - 20:00 UTC
Obama, McCain battle across campaign's closing day

Aiming for a last-minute upset, Republican John McCain embarked on a grueling odyssey through seven swing states Monday while Democrat Barack Obama was headed toward three longtime GOP bastions that have become Democratic-leaning battlegrounds in the historic presidential contest.
Monday, November 3rd 2008 - 20:00 UTC
Argentine top model accused of evading 2 million USD in taxes

Argentine international top model Valeria Mazza and husband Alejandro Gravier are under investigation by Argentina's Revenue Service, AFIP, for alleged tax evasion to the tune of two million US dollars, according to the Buenos Aires press.
Monday, November 3rd 2008 - 20:00 UTC
Global crisis creates Latam's biggest private bank

Brazilian bank shares soared on Monday after Banco Itau announced the purchase of Unibanco Holdings, a transaction that will create Latin America's biggest private banking firm. The stock transaction is valued in 12.5 billion USD.