Stories for May 2009

Wednesday, May 20th 2009 - 14:37 UTC
Worst of global crisis over, but early recovery unlikely, says Krugman

Nobel Prize laureate Paul Krugman said Tuesday in Korea the worst phase of the global economic crisis is over but massive lingering debts make any early recovery unlikely.
“I share the optimism that the worst is maybe over” said Krugman in a speech to an international finance forum in Seoul.
Wednesday, May 20th 2009 - 14:21 UTC
Hundred of Argentines pay tribute to an honest taxi driver

Hundreds of Argentines have donated the equivalent of 32.000 US dollar to a taxi driver who found a bag with 32.500 US dollars in cash in his vehicle and returned it to its owners.
Wednesday, May 20th 2009 - 12:11 UTC
Argentine farmers look for profitable alternative crops

Argentine farmers are finding other crops which enable them to avoid the hyper sensitive wheat which has been one of the main clash areas with the administration of President Cristina Fernandez de Kirchner.
Wednesday, May 20th 2009 - 08:01 UTC
Punta del Este square meter prices remain steady

The value of the square metre in Uruguay’s most fashionable resort Punta del Este remains steady and experienced a slight increase in the last year according to an April report from ReporteInmobiliario.com, one of Buenos Aires leading real estate analysts.
Wednesday, May 20th 2009 - 07:32 UTC
European cruise industry cautiously optimistic

The cruise industry in Europe will grow in 2009, but at a slower pace than in the past three years due to the economic crisis, the European Cruise Council (ECC) predicts, reports Travel Weekly.co.uk.
Wednesday, May 20th 2009 - 03:25 UTC
OCDE estimates world trade likely to shrink 13% in 2009

The organization for Cooperation and Development in Europe, OCDE, estimates that world trade is likely to shrink by as much as 13% in 2009 from 2008 level and urged governments to avoid protectionist measures and keep markets open in order to allow economies to benefit from the recovery when it comes.
Wednesday, May 20th 2009 - 03:21 UTC
Influenza vaccine manufacturers committed to supply poor countries

World Health Organization (WHO) Director-General Dr Margaret Chan and United Nations Secretary-General Ban Ki-moon met on Tuesday with over 30 vaccine manufacturers from developing and developed countries at WHO headquarters in Geneva.
Wednesday, May 20th 2009 - 03:18 UTC
Brazil/China consolidate energy, trade and finance partnership

Brazil and China signed Tuesday in Beijing thirteen accords to promote trade, investments and cooperation plus a 10 billion US dollars loan for Petrobras. It was also agreed that bilateral trade in the near future is to be done using the Real and the Yuan.
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.
Wednesday, May 20th 2009 - 02:38 UTC
Brasil Foods to become world’s top exporter of processed meat and chicken

Two of Brazil’s biggest food companies announced on Tuesday plans to merge, creating an exporting powerhouse in a stock swap deal prompted by the global financial crisis. Executives from Perdigao SA and Sadia SA said they expect their new enterprise, to be called Brasil Foods SA, to become the world's top exporter of processed meat and chicken.