Economy

• Monday, September 12th 2011 - 20:56 UTC

  OPEC forecasts slower global oil demand and production

  

  OPEC cut its forecast Monday for global oil demand and production, citing the slowing economic recovery. In its monthly report, the Organization of Petroleum Exporting Countries said it expected demand growth to drop to 1.1 million barrels per day -- 150,000 barrels per day fewer than its earlier forecasts.

• Monday, September 12th 2011 - 20:09 UTC

  Central bankers admit growth slowdown but no sign of world recession

  

  Economic growth is slowing but there is no sign of a worldwide recession, according to global central bankers who said they had no plans for concerted action.

• Monday, September 12th 2011 - 05:35 UTC

  Latest estimates indicate Brazil is heading for another record grains crop

  

  Brazil latest harvest (2010/2011) should reach 162.9 million tons of grains and oilseeds establishing a new record according to the latest release by the National Supplies Company, Conab.

• Monday, September 12th 2011 - 02:05 UTC

  G8 and Mid East pledge 38bn dollars for Arab spring transition to democracy

  

  Western and Middle Eastern governments pledged to help Egypt, Tunisia, Morocco and Jordan make the transition to democracy, mobilizing 38 billion dollars of financing, mostly through international lending organizations.

• Monday, September 12th 2011 - 02:01 UTC

  German ‘pragmatic’ top official for ECB board to help tackle Euro crisis

  

  Germany has proposed Deputy Finance minister Joerg Asmussen to replace Juergen Stark on the European Central Bank's executive board, Finance Minister Wolfgang Schaeuble said.

• Monday, September 12th 2011 - 01:49 UTC

  NZ meat industry puts up its best show for Rugby World Cup fans

  

  New Zealand's biggest meat company expects the horde of carnivorous rugby fans to consume an extra 70,000 of sheep, cattle and deer during the Rugby World Cup that took off last Friday.

• Monday, September 12th 2011 - 01:46 UTC

  On request from government Repsol-YPF ratified investment plans in Argentina

  

  Argentina’s government will monitor ownership changes at Spain’s Repsol and it reserves the right to wield its golden share in YPF, the Spanish concern’s local unit, YPF, said in a statement after a board meeting that included a state-appointed director.

• Saturday, September 10th 2011 - 06:34 UTC

  Latin American shares sink on Friday following global equity plunge

  

  Latin American shares sank on Friday as global equity markets plunged on fears a Greek default could hobble major European banks and deepen a global economic slowdown.

• Saturday, September 10th 2011 - 06:29 UTC

  Uruguay offered cheaper power from private wind-farm developers

  

  Uruguay could enjoy 1.3 billion dollars of wind farms in the next four years after developers said they could provide electricity cheaper than conventional energy sources.

• Saturday, September 10th 2011 - 06:22 UTC

  IMF chief calls on economic leaders to act with “conviction and urgency”

  

  Policymakers in advanced economies should use all available tools to boost growth, International Monetary Fund Managing Director Christine Lagarde said on Friday, calling for bold action to weather a “dangerous new phase” of recovery.