Economy

Tuesday, October 20th 2009 - 08:03 UTC
Lula da Silva promises a million new formal jobs in 2009

President Lula da Silva said Brazil would end this year with a million new formal jobs and in 2010 the economy will expand 5%. Speaking at his program “Breakfast with the President”, Lula da Silva announced that 252.000 jobs had been created in September which means 2009 will end “with a million new formal jobs”.
Tuesday, October 20th 2009 - 07:54 UTC
Brazil to slap tax on foreign capital inflow “to avoid speculation”

Brazil will impose a 2% tax on purchases by foreign investors of Real-denominated, fixed-income securities and on purchases of stocks. The measures are being taken “to avoid an excess speculation in the stock market and in capital markets” said Finance minister Guido Mantega told reporters Monday in Sao Paulo.
Tuesday, October 20th 2009 - 07:35 UTC
Chinese economy performing better than expected

The Chinese economy grew above 7% in the first nine months of the year and is poised to surpass the 8% expansion target for this year, according to a top official from the financial sector speaking in Beijing.
Saturday, October 17th 2009 - 10:29 UTC
US federal deficit hits all time high record of 1.42 trillion US dollars, 10% of GDP

The United States federal deficit is at an all-time high, 1.42 trillion US dollars for fiscal year 2009, which ended September 30. However it was lower than forecasted In August, 1.58 trillion and much less than in May 1.84 trillion US dollars.
Saturday, October 17th 2009 - 10:27 UTC
US criticizes China’s Yuan “rigidity” and reserves accumulation

The US Treasury has criticised China for what it described as the lack of flexibility of the Chinese currency, the Yuan. It also criticised the rapid build-up of China's foreign exchange reserves in a report to the US Congress.
Saturday, October 17th 2009 - 10:26 UTC
UK Revenue looking into tax affaire of 27 Members of Parliament

The tax affairs of 27 British Members of Parliament are being investigated following inspections of their taxpayer-funded expenses payouts, it has emerged. It follows a warning from the head of HM Revenue and Customs Dave Hartnett in July that politicians would be placed under increased scrutiny in the wake of the exposure of their claims.
Saturday, October 17th 2009 - 05:29 UTC
Geithner committed to keep the US dollar as a reserve currency

United States Treasury Secretary Timothy Geithner said the dollar's role as a reserve currency carries special responsibilities, including the need to control inflation and get the nation's finances in order. In an interview on CNBC television, Geithner was asked about the dollar's recent decline and what the Treasury was doing to guard its value.
Friday, October 16th 2009 - 06:35 UTC
Chileans are all work and no play; best lifestyle Australia

Chileans are all work and no play, according a new study that suggests outsiders view the country as a good place for business but not for letting their hair down.
Friday, October 16th 2009 - 05:25 UTC
Argentine wheat crop, and export surplus, lowest of 32 harvests

With the lowest wheat area in 111 years, Argentina expects a 2009/10 crop of 7.5 million tons, the worst in the last 32 seasons, which means exports, --and tax revenue--, will be ten times less than the 2007/08 crop according to the Argentine Rural Society Economics Department.
Thursday, October 15th 2009 - 23:47 UTC
The vexing puzzle of Argentina, according to the Financial Times

An editorial comment from the Financial Times October 14th edition, “In a tango of debt” gives a good idea of what world markets think and feel about Argentina.