Economy

Monday, September 7th 2009 - 14:28 UTC
UK prepares for budget deficit and spending debate

United Kingdom Chancellor Alistair Darling is set to unveil plans within the next few months to halve the Government's spending deficit over four years, his deputy at the Treasury said.
Monday, September 7th 2009 - 14:12 UTC
Cuban government joins the internet sales-auction-exchange business

Cuba’s Housing Institute has created as specific site in the web to facilitate the search and paper-work for people interested in the interchange of homes, reported the broadcasting station Reloj. The sale and purchase of real estate in Cuba is illegal.
Monday, September 7th 2009 - 14:08 UTC
China’s top 500 corporations outperformed the US top 500, says Beijing

Profits of the top 500 Chinese corporations in 2008 exceeded that of their United States counterparts. Gains for the full year in 2008 totalled 1.21 trillion Yuan (177.17 billion US dollars), much more than the 98.9 billion USD from the top 500 US firms in the same period.
Sunday, September 6th 2009 - 18:33 UTC
G20 vow to keep spending high

The Group of 20 finance ministers have pledged to maintain stimulus measures such as extra government spending and low interest rates to boost the global economy.
Saturday, September 5th 2009 - 13:17 UTC
Argentine farmers end eight day boycott promising to “keep fighting”

Argentine farmers marked on Friday the end of an eight-day sales boycott with rallies and marches promising to “keep fighting” in support of aid for peers suffering from the worst drought in decades and to eliminate the current export tariffs system which distorts production and threatens several crops.
Saturday, September 5th 2009 - 13:06 UTC
Leading economist Roubini warns of “U shaped” or “W shaped” recovery

Leading economist Nouriel Roubini who predicted the global financial crisis said Friday in Italy that he expects a slow recovery for advanced economies, but emerging economies may experience a quicker more robust growth.
Saturday, September 5th 2009 - 06:28 UTC
US unemployment at record 9.7%, but some signs job cuts are easing

United States job cuts in August reached 216,000 pushing the unemployment rate up to 9.7%, the highest since 1983, according to the Bureau of Labour Statistics. Since the start of the recession in December 2007, the US economy has shed 6.9 million jobs, the department said.
Saturday, September 5th 2009 - 06:09 UTC
Bank of England expands quantitative easing by £ 50 billion to £ 175 billion

The Bank of England on Friday held interest rates at 0.5% as expected, but expanded its quantitative easing program by £50 billion to £175 billion. In a letter to the chancellor Alistair Darling, Bank of England governor Mervyn King said the move was essential to meet the central bank’s long term inflation target of 2% or 1% either side.
Friday, September 4th 2009 - 12:57 UTC
Recovery on sight, but bumpy road ahead, warns ECB chief

The European Central Bank declared Thursday that the economic contraction in Europe is coming to an end and kept interest rates on hold at 1%. However, the ECB's president, Jean-Claude Trichet, warned the recovery will be bumpy, especially in the face of high unemployment in Europe which is now 9.5%.
Friday, September 4th 2009 - 09:09 UTC
In spite of August surge, Uruguay expects 2009 inflation to be below 7%

Uruguay’s retail inflation jumped an unexpected 1.23% in August, the highest in the last 14 months, totalling 5.11% in eight months and 7.28% in the last twelve months. If the tendency is confirmed during the last four months of 2009, the consumer prices index would be above the Central Bank’s upper target of 7%.