Economy

Friday, February 13th 2009 - 20:00 UTC
Euro zone industrial production plunges 12% in December

European industrial production dropped the most on record in December, pointing to a deepening economic slump in the fourth quarter. Output in the Euro region fell 12% from the year- earlier month after an 8.4% decline in November, the European Union's statistics office in Luxembourg said on Thursday
Friday, February 13th 2009 - 20:00 UTC
Chile cuts benchmark lending rate 2.5 percentage points

Chile's central bank cut its benchmark lending rate by a steep 2.5 points to 4.25%, citing declining inflation and slow economic growth. The rate cut is larger than the 1 to 1.5 points expected by the market.
Thursday, February 12th 2009 - 20:00 UTC
Brazil promotes construction: plans 1 m houses by 2010

Brazilian president Lula da Silva said the government will help build one million new homes by 2010 to revive economic growth and as part of a package of measures to bolster the domestic market to be announced in coming days.
Thursday, February 12th 2009 - 20:00 UTC
Chilean peso at a four month high against US dollar

The Chilean peso hit a new four-month high on Wednesday, driven higher as banks and pension funds sold dollars to buy local bonds, while stocks retreated ahead of a likely aggressive central bank rate cut.
Thursday, February 12th 2009 - 20:00 UTC
US trade deficit in December falls to a record low 39 billion

The US trade deficit fell to the lowest level in nearly six years in December as the recession depressed demand for imports. US Commerce Department said Wednesday that the deficit in December fell 4% to 39.9 billion US dollars from 41.6 billion in November.
Thursday, February 12th 2009 - 20:00 UTC
US federal budget 2009 shortfall could reach one trillion

The US budget deficit widened more than economists forecast in January as spending soared and corporate tax receipts shrank, putting the Treasury on course for a record annual shortfall of more than one trillion USD.
Thursday, February 12th 2009 - 20:00 UTC
Panama Canal forecasts 5% drop in cargo tonnage

The global slowdown have influenced estimates of the Panama Canal Authority, CAP, which now forecasts a 5% drop in cargo tonnage going through the waterway in 2008-2009. This represents a decrease close to 19.9 million tons, leaving a total of 294.1 million.
Thursday, February 12th 2009 - 20:00 UTC
FAO predicts fall in global cereal crop and hunger threat

Bad weather, violent conflict and volatile market prices could force a drop off in the global production of cereal crops this year, the United Nations Food and Agricultural Organization (FAO) predicted Thursday after already warning that some one billion people worldwide are going hungry.
Wednesday, February 11th 2009 - 20:00 UTC
Geithner unveils 1.5 trillion bail-out plan and toxic fund

Treasury Secretary Timothy Geithner has unveiled a comprehensive bank bail-out plan worth at least 1.5 trillion US dollars. Under the plan, the size of a key Federal Reserve lending program will be expanded to 1 trillion from 200 billion.
Wednesday, February 11th 2009 - 20:00 UTC
Argentina and Spain admit difficult economic relations

Visiting Argentine president Cristina Fernández de Kirchner and Spanish president Jose Luis Rodriguez Zapatero, admitted on Tuesday difficulties in the economic relations but emphasized that bilateral relations are excellent.