Economy

Thursday, October 23rd 2008 - 20:00 UTC
Ban Ki-moon to discuss global crisis with economists

Secretary-General Ban Ki-moon will meet with a group of eminent economists tomorrow as part of his evaluation of the impact of the global financial crisis on United Nations efforts to achieve the anti-poverty targets known as the Millennium Development Goals (MDGs)
Thursday, October 23rd 2008 - 20:00 UTC
PM Brown admits the “r-word” is round the corner

Prime Minister Gordon Brown finally admitted that Britain is likely to suffer a recession - hours after a similar warning from the Bank of England sent the value of the pound plunging to a five-year low.
Thursday, October 23rd 2008 - 20:00 UTC
The dark side of Brazil's “brotherly” policy in the region

Brazil has sent a strong message to those (restless) neighbours that could “threaten the country”, according to reports in the Sao Paulo press.
Thursday, October 23rd 2008 - 20:00 UTC
Greenspan “mea culpa” and financial crisis before Congress

Former United States Federal Reserve chairman Alan Greenspan confessed on Thursday that he had made “mistakes” in championing the light-touch US financial regulatory system, which led to what he admitted had become a “once-in-a-century credit tsunami”.
Thursday, October 23rd 2008 - 20:00 UTC
A 50 billion USD package to support Brazilian currency

Brazil's central bank said Wednesday it would pump the equivalent of 50 billion US dollars into currency markets to stem a two-month tumble in the Real that is threatening companies and stoked inflation.
Wednesday, October 22nd 2008 - 20:00 UTC
Private pension funds nationalization shocks Argentina

Argentine President Cristina Fernandez proposed Tuesday a government takeover of nearly 30 billion US dollars in private pension funds, saying pensioners must be protected from the global financial crisis.
Wednesday, October 22nd 2008 - 20:00 UTC
Bush invites G20 for crisis summit on November 15

Unites States President Bush invited leaders of the Group of 20 participants to a summit in Washington on November 15 on the global economic crisis announced the White House on Wednesday.
Wednesday, October 22nd 2008 - 20:00 UTC
Brazil Real down 33% in spite of billions USD in support

Brazil was forced to appeal to 22.9 billion US dollars in the past month, including sales of foreign reserves, derivatives and loans to prop the weakened Real punished by investors fleeing from emerging markets to more secure assets.
Tuesday, October 21st 2008 - 20:00 UTC
Financial meltdown could increase jobless by 20 million

The global financial crisis could increase world unemployment by an estimated 20 million women and men, the Director-General of the International Labour Office (ILO) said on Monday.
Tuesday, October 21st 2008 - 20:00 UTC
Recession and job cuts hit China's toy industry province

The global economic slowdown is starting to impact on China, the world's biggest industrial production centre. As many as half of all toy manufacturers in the Pearl River Delta could go out of business within the next two years an industry expert said on Monday following the closure of the Smart Union toy factory.