Economy

Thursday, February 28th 2008 - 21:00 UTC
Fearing inflation China tightens credit and absorbs liquidity

China's Central Bank cautioned it's ready to raise the interest rate as early as late March to check inflation, which may surge as high as 8.7% in the twelve months to February. As a consequence of the recent blizzards that destroyed crops, food prices this month could jump 6 to 7 percentage points over January.
Wednesday, February 27th 2008 - 21:00 UTC
Fed minutes reveal differences on interest rates cuts

Nine of Federal Reserve directors thought continued deterioration in financial markets and weakened economic conditions in the housing and labor markets needed the half percentage point cut to the discount rate last month.
Tuesday, February 26th 2008 - 21:00 UTC
Wheat prices soar on export restrictions and short supply

Wheat prices have hit a record level of 12 US dollars a bushel as supplies dwindle, raising concerns about growing food inflation. Investors fear that a shortage of high quality milling wheat will keep prices high for the cereal used in bread, pasta and other foods.
Tuesday, February 26th 2008 - 21:00 UTC
US recession fears see dollar collapse to 1.50 per Euro

The US dollar has fallen to a fresh record low against the Euro, after weak economic data renewed fears that the US economy may be facing a more serious recession than anticipated.
Monday, February 25th 2008 - 21:00 UTC
Argentine economy breaks production and job records

Argentine president Cristina Fernandez de Kirchner administration might have mid term energy problems incubating but the latest data indicates that the Argentine economy keeps steaming ahead with increased employment and record industrial production. Trade surplus in January was also unexpectedly high.
Monday, February 25th 2008 - 21:00 UTC
Brazil headed for annual record crop of 139.3 million tons

Brazil is expected to harvest 139.3 million tons of grains and oil seeds in the 2007/08 season, up 5.4% over the previous crop helped by limited diseases and the use of gene-modified seeds to grow stronger plants, said Agroconsult a Brazilian agriculture consultant company.
Monday, February 25th 2008 - 21:00 UTC
Inflation in Argentina “around 20%” says ex minister Lavagna

Argentina's former economy minister Roberto Lavagna claimed that inflation is “round 20%” departing from the government line that puts the index of rising prices at 8.5% for 2007.
Monday, February 25th 2008 - 21:00 UTC
Greenspan comes out in support of Sovereign Funds

Former Federal Reserve Chairman Alan Greenspan said on Monday any United States resistance to sovereign wealth funds investing in the world's largest economy would be “counter-productive.”
Friday, February 22nd 2008 - 21:00 UTC
The Argentine airline with no planes and which never flew

A fraud case involving an airline with managers, pilots, stewardesses, cabin crew, mechanics, ground crew, even a passengers complaint office butÃ¢€Â¦which has never taken off nor does it have aircrafts was filed Thursday at the office of an Argentine federal prosecutor in Buenos Aires.
Friday, February 22nd 2008 - 21:00 UTC
Brazil makes history: first time ever net foreign creditor

Brazil which for decades was the world's largest emerging-market debtor became a net foreign creditor for the first time in January according to a report released Thursday by the Central Bank in Brasilia.