Economy

Tuesday, August 21st 2007 - 21:00 UTC
China hikes interest rates for the fourth time this year

China raised interest rates on Tuesday for the fourth time this year in an attempt to control the country's economic expansion as stock prices hit another record high and inflation in July was the highest in a decade.
Tuesday, August 21st 2007 - 21:00 UTC
Mortgage buble: risk rating agencies to be grilled by US Senate

Credit rating companies must “shoulder some responsibility” for sub-prime mortgage bonds that have sparked a crisis in credit markets said United States Senator Richard C. Shelby, the Senate Banking Committee's top Republican.
Tuesday, August 21st 2007 - 21:00 UTC
Latam business climate “remains favorable”, says FGV

Latinamerica business climate remained favorable in July and reached its highest level since April 2000, according to the quarterly report from the prestigious Brazilian Foundation Getulio Vargas, FGV.
Saturday, August 18th 2007 - 21:00 UTC
Argentina plays tariffs to help industry and agriculture

Argentina announced Friday custom duties and tariffs to restrict imports of certain goods that are having a negative impact on its industry. Sectors benefited include tires, bicycles, foot wear, auto parts, leather goods, toys and textiles.
Saturday, August 18th 2007 - 21:00 UTC
ECB reiterates commitment to “price and financial stability”

The European Central Bank will do its job to preserve price stability, ECB governing council member and president of Germany's Bundesbank Axel Weber reiterated Friday.
Saturday, August 18th 2007 - 21:00 UTC
Sub-prime quake: EU will review credit rating industry

The European Commission is planning to review the credit rating industry after suggestions the sector was too slow to warn on the US sub-prime loans crisis, according to The Financial Times.
Saturday, August 18th 2007 - 21:00 UTC
Argentine economy grows 8.4%; unemployment down to 9.8%

The Argentine economy expanded 8.4% during the first half of 2007 compared to a year ago reported Friday the country's Statistics and Census Office, Indec. President Nestor Kirchner also announced that unemployment in the second quarter of 2007 dropped to 8.5% of active population.
Friday, August 17th 2007 - 21:00 UTC
Federal Reserve loosens credit to banks and markets react positively

World markets on Friday reacted firmly back to positive following the Federal Reserve announcement that it would cut the rate at which it lends banks to inject more liquidity into the financial system
Thursday, August 16th 2007 - 21:00 UTC
Fears of worse to come make markets immune to liquidity injections

A week after share prices around the world first began to fall markets in Asia on Thursday were still on the way down following on the volatility that has gripped United States and European markets.
Thursday, August 16th 2007 - 21:00 UTC
The “Uruguayan formula” secures Argentine natural gas for Chile

Chilean gas company Metrogas has succeeded in securing additional natural gas from Argentina to supply its needs for Santiago. The new agreement, dubbed “the Uruguayan Formula,” involves importing gas which was originally meant for Uruguay to Chile.