Economy

Friday, August 10th 2007 - 21:00 UTC
US markets plunge and more volatility forecasted

United States stocks plunged Thursday with the Dow Jones falling to its second worst close so far this year, as reports of liquidating hedge funds triggered more credit-related anxiety
Thursday, August 9th 2007 - 21:00 UTC
Santiago covered in snow and Chilean farms knock out

Chile's capital Santiago woke up Thursday to a very unusual sight: most of the city was covered by ten to fifteen centimeters of snow, becoming thicker towards the east and the mighty Andes cordillera.
Thursday, August 9th 2007 - 21:00 UTC
Central banks inject funds to contain fears of global credit crunch

The European Central Bank, ECB, pumped 94.8 billion Euros into the Euro zone banking market Thursday in an attempt to contain fears about a sub-prime credit crunch spilling over from United States.
Thursday, August 9th 2007 - 21:00 UTC
Yuan clash: China threatens with massive sale of US bonds

The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasury bonds if Washington imposes trade sanctions to force a Yuan revaluation.
Thursday, August 9th 2007 - 21:00 UTC
Zoellick on WB fund raising tour warns about corruption

World Bank President Robert Zoellick criticized on Thursday corruption in poor countries that receive the bank's loans, echoing the anti-graft stance of his controversial predecessor, Paul Wolfowitz.
Wednesday, August 8th 2007 - 21:00 UTC
Official (unconvincing) Argentine July inflation, 0.5%

Fears that the Argentine government appears to be intentionally underreporting inflation in an election year emerged again this week when the scandal plagued Statistics and Census Institute (INDEC), under judicial investigation, announced 0.5% July inflation.
Wednesday, August 8th 2007 - 21:00 UTC
Big Mac index has Argentina among most expensive countries

According to the Big Mac index from The Economist which measures purchasing power parity, Argentina continues to climb and is rapidly becoming one of the most expensive countries in the world.
Tuesday, August 7th 2007 - 21:00 UTC
Fed fears inflation and leaves rates unchanged at 5.25%

Fearing that inflation will fail to moderate as expected the United States Federal Reserve Open Market Committee left on Tuesday interest rates unchanged. Analysts had widely predicted the Federal Reserve would leave rates at 5.25% for a 13th month, and that was the unanimous verdict of the Fed panel.
Tuesday, August 7th 2007 - 21:00 UTC
Chilean meat industry stands to benefit most from FTA with Japan

The Free Trade Agreement between Chile and Japan, which comes into effect next month, will increase Chilean exports to that Asian nation by as much as 400 million US dollars a year, according to newly released Chilean government estimates.
Monday, August 6th 2007 - 21:00 UTC
Latin America's richest man is worth 67.8 billion US dollars

Mexican telecom tycoon Carlos Slim, who is estimated by some calculations to be the world's richest man, said that he shook aside those comments and was more interested in making his business life compatible with his family and personal life.