Economy

Friday, November 23rd 2007 - 20:00 UTC
Greenspan says housing bubble is a global phenomenon

Former Federal Reserve Chairman Alan Greenspan speaking in Norway on Friday said he has “no particular regrets” and that the deepening slump in the US housing market isn't a result of his policies.
Thursday, November 22nd 2007 - 20:00 UTC
Costa Rica signs free trade agreement but hurdles remain

Costa Rica's president on Wednesday signed into law a much debated controversial free trade agreement with its Central American neighbors, the United States and the Dominican Republic.
Wednesday, November 21st 2007 - 20:00 UTC
US mortgage defaults to worsen in 2008, warns Paulson

United States Treasury secretary Henry Paulson said mortgage defaults will worsen in 2008 and lenders should act “aggressively” to offer new loan terms to avert an economic calamity, the Wall Street Journal online said.
Wednesday, November 21st 2007 - 20:00 UTC
Copper prices fall to 8 month low below 3 dollars benchmark

Copper prices fell on Wednesday to an eight-month low, below 3 US dollars per pound, on the London Metal Exchange after rising dramatically last week due to several earthquakes in northern Chile's mining region. However the monthly average for copper remains at 3.21 US dollars.
Wednesday, November 21st 2007 - 20:00 UTC
OECD warns of mortgage debacle on equity markets

The Organization for Economic Cooperation and Development, OECD said on Wednesday that overall losses caused by the U.S. mortgage market crisis could hit 300 billion US dollars and the broader credit crunch could yet inflict greater damage on equity markets.
Wednesday, November 21st 2007 - 20:00 UTC
China forecasts boom in cooking oil and grains markets

China's soy oil purchases will represent 45% of world's imports by the end of last September up 25% from seven years ago according to a report from the Beijing government supported Shanghai Daily”.
Wednesday, November 21st 2007 - 20:00 UTC
US dollar slumps to new low against the Euro and Yen

The dollar on Wednesday slumped to a new record low against the Euro pushed by weaker US growth prospects and pressures for another cut to US interest rates when the Federal Reserve Monetary meets next December 11.
Wednesday, November 21st 2007 - 20:00 UTC
EU big farms subsidies to be drastically capped

European Agriculture Commissioner Mariann Fischer Boel announced plans to reduce funding for Europe's biggest farmers which means anyone currently receiving more than 100,000 euros as part of the Single Payment Scheme would have their aid capped.
Tuesday, November 20th 2007 - 20:00 UTC
Trichet cautiously optimistic on global growth prospects

The chairman of the G10 group of central bankers Jean-Claude Trichet was optimistic on Monday about prospects for global growth even though he conceded that the risks remain listed to the downside.
Tuesday, November 20th 2007 - 20:00 UTC
World markets plunge on Goldman Sachs downgrading Citibank

Global markets slumped Monday amid fears over the fallout of the credit crisis, after Goldman Sachs downgraded Citibank and forecast 15 billion US dollars in losses from the US subprime market.