Economy

Tuesday, October 26th 2010 - 05:11 UTC
Roubini forecasts “cloudy” outlook for the Argentine economy in 2011

Nouriel Roubini, the New York University professor who predicted the global financial crisis, said the outlook for Argentina’s economy is “cloudy” and GDP is slated to decline in 2011 as the global slowdown may lead to fewer exports.
Tuesday, October 26th 2010 - 04:46 UTC
Singapore wants to merge with Sydney and create Asia’s second financial hub

The Singapore stock exchange (SGX) has unveiled a multi-billion dollar bid for the company that owns the Australian Stock Exchange (ASX) in Sydney. If approved the 8.3 billion take-over would mark the first stock exchange merger in the Asia Pacific region.
Tuesday, October 26th 2010 - 04:32 UTC
US Treasury bonds fetch negative yield ahead of Fed’s actions to prop inflation

US Treasury Department sold securities that fetched a negative yield for the first time, implying investors are willing to pay the government to own its debt. This is a milestone in the current rock-bottom interest rate environment, as the Federal Reserve is widely expected next week to announce it will buy more Treasuries to jump-start a sluggish economy.
Tuesday, October 26th 2010 - 02:32 UTC
Iglesias praises agreement to giver emerging economies greater say in IMF

Enrique Iglesias, Ibero-America secretary general praised the G-20 decision to reform the IMF giving greater representation to the emerging economies but warned that the so called “currencies war” threatens to trigger a dangerous bout of protectionism at world level.
Monday, October 25th 2010 - 21:45 UTC
Qatar interested in buying Christie’s to help with kingdom’s museum collection

Qatar, the wealthy Gulf Arab state whose foreign assets include London property and investments in Volkswagen, may buy Christie's auction house to bolster its cultural credentials, the Financial Times said.
Monday, October 25th 2010 - 21:28 UTC
Brazil’s current account deficit at an annual record boosted by the strong Real

Brazil’s 12-month current account gap widened to a record high in September as domestic demand and the Real appreciation boosted spending on imports.
Monday, October 25th 2010 - 21:23 UTC
Malnutrition kills 206 children in six months in Argentine province

A total of 206 children have died this year of malnutrition in the northern Argentina province of Misiones (bordering with Paraguay and Brazil), revealed Monday Governor Maurice Closs.
Monday, October 25th 2010 - 03:49 UTC
Petrobras Confirms Tupi Field Could Hold 8 Billion Barrels

Brazilian state-controlled energy giant Petrobras said Friday that the drilling of a new exploratory well at the offshore Tupi field confirms potential recoverable reserves of between 5-8 billion barrels of oil equivalent.
Monday, October 25th 2010 - 03:28 UTC
PM Cameron: Cuts Are Right And Hit Rich Hardest

David Cameron has again defended his Government's spending cuts, insisting they are “fair” with society's richest shouldering the greatest burden.
Monday, October 25th 2010 - 02:55 UTC
US says China is “committed” to allow the Yuan to appreciate

United States Treasury Secretary Timothy Geithner has said he believes China is now “committed” to allowing the Yuan to go up in value. Mr Geithner made the comment in a TV interview before he held talks with China's Vice-Premier, Wang Qishan.