Economy

• Wednesday, October 20th 2010 - 03:06 UTC

  US Treasury launches fourth sale of Citigroup common stock

  

  The US Treasury Department said it has launched a fourth sale of 1.5 billion shares of Citigroup Inc common stock under a prearranged trading plan.

• Wednesday, October 20th 2010 - 03:02 UTC

  Fiat plans to invest 6 billion USD by 2015 in Brazil to boost production

  

  Italy's Fiat will invest 10 billion Reais (USD 6 billion) in Brazil by 2015 in operations that include production of cars, auto parts and agricultural machinery.

• Wednesday, October 20th 2010 - 02:58 UTC

  Lehman bankruptcy proceedings expenses crossed the billion US dollars

  

  Expenses related to the bankruptcy proceedings of Lehman Brothers Holdings, whose collapse worsened the financial meltdown in 2008, has crossed the 1 billion US dollar mark.

• Wednesday, October 20th 2010 - 01:12 UTC

  Indian commerce chambers underline Mercosur business opportunities

  

  The potential for expanding trade and investments with Mercosur was underlined by the Federation of Indian Chambers of Commerce and Industry, Fecci, following on last month’s visit to the region by a delegation of Indian business people.

• Wednesday, October 20th 2010 - 01:04 UTC

  In a surprise move China raises interest rate for the first time since 2007

  

  China has raised interest rates for the first time since 2007, as it tries to rein in inflation and dampen its red-hot real estate market. The People's Bank of China said it will raise its one-year lending rate to 5.6% from 5.31% and its one-year deposit rate to 2.5% from 2.25%.

• Wednesday, October 20th 2010 - 01:02 UTC

  Geithner vows not to devalue the dollar for export advantage

  

  Treasury Secretary Timothy Geithner vowed that the United States would not devalue the dollar for export advantage, saying no country could weaken its currency to gain economic health.

• Wednesday, October 20th 2010 - 00:59 UTC

  China purchases 70.000 tons of Argentine soybean oil; in November 80.000 tons?

  

  China has bought at least 70,000 tons of Argentine soybean oil after Beijing decided to unlock the imports ban that had resulted in a mounting-tension conflict. The move came after China agreed to allow all products coming from Argentina to enter its ports and was reported by Oil World magazine.

• Wednesday, October 20th 2010 - 00:57 UTC

  World Bank warns the US about consequences of dollar liquidity

  

  Surging capital inflows threaten Asia's economic stability, the World Bank warned after Treasury Secretary Timothy Geithner sought to draw the venom from a global row over currencies by vowing not to devalue the dollar.

• Wednesday, October 20th 2010 - 00:52 UTC

  IMF: imperative for Latinamerica to cut growth of public spending

  

  The International Monetary Fund once again warned Latin American nations with fast growing economies of the risk of “overheating” due to strong domestic demand, which would cause “inflation and widening of current account deficits.”

• Tuesday, October 19th 2010 - 03:56 UTC

  Fears strong growth in Brazil will fuel inflation in months ahead

  

  Economists in a weekly central bank survey raised for a fifth straight week their forecasts for Brazil's benchmark inflation index in 2010 and 2011, underscoring concerns that growth in the economy will raise consumer prices in the months ahead, the bank said.