Economy

• Thursday, August 12th 2010 - 17:46 UTC

  Uruguay calls for a Mercosur with “open regionalism” for smaller members

  

  Uruguay called on Brazil and Argentina to allow Mercosur junior members to reach unilateral trade agreements with third countries helping to boost the group’s dynamism.

• Thursday, August 12th 2010 - 04:22 UTC

  Sterling holders interest in property moves to Netherlands and Germany

  

  Sterling holders interest in hitherto hot overseas property destinations has decidedly cooled due to the recession, a report out this week showed. Searches for property in the United Arab Emirates, which includes Dubai, have dipped 80% in the last two years, the report from foreign exchange company Moneycorp and the Rightmove property company found.

• Thursday, August 12th 2010 - 04:05 UTC

  China on course to become biggest foreign direct investor in Brazil

  

  China's direct investment in Brazil has surged, putting China on course to be the biggest foreign direct investor in Latin America's largest economy this year.

• Thursday, August 12th 2010 - 00:20 UTC

  New York Fed will buy 18 billion of Treasury debt in nine operations

  

  The New York Federal Reserve announced Wednesday it will buy about 18 billion US dollars of Treasury debt in nine operations from August 17 through September 13.

• Wednesday, August 11th 2010 - 23:56 UTC

  Chinese industrial growth slows down for fifth consecutive month

  

  Chinese industrial growth slowed again in July, adding to data suggesting that the country's economy is cooling. Factory output was up 13.4% from July 2009, but this was the fifth consecutive month the annual pace had slowed and the lowest rate of 2010.

• Wednesday, August 11th 2010 - 06:27 UTC

  Private sector anticipates strong performance of Argentine economy in 2010/11

  

  Argentina’s Finance Executive's Institute (IAEF) indicates Argentina could grow 6.5% in 2010 and 4.5% in 2011 according to its August report released this week.

• Wednesday, August 11th 2010 - 06:25 UTC

  China’s import growth slowed down in July, while exports kept rising

  

  China's import growth slowed in July, which economists are seeing as a sign that the country's rapid economic expansion is cooling. Imports climbed by 22.7% compared with a year ago to 116.8 billon US dollars, which is well below the 53% expansion seen in June.

• Wednesday, August 11th 2010 - 06:21 UTC

  Japan leaves benchmark rate on hold; fears Chinese slowdown

  

  Japan's central bank has kept its benchmark interest rate unchanged as it tries to nurture the country's slow recovery from recession while also attempting to tackle deflation. Rates have been held at 0.1% since the end of 2008.

• Wednesday, August 11th 2010 - 06:19 UTC

  Fed admits modest US recovery and will buy long term government debt

  

  The US Federal Reserve announced Tuesday steps to boost economic recovery and will be using proceeds from its investments in mortgage securities to buy longer-term government debt. The Fed also kept interest rates unchanged at between zero and 0.25%.

• Wednesday, August 11th 2010 - 06:07 UTC

  Two leading Brazilian banks join to expand operations in Africa

  

  Two leading Brazilian banks have agreed to acquire stakes in BES Africa, a holding company belonging to Portugal’s biggest publicly traded bank that makes investments in Africa.