Economy

• Tuesday, June 22nd 2010 - 05:05 UTC

  Brazil reacts cautiously to the Yuan “greater flexibility” policy

  

  Brazil's Central Bank welcomed China's move to boost flexibility of the Yuan exchange rate, saying the decision showed China's willingness to help the global economy.

• Tuesday, June 22nd 2010 - 04:54 UTC

  G20 leaders (mainly US and Europe) seem divided stimuli timing withdrawal

  

  President Barack Obama has warned against cutting national debts too quickly as it would put economic recovery at risk. In a letter to G20 leaders, the US president said that while it was important to put in place “credible plans” to cut deficits, withdrawing economic stimulus early was dangerous.

• Tuesday, June 22nd 2010 - 04:52 UTC

  Risk rating agency says low risk of a Euro zone breakup; praises Stabilization Mechanism

  

  Although the sovereign debt crisis has revealed weaknesses in several European Union countries, the risk of a Euro zone breakup is low over the shorter term, Fitch Ratings said on Monday.

• Saturday, June 19th 2010 - 02:11 UTC

  BRIC emerging economies will enjoy agriculture boom, says UN-OECD report

  

  The emerging economies of Brazil, India, China and Russia (BRIC) will enjoy an agricultural boom over the next decade as production stalls in Western Europe, a report says.

• Friday, June 18th 2010 - 20:29 UTC

  IMF chief Strauss-Khan strongly supports Spain’s reforms

  

  IMF Managing Director Dominique Strauss-Kahn praised Spain’s management of the current economic situation and said the budget deficit will shrink “rapidly” as the government’s overhaul of labor rules boosts economic growth.

• Friday, June 18th 2010 - 19:28 UTC

  World Bank calls for stronger Yuan to reduce inflation and spur domestic demand

  

  World Bank has reiterated its view that the Chinese government should allow the Yuan to strengthen against other international currencies. The bank also forecasted the Chinese economy would grow 9.5% in 2010 and 8.5% in 2011.

• Friday, June 18th 2010 - 05:46 UTC

  What went wrong with the Euro? It was like some kind of sleeping pill

  

  EU president Herman Van Rompuy blamed the past strength of the European single currency for making the Euro zone unaware of its fiscal problems, in an interview with the Financial Times.

• Friday, June 18th 2010 - 05:43 UTC

  Venezuela’s CITGO offering to pay 12% for a 7 year bond

  

  US based CITGO Petroleum Corporation, a wholly owned subsidiary of Venezuela's state oil company Petroleos de Venezuela S.A. (PDVSA), is coming to market with a 7 year bond and offering to pay 11.75% to 12% on the debt.

• Friday, June 18th 2010 - 04:29 UTC

  China wants higher pay for workers; spate of strikes in foreign owned companies

  

  One of China's most influential newspapers, the official People's Daily, has called for workers' incomes to be raised. The paper says wages need to rise to protect stability and transform society.

• Friday, June 18th 2010 - 00:37 UTC

  Salmon farming in Chile greater environmental threat than estimated

  

  Salmon farms in Chile are a worse threat to the environment than originally thought following on unexpected results from a German scientific research team studying communications among whales in the southern Pacific along Chilean Patagonia.