Economy

• Wednesday, April 21st 2010 - 16:13 UTC

  IMF warns about asset bubbles in developing powers in Latam and Asia

  

  The International Monetary Fund (IMF) has urged developing powers in Asia and Latin America to guard against the kinds of asset bubbles that caused wealthier economies to plunge into recession in the last two years.

• Wednesday, April 21st 2010 - 02:55 UTC

  Goldman Sachs earnings double; UK launches formal probe into fraud allegations

  

  Goldman Sachs Group Inc said first-quarter earnings nearly doubled, while in London Britain's financial regulator launched a formal probe related to civil fraud allegations against the Wall Street bank.

• Wednesday, April 21st 2010 - 02:52 UTC

  Stronger Yuan “critical” for a more stable world economy claims Brazil

  

  A stronger Chinese currency is “critical” for the good of the global economy, Brazil's central bank chief Henrique Meirelles said on Tuesday, joining a chorus of critics of China's foreign exchange policy.

• Tuesday, April 20th 2010 - 14:42 UTC

  UK economy recovery forecasted towards the end of 2011

  

  Prospects for the UK's economic recovery remain poor this year with output growth of 1% or less predicted in 2010, a leading forecaster has warned. It also suggested that although consumer spending is on the rise, it will remain too weak to sustain a recovery this year as consumers try to pay off debts as quickly as possible.

• Saturday, April 17th 2010 - 06:36 UTC

  As markets begin to normalize controversy over capital inflow controls resurfaces

  

  The International Monetary Fund has warned that an over reliance on capital controls could derail the current global recovery. Although admitting that it may be a good idea for one country to apply controls on capital inflow, as the levy imposed by Brazil, “it could encourage too many others in the region to follow suit”.

• Saturday, April 17th 2010 - 06:34 UTC

  Brazil considering tax breaks and lower import tariffs to fight inflation

  

  Brazil is considering additional anti-inflationary measures such as tax breaks and lower import tariffs but monetary policy remains the main tool to control prices, Finance Ministry officials said on Friday.

• Saturday, April 17th 2010 - 06:29 UTC

  Argentina’s “next step” is to negotiate 7.5 billion debt with the Paris Club

  

  After unveiling Argentina's debt-swap details Thursday, Economy Minister Amado Boudou said on Friday that the next step is to negotiate the 7.5 billion dollar debt Argentina maintains with the Paris Club.

• Saturday, April 17th 2010 - 06:23 UTC

  Egypt expects to sign free trade agreement with Mercosur next July

  

  Egypt expects to complete free trade negotiations with the four Mercosur countries -- Brazil, Argentina, Uruguay and Paraguay -- in July, Egypt's trade minister revealed this week in Cairo.

• Saturday, April 17th 2010 - 06:19 UTC

  Taxpayers will no longer be hostages of banks “too big to fall” promises Obama

  

  US President Barack Obama has proposed significant new curbs on the activities of banks to try to prevent future financial crises. The plans - the most far-reaching yet -include limits to the size of banks and restrictions on riskier trading.

• Saturday, April 17th 2010 - 03:12 UTC

  Reconstruction efforts will turn Chile from capital exporter to importer, says IIF

  

  Increased external financing requirements to cover reconstruction costs triggered by the earthquake and tsunami of February 27 will shift Chile’s external position from capital exporter in 2009 (largely the result of its dynamic private pension system) to capital importer this year and next, according to the Institute of International Finance, IIF.