Economy

• Friday, August 20th 2010 - 02:53 UTC

  Twelve months inflation expectations in Argentina steady at 25%

  

  Argentines expect prices to rise 25% over the next twelve months, according to the median estimate in a monthly survey by Buenos Aires-based Torcuato Di Tella University. Expectations in August remained unchanged from last month’s report, the university said in an e-mailed report.

• Friday, August 20th 2010 - 02:46 UTC

  Slower job creation and lower inflation indicate Brazilian economy cooling

  

  Brazil reported the third straight month of slower job creation in July, reflecting the slowdown of the economy in the second quarter after a massive 9% year-on-year growth in the first quarter of the year. Traders say this increases the likelihood central bank policy makers may leave interest rates unchanged in their next meeting.

• Friday, August 20th 2010 - 02:40 UTC

  China diversifying forex reserves to Asian currencies (South Korea and Japan)

  

  China is increasingly looking to its Asian neighbours' currencies to lessen its reliance on the US dollar, both for investment and trade. Slowing the pace at which it amasses US Treasury papers, China has started buying more South Korean and Japanese government bonds.

• Friday, August 20th 2010 - 02:36 UTC

  A wealthy nation made up mostly of poor people overtaking Japan?

  

  Where world economy is concerned, August 16, 2010 will go down history as a significant date. On this day, Japan quietly ceded to China the coveted title as the world's second largest economy which it had held for four decades.

• Friday, August 20th 2010 - 02:20 UTC

  Brazil overtakes Canada and Spain to become world’s eighth largest economy

  

  Brazil has overtaken Canada and Spain to become the world’s eighth largest economy, relegating Spain to ninth place, Spanish newspaper Expansión reported Wednesday.

• Thursday, August 19th 2010 - 03:11 UTC

  Latam’s business climate in July reached highest level in a decade

  

  Business climate in Latin America reached in July its highest level in a decade according to the joint report from Brazil’s Getulio Vargas Foundation and Germany’s Economic Research Institute (IFO) from the University of Munich.

• Thursday, August 19th 2010 - 02:57 UTC

  Argentine economic activity expands 11.1% in June over a year ago

  

  Argentina’s economic activity expanded 11.1% last June compared to the same month a year ago, anticipated President Cristina Fernandez de Kirchner during the celebration of the 126th anniversary of the Rosario Chamber of Commerce.

• Thursday, August 19th 2010 - 02:54 UTC

  Over-supply of homes hindering US economic recovery says Obama

  

  President Barack Obama has said an over-supply of homes is hindering the US economic recovery. Obama also said the US had to find a way to curb its budget deficit without further slowing economic growth.

• Wednesday, August 18th 2010 - 19:26 UTC

  Swiss win the “gruyere-war” certification over French cheese producers

  

  French gruyere producers have given up trying to win the coveted appellation d'origine controlée (AOC) certification, ceding the official label to the Swiss. They had been planning to take the matter to the European Commission, but decided against the risk: if their demand for the label had been rejected, they would have lost the right to call their cheese gruyere at all.

• Wednesday, August 18th 2010 - 19:11 UTC

  Bank of England warns about high inflation; rate won’t drop to 2% until mid 2012

  

  The Governor of the Bank of England warned of the dangers of ‘destructive’ high inflation after admitting his surprise that the rise in the UK cost of living continues to overshoot targets, according to a report in the Daily Mail.