Economy

• Monday, March 1st 2010 - 05:24 UTC

  If Mercosur is failing, “we are doing something wrong”, said Mujica

  

  Uruguay’s president elect Jose Mujica who takes office Monday March first admitted that Mercosur is “failing” because “we are doing something wrong”, but was enthusiastic about Latinamerican integration and praised Argentina, a country where “Uruguayans are not foreigners”.

• Saturday, February 27th 2010 - 08:16 UTC

  Brazilian central bank prepares to withdraw stimulus measures and liquidity

  

  The Brazilian Central bank’s decision to raise reserve requirements this week will have an impact on monetary policy, admitted the bank’s governor Henrique Meirelles in an interview with the financial publication Valor Economico.

• Saturday, February 27th 2010 - 08:07 UTC

  Positive surprise from the UK economy in the fourth quarter

  

  The United Kingdom economy grew at a greater rate than previously thought in the final three months of 2009, official figures have shown. The Office for National Statistics revised its figure for fourth quarter GDP to show 0.3% growth - up from its previous estimate of 0.1%.

• Saturday, February 27th 2010 - 07:46 UTC

  US economy signals swift pace of recovery; consumer confidence remains tepid

  

  The US economy grew at an annualised rate of 5.9% in the last three months of 2009, revised official figures have shown. The rate is higher than the first estimate of 5.7%.
  The figures confirm the world's largest economy is emerging rapidly from recession.

• Saturday, February 27th 2010 - 07:45 UTC

  Jaguar and Land Rover under new owner India’s Tata turn a profit

  

  Jaguar Land Rover turned in a profit of £55 million in the last three months of 2009 after a loss of £60 million in the previous quarter. The company's owner, India's Tata Motors, said the bounce back was thanks to stronger market conditions.
  It added that its range of new models had helped its performance.

• Saturday, February 27th 2010 - 07:21 UTC

  Greek/German row leads to claims of World War II compensations

  

  Greek Deputy Prime Minister Theodoros Pangalos has accused Germany of failing to compensate Greece for Nazi occupation during World War II. Mr Pangalos made the remarks during a wide-ranging BBC interview about Greece's financial difficulties.

• Saturday, February 27th 2010 - 07:17 UTC

  IMF warns of asset bubbles in Brazil and Indonesia

  

  International Monetary Fund, IMF, chief Dominique Strauss Khan warned that Brazil and Indonesia and other emerging countries are in “real risk” of suffering an assets price bubble given the inflow on foreign capital.

• Saturday, February 27th 2010 - 00:49 UTC

  US says China remains largest holder of Treasury securities

  

  Japan did not surpass China to become the world’s largest foreign holder of US Treasury securities in December, reported the US Treasury Department on Friday following a revision to figures released earlier this month.

• Saturday, February 27th 2010 - 00:47 UTC

  IMF chief suggests “exploring” possible new international reserve currency

  

  The head of the International Monetary Fund said it would be “intellectually healthy to explore” the possible creation of an international reserve currency that would serve as an alternative to the US dollar-.

• Friday, February 26th 2010 - 16:55 UTC

  China recommends US takes steps to promote confidence in the dollar

  

  China defended its move to reduce its holdings of U.S. Treasury securities, saying the United States should take steps to promote confidence in U.S. dollar.