Economy

Friday, April 9th 2010 - 00:52 UTC
The Uruguayan 2003 controlled default model, a way out for Greece?

The Uruguayan default model of 2003, under the auspices of the IMF, is a possible way out for the Greek situation according to Professor Reinhart (*), a world authority in sovereign defaults. The idea surfaced in an interview with the Telegraph.co.uk, Ambrose Evans-Pritchard who has covered world politics and economics for 25 years, based in Europe, the US, and Latin America.
Thursday, April 8th 2010 - 23:42 UTC
US/China hold talks on “economic relations” and global situation

US Treasury Secretary Timothy Geithner held talks Thursday in Beijing with Vice-Premier Wang Qishan. Neither the US nor Chinese officials would comment in detail on the meeting. But it is understood to be part of a long-running dispute over the value of the Chinese Yuan, which the US says has been kept artificially low.
Thursday, April 8th 2010 - 23:39 UTC
OECD votes for PM Brown and fourth Labour term

Prime Minister Gordon Brown’s bid for a fourth Labour term received a boost this week with a forecast that the UK would pull out of recession faster than many major international rivals.
Thursday, April 8th 2010 - 23:36 UTC
Euro zone interest rates at record-low 1% for eleventh month

The European Central Bank (ECB) has kept the Euro zone interest rate at its record-low level of 1% for the 11th month in a row. The decision was expected and comes as the ECB is scaling back its lending to banks aimed at stimulating the economy.
Thursday, April 8th 2010 - 22:56 UTC
Latam main ports’ containers activity contracted 6.8% in 2009

The 2009 global slowdown had an impact on the activity of the main ports of Latinamerica and the Caribbean, points out the latest release from the United Nations Economic Commission for Latinamerica and the Caribbean, Cepal.
Thursday, April 8th 2010 - 18:38 UTC
Bank of England ratifies current monetary policy

The Bank of England kept on Thursday the interest rate on hold and announced no change to current monetary policy. The cost of borrowing has now stayed at 0.5% for more than a year as the Bank's Monetary Policy Committee attempts to keep a fragile recovery on track.
Thursday, April 8th 2010 - 04:10 UTC
Chavez announce rainfall in central Venezuela will help reverse energy crisis

Heavy downpours that have swept away two people and flooded homes in central Venezuela were hailed by President Hugo Chavez as an early start to the rainy season that may mark the end of an extended electricity crisis.
Thursday, April 8th 2010 - 01:24 UTC
Soaring car sales confirm strong rebound of the Brazilian economy

Automobile output in Brazil soared in March as manufacturers ramped up production to keep up with record sales fuelled by a strong economic rebound, the national automakers' association Anfavea said on Wednesday.
Thursday, April 8th 2010 - 01:22 UTC
Ford will invest 250 million USD in Argentina targeting Mercosur

Ford Motor said it will spend 250 million US dollars on its operations in Argentina, where it will start production of a new vehicle for the Mercosur market. President and Chief Executive Alan Mulally announced the plan Wednesday during a meeting in Buenos Aires with Argentina President Cristina Fernandez.
Thursday, April 8th 2010 - 01:18 UTC
Daimler, Renault, Nissan seal alliance to lower costs, expand in European market

German auto major Daimler-Benz and Franco-Japanese alliance Renault-Nissan on Wednesday announced a three-way tie-up, including equity swaps, for co-operation in development of small cars and light commercial vehicles.