Economy

• Saturday, March 20th 2010 - 01:56 UTC

  US February consumer prices flat; producer prices fall 0.6%

  

  United States Labour Department reported that the consumer price index was flat in February, though prices were 2.1% higher than a year ago. Core inflation - which strips away food and energy costs - saw a 0.1% rise.

• Friday, March 19th 2010 - 11:10 UTC

  Chile considers increasing mining royalty to help earthquake reconstruction

  

  Marking a break from established policy, the Chilean government is considering the opposition’s proposal to increase the mining royalty tax. Government ministers are currently studying the implications of a tax increase, the money from which would be used to aid in earthquake reconstruction.

• Friday, March 19th 2010 - 03:47 UTC

  Warning petrol in UK could reach 120p a litre; 3p increase from April

  

  Petrol prices could reach an eye-watering 120 pennies per litre later this year, the AA is warning. The organisation is claiming that unleaded fuel could even top the price, equivalent to £5.41 a gallon, and Alistair Darling is being urged to delay the introduction of a planned 3p increase in petrol duty due to come in on April 1.

• Friday, March 19th 2010 - 01:22 UTC

  Argentine government expects quick return to international bond markets

  

  Argentina moved a step closer to a planned swap of defaulted debt and an issue of up to 15 billion US dollars in new bonds, with an amended filing to the US Securities and Exchange Commission, SEC

• Friday, March 19th 2010 - 01:21 UTC

  Greece closer to the IMF; Euro plummets below 1.36 US dollars

  

  News that Greece may go cap in hand to the IMF for help with its debt crisis prompted investors to rush for the relative safety of the dollar, which soared against the Euro on Thursday. The Euro fetched 1.3603 dollars down more than a US cent on late trading.

• Thursday, March 18th 2010 - 23:45 UTC

  Brazil leaves basic rate unchanged at 8.75%, in divided decision

  

  The Brazilian central bank kept its benchmark Selic interest rate at a record low 8.75% in a less-than-unanimous decision, signaling that borrowing costs may rise as soon as next month.

• Thursday, March 18th 2010 - 21:30 UTC

  Chile’s quake death toll, 700 and economic damage: 18% of GDP

  

  The Chilean government has updated the death toll from the Feb. 27 earthquake, saying 700 people lost their lives during or following the quake. Interior Minister Rodrigo Hinzpeter said just over 500 are confirmed dead, with another 200 missing.

• Thursday, March 18th 2010 - 21:23 UTC

  World Bank, IMF and IDB resume links (and loans) with Honduras

  

  Inter-American Development Bank (IDB) member countries this week agreed to resume lending to Honduras, the latest development institution to recognize the new government of President Porfirio Lobo.

• Wednesday, March 17th 2010 - 22:42 UTC

  Four banks accused of selling “toxic derivatives” to the city of Milan

  

  Four major banks have been ordered to stand trial in Italy in a fraud case related to derivatives trading. JP Morgan Chase, UBS, Deutsche Bank and Germany's Depfa bank have been told they will be tried for aggravated fraud, along with 13 other people. The charges relate to the sale of derivates to the city of Milan.

• Wednesday, March 17th 2010 - 22:37 UTC

  China forecasted to grow 9.5%; inflation and real estate bubble real threats

  

  The World Bank raised its China growth forecast this year to 9.5% from 9% but said Beijing needs to cool inflation and possible bubbles in real estate prices.