Economy

Wednesday, March 3rd 2010 - 06:51 UTC
Venezuela’s economy contracts 3.3% in 2009; modest forecast for 2010

Venezuela's economy fell by 3.3% in 2009 after contracting 5.8% in the last quarter, informed the Central Bank of Venezuela (BCV) which blamed the global crisis and falling prices for oil the country’s main export.
Wednesday, March 3rd 2010 - 06:39 UTC
Russian billionaire looses 53 million USD deposit on villa purchase

Russian billionaire Mikhail Prokhorov lost 53 million US dollars deposit on a 530 million USD villa in southern France after a court ruled Tuesday that he failed to complete the purchase.
Wednesday, March 3rd 2010 - 06:37 UTC
China dependent Australia raised interest rate 25 points to 4%

Australia's central bank raised interest rates on Tuesday for the fourth time since October, as it seeks to cool its growing economy. The increase, to 4% from 3.75%, was widely expected by economists.
Wednesday, March 3rd 2010 - 06:31 UTC
Canada leaves rates unchanged at 0.25% in spite of robust 5% growth

The Bank of Canada took its first steps Tuesday toward returning the country to more normal interest-rate levels by signalling a more hawkish tone on inflation and acknowledging the economy is performing better than expected on “vigorous” consumer demand.
Wednesday, March 3rd 2010 - 06:23 UTC
Ford Motor becomes tops US sales ahead of GM and Toyota

Ford Motor overtook rival General Motors in US sales on Tuesday as Toyota faltered amid a series of mass recalls and a congressional investigation into its safety standards. Toyota reported an 8.7% drop in February US sales to 100,027 vehicles, while the overall industry was expected to perform significantly better than depressed year-ago levels.
Wednesday, March 3rd 2010 - 06:04 UTC
Real Madrid and Barcelona the world’s richest soccer teams

According to this year’s “Football Money League” report from Deloitte, some soccer clubs — such as British teams Arsenal and Chelsea, specifically — are falling down on the job when it comes to pricing their exposure with sponsors. The annual report ranks and analyzes international teams by their revenues, and breaks out sponsorship and advertising income.
Tuesday, March 2nd 2010 - 04:44 UTC
EU demands more efforts from Greece to reduce deficit

The European Union top finance chief said Monday that the Euro-zone is prepared to take concerted action to support Greece, but he emphasized that Greece needs to make more of an effort to reduce its deficit.
Monday, March 1st 2010 - 06:00 UTC
Uruguay aims to reduce debt load and boost trade in next five years

Uruguay’s Vice President-elect Danilo Astori said the next government will reduce the country’s debt load and seek to boost trade with the rest of the world in a bid to bolster economic growth.
Monday, March 1st 2010 - 05:52 UTC
Euro’s most crucial week since creation; Greece closer to an IMF rescue

German Chancellor Angela Merkel warned Sunday that the Euro is facing its most serious crisis since its launch a decade ago. The comment comes as European Union officials prepare to visit Athens Monday amid reports of an EU bailout whose effects could lead to further debt crises in the continent's troubled south.
Monday, March 1st 2010 - 05:30 UTC
Copper prices expected to climb given uncertainty of Chilean supply

Copper is likely to climb when trading starts on Monday, lifted by uncertainty over supply after the world's top copper producer Chile suffered a massive earthquake, analysts said over the weekend.