Economy

Saturday, November 28th 2009 - 06:02 UTC
Brazilian banker says that Dubai effect is “alert signal” for market euphoria

A possible debt default by a Dubai state-owned conglomerate is an “alert signal” to avoid market euphoria, Brazil central bank chief Henrique Meirelles said on Friday.
Saturday, November 28th 2009 - 05:54 UTC
Brazilian economy forecasted to grow 6.1% in 2010 says Bradesco

Brazil’s economy is forecasted to grow 6.1% in 2010, bolstered by rising domestic demand, increasing exports and higher investment, according to Banco Bradesco, the country’s second-largest bank by market value.
Saturday, November 28th 2009 - 05:03 UTC
China promises to continue playing a leading role in global recovery

China will continue the proactive fiscal policy and moderately easy monetary policy next year, the Political Bureau of the Communist Party of China (CPC) Central Committee agreed Friday, reports the official news agency Xinhua.
Friday, November 27th 2009 - 08:40 UTC
Volkswagen plans to invest 3.5 billion USD in next five years

Volkswagen do Brasil said Thursday it will invest the equivalent of 3.5 billion US dollars in Brazil between 2010 and 2014 in an attempt to overtake Fiat as the country's number one car and truck retailer.
Friday, November 27th 2009 - 08:38 UTC
IMF identifies four crucial challenges ahead for policymakers

International Monetary Fund Managing Director Dominique Strauss-Kahn said the global economy has made remarkable progress and now stands at the cusp of recovery, but it still remains highly vulnerable to shocks and policy missteps
Friday, November 27th 2009 - 08:36 UTC
Dubai’s financial health sends shock waves to world markets

European, Asian and Latinamerican shares have been hit by concerns over Dubai's financial health, after a government-owned company asked for an extension on repaying its debts.
Thursday, November 26th 2009 - 13:37 UTC
Argentina admits delay in bonds swap offer for holdouts

Argentina’s planned offer to swap as much as 20 billion US dollars of defaulted debt to help it re-enter international credit markets for the first time since 2001 may be delayed until January, admitted Economy Minister Amado Boudou.
Thursday, November 26th 2009 - 13:16 UTC
General Motors confirm plans to cut 9.000 jobs across Europe

Car giant General Motors has firmed up plans to cut 9,000 jobs across Europe, saying that up to 60% will be in Germany. Nick Reilly, a senior official of the US car maker, met employee representatives at a meeting in Germany to go through the firm's detailed plans for the future.
Thursday, November 26th 2009 - 05:28 UTC
Future algae bio-fuel production confirmed in southern Chile

United States corporation Bio Architecture Lab (BAL) has founded a subsidiary, BAL Chile, through which the company has already begun cultivating 100 hectares of seaweed on the island of Chiloé, with the aim of producing bio-fuel.
Wednesday, November 25th 2009 - 11:00 UTC
Argentina’s recovery will lag other regional countries, forecasts Roubini

Argentina's economy will lag other countries in the region, expanding between 2% and 2.5% next year and recovery will be “much slower” in the post 2008 crisis than in previous years when the country got used to rates of 6% to 7%, said economist Nouriel Roubini.