Economy

Wednesday, November 25th 2009 - 05:06 UTC
Bank of England emergency loans at height of crisis peaked £ 61.6 billion

Emergency loans to Royal Bank of Scotland (RBS) and HBOS peaked at £61.6 billion at the height of the financial crisis, the Bank of England has said. The Bank revealed for the first time the details of its Emergency Liquidity Assistance (ELA) to both banks in a submission to the Treasury Select Committee.
Wednesday, November 25th 2009 - 04:42 UTC
Colombia/Ecuador re-establish trade relations after 21 months

Ecuador and Colombia formally established this week ties at trade representation level, official sources said in Quito and Bogotá. The two governments announced that “full normalization” will take place when the so called “sensitive” issues have been addressed and solved.
Wednesday, November 25th 2009 - 04:37 UTC
Brazil plans to export 168 billion USD in 2010

Brazil targets exports of 168 billion US dollars for 2010 (compared to 160 billion USD in 2009) announced Deputy Trade Minister Welber Barral during the opening of a foreign commerce forum in Rio do Janeiro.
Tuesday, November 24th 2009 - 13:06 UTC
Capital inflows in Brazil cause unease; G20 considers regulations

Brazil does not rule out new steps to slow gains in its currency, the Real, even as the government evaluates the impact of a recently imposed tax on capital inflows, Secretary of Economic Policy Nelson Barbosa said in an interview on Monday.
Tuesday, November 24th 2009 - 03:41 UTC
Spain prepares to announce radical reforms while “economy begins recovery”

Spanish president Jose Luis Rodríguez Zapatero said Monday that the country’s “economic recovery” has started and all indicates that the rhythm will accelerate.
Monday, November 23rd 2009 - 11:03 UTC
Tough guidelines to protect quality and origin of Scotch whisky

New guidelines to protect whisky from foreign imitation, including new rules on labelling and bottling, are coming into force in Scotland on Monday. There will be a new requirement to only bottle Single Malts in Scotland, and tighter rules on the use of distillery names on bottle labels.
Saturday, November 21st 2009 - 05:50 UTC
Latinamerican poor to reach 189 million (9 million more) because of recession

The current global crisis will cause the number of poor people in Latin America to rise by nine million to 189 million this year, the UN Economic Commission for Latin America and the Caribbean (CEPAL) said in a report presented in Santiago de Chile.
Friday, November 20th 2009 - 11:55 UTC
“Lack of political stability” weighs on Argentina’s credit ratings

Contentious politics and a lack of political stability are the main factors weighing on the outlook for Argentina's credit ratings, Moody's Investors Services said on Thursday.
Friday, November 20th 2009 - 11:52 UTC
US banks “too big to fail” could be dismantled under new legislation

A key US House of Representatives committee has voted to give the government the power to take apart banks that are “too big to fail”. The bill would give a proposed new council of regulators the right to dismantle firms whose scale could hurt the economy - even if they are healthy.
Friday, November 20th 2009 - 11:49 UTC
US construction industry and housing market remain stagnant

Construction of new homes in the United States fell sharply last month, showing potential weakness in the economy's recovery, while consumer prices rose slightly more than expected.