Economy

• 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.

• 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.