Economy

• Thursday, January 14th 2010 - 03:05 UTC

  UK economy could be crawling out of recession, according to latest data

  

  The UK economy grew in the fourth quarter of 2009 for the first time since the summer of 2008, according to forecasts published Wednesday.

• Wednesday, January 13th 2010 - 12:16 UTC

  Argentine central bank reserves dispute adds another player: New York Judge

  

  Argentina’s central bank reserves dispute suffered an expected escalation when on Tuesday Judge Thomas Griesa from New York State placed an embargo on Argentine central bank accounts held in the United States, following a lawsuit filed by investment funds (or “vulture funds”).

• Wednesday, January 13th 2010 - 08:26 UTC

  Chavez keeps his word and closes shops for price rises following devaluation

  

  Venezuelan government inspectors backed by soldiers have shut more than 70 shops in Caracas and other cities accused of trying to cash in on last week's currency devaluation. Soldiers have been on the streets to check prices as people queue to buy imports, fearing prices could rise.

• Wednesday, January 13th 2010 - 08:12 UTC

  US trade deficit jumps 10% and exports grow for seventh month running

  

  The United States trade deficit shot up nearly 10% to 36.4 billion US dollars in November, hitting a 10-month high, the Department of Commerce said on Tuesday. Demand for imports is growing, as the US economy slowly gets back on its feet.

• Tuesday, January 12th 2010 - 21:41 UTC

  China ups bank reserves and reiterates 2010 “moderate” credit growth policy

  

  China announced that banks will have to hold more cash in reserves to help cool the world’s fastest-growing major economy as a credit boom threatens to stoke inflation and create asset bubbles.

• Tuesday, January 12th 2010 - 04:29 UTC

  China’s foreign trade expands again becoming the world’s largest exporter

  

  China's exports rose 17.7% in December, state media have reported, suggesting the country has overtaken Germany as the world's largest exporter. The rise, compared to a year earlier, breaks a 13-month decline in trade as a result of the global downturn.

• Tuesday, January 12th 2010 - 01:28 UTC

  “Chile’s accession to OECD a major milestone”

  Chile signs up as the 31st member of the OECD (Organization for Economic Cooperation and Development) and its first member in South America on January 11. For Chile, this marks recognition of nearly two decades of democratic reform and sound economic policies. For the OECD, it is a major milestone in its mission to build a stronger, cleaner and fairer global economy.

• Monday, January 11th 2010 - 13:12 UTC

  Uruguay benefiting from Argentina’s constitutional showdown

  

  The constitutional showdown in Argentina triggered by President Cristina Fernandez de Kirchner attempt to fire Central Bank president Martin Redrado will benefit Uruguay that is poised to receive more investments from Argentine businessmen, according to Uruguayan financial sources quoted in the local media.

• Monday, January 11th 2010 - 13:05 UTC

  Argentina says that import licences saved over half a million jobs

  

  Argentina’s Production Ministry has revealed documents indicating that some 542,370 job posts were saved by the application of non-automatic import licences. Some 21,510 jobs were saved by anti-dumping measures, which led to the protection of 563,880 jobs through the prohibition of mass importation of low-cost products.

• Monday, January 11th 2010 - 12:41 UTC

  Budget emergency and draconian spending cuts in California

  

  The governor of California, Arnold Schwarzenegger, has unveiled deep spending cuts aimed at containing the state's 20 billion US dollars budget deficit. Spending on health, welfare, transport and the environment is to be reduced.