Economy

• Tuesday, August 25th 2009 - 22:08 UTC

  Obama confirms nomination of Bernanke as head of the Federal Reserve

  

  President Barack Obama confirmed Tuesday that he has nominated Ben Bernanke for another term as chairman of the US central bank, the Federal Reserve. The president took a break from his summer holiday to make the announcement.

• Tuesday, August 25th 2009 - 15:12 UTC

  Uruguayan operators optimistic about the coming cruise season

  

  Uruguayan cruise operators believe the coming season could unveil some interesting surprises in spite of the global recession. The fall in value of the US dollar compared to the strength of the Euro and Latinamerican currencies could see a drastic change in the nationality of visitors with Europeans and Latinamericans compensating the US deficit.

• Tuesday, August 25th 2009 - 14:58 UTC

  Strike paralyzes container activities in Buenos Aires port

  

  Container shipments are paralysed in the port of Buenos Aires due to a union conflict that is causing huge losses, the Argentine press reported.

• Tuesday, August 25th 2009 - 14:49 UTC

  China rebounding but economy still “unstable” warns Premier Wen Jibabo

  

  Premier Wen Jiabao has warned that China is still facing various uncertainties ahead despite signs of economic recovery, saying the government will maintain the macro economic policies.

• Monday, August 24th 2009 - 11:28 UTC

  Brazil reaffirms influence in Bolivia and support for Evo Morales

  

  President Lula da Silva reaffirmed Brazil’s influence during his visit to Bolivia where he announced the opening of the Brazilian market to Bolivian textiles and extended a loan to build a leg of the bi-oceanic corridor which will eventually join Santos in the Atlantic with Iquique on the Pacific.

• Monday, August 24th 2009 - 10:56 UTC

  Release of data on US skyrocketing deficits will mark this week’s markets

  

  United States President Barack Obama's domestic policy proposals will face the reality of skyrocketing deficits on Tuesday when officials release two government reports projecting huge budget shortfalls over the next decade.

• Saturday, August 22nd 2009 - 11:15 UTC

  Markets react to Bernanke’s speech, but also warnings of over expectations

  

  World stock markets reacted positively after US central bank chief Ben Bernanke said the world's biggest economy was nearing the start of a recovery.
  “The prospects for a return to growth in the near term appear good,” Mr Bernanke told a conference in Wyoming.

• Friday, August 21st 2009 - 14:15 UTC

  Argentina warming up to resume dialogue and links with IMF

  

  Argentina's Economy Minister Amado Boudou has opened the door to re-establishing links with the International Monetary Fund, as he seeks to restore Argentina's access to international credit markets.

• Friday, August 21st 2009 - 14:01 UTC

  Argentine congress extends Kirchner’s special taxing powers

  

  Argentina’s Senate passed a bill extending President Cristina Fernandez de Kirchner’s authority to set export tax rates for one year, further angering farmers who have been confronted with the government for almost two years on the issue.

• Friday, August 21st 2009 - 13:24 UTC

  Minutes show Bank of England divided on cash injection

  

  Governor of the Bank of England Mervyn King wanted to pump more money into the UK economy this month but was outvoted by fellow policymakers. Minutes of the bank's Monetary Policy Committee (MPC) meeting on 6 August reveal that Mr King wanted £75bn rather than the £50bn that was injected