Economy

• Monday, December 22nd 2008 - 20:00 UTC

  Spanish companies secure Gibraltar PW contracts

  Chief Minister Peter Caruana has declared that the Gibraltar Government has adjudicated public works contracts to Spanish companies worth an estimated 200 million Euros.
  
  Mr Caruana was speaking at a meeting of Costa del Sol socialists in Malaga where he was the guest of Spain's former Secretary of State for Foreign Affairs Bernardino Leon, widely credited with being one of the intellectual instigators of the (UK, Spain, Gibraltar) Tripartite Forum.

• Monday, December 22nd 2008 - 20:00 UTC

  Rolls-Royce awarded engine contract for Sea King helicopters

  Rolls-Royce has been awarded a £258 million engine contract for the UK's fleet of Royal Navy and Royal Air Force Sea King helicopters over the next 10 years. One of them is permanently based in the Falkland Islands.

• Monday, December 22nd 2008 - 20:00 UTC

  China reacts to negative Nov: fifth rate cut in 3 months

  China cut interest rates for a fifth time in three months on Monday in its latest efforts to rev up the economy. The one-year lending rate will drop by 0.27 percentage points to 5.31% and the deposit rate by the same amount to 2.25%, the People's Bank of China said on its Web site.

• Sunday, December 21st 2008 - 20:00 UTC

  Latam's six year sustained growth grinds to a halt

  After six years of strong performance, Latin American and Caribbean economies will slow considerably next year as the global economic meltdown takes its toll on the region and unemployment rises, a United Nations agency for economic development announced last Friday.

• Sunday, December 21st 2008 - 20:00 UTC

  UK ministers consider £ 500 million loan to Jaguar Land Rover

  

  The British cabinet is weighing up a direct loan worth hundreds of millions of pounds to ailing car maker Jaguar Land Rover it was reported over the weekend in the London press. Business Secretary Lord Mandelson could approve a £500 million loan to the company, which employs around 15,000 people in the UK, the Sunday Times claimed.

• Saturday, December 20th 2008 - 20:00 UTC

  Big Three rescue loan brings relief but is no handout

  Citing imminent danger to the US economy, President Bush ordered Friday an emergency bailout of the US auto industry Friday, offering 17.4 billion USD in rescue loans and demanding tough concessions from the deeply troubled carmakers and their workers.

• Saturday, December 20th 2008 - 20:00 UTC

  Brazilian beef exports in November drop by 33%

  Brazil beef exports dropped 33% during November following a significant contraction in global demand because of the world recession, according to the industry.

• Saturday, December 20th 2008 - 20:00 UTC

  Global contraction in 2009, first time in decades says IIF

  The global economy likely will contract next year for the first time in decades as the credit crunch bites, according to the Institute of International Finance (IIF), a Washington-based association representing more than 375 of the world's major banks and financial institutions.

• Saturday, December 20th 2008 - 20:00 UTC

  Ecuadorean bankers concern about “financial stability”

  Members of Ecuador's private banking sector expressed concern Friday that recent government financial decisions and overall policies, together with the global crisis, are putting the country's financial system in jeopardy.

• Friday, December 19th 2008 - 20:00 UTC

  Uruguay's record wheat crop nightmare for farmers' pockets

  

  Uruguay expects this year its largest wheat harvest on record, 1.3 million tons including 900.000 for export, according to a report from the Agriculture Ministry Planning and Policies Office, OPYPA.