Economy

Tuesday, January 20th 2009 - 20:00 UTC
Controversy over latest UK banks rescue plan; shares plunge

The UK government's latest plan to counter the economic downturn by encouraging lending has been criticised, and sent banks' shares tumbling. Opposition MPs argued that the government's measures were inadequate and too many details remained unknown.
Tuesday, January 20th 2009 - 20:00 UTC
Economy shadows immigration in US Hispanics' agenda

The economy, education and health care are the main issues that Hispanics feel must be attended to by the new US president, but they place immigration in sixth place, according to a study from The Pew Hispanic Centre.
Tuesday, January 20th 2009 - 20:00 UTC
Venezuela: “surplus” development funds or magic accounting?

Venezuelan president Hugo Chavez has announced the transfer of over 12 billion US dollars from “surplus” Central Bank international reserves to help finance government projects and keep the economy growing.
Tuesday, January 20th 2009 - 20:00 UTC
Paraguay requesting 300 million USD to finance 2009 budget

Mercosur weakest member, landlocked Paraguay will be appealing for funds from multilateral organizations to balance this year's budget, announced Finance minister Dionisio Borda.
Tuesday, January 20th 2009 - 20:00 UTC
Uruguay meat exports down 33% during January

Uruguayan meat export revenue in the first half of January totalled 17 million US dollars, down 33% from the same period a year ago, according to the latest report from the country's Meat Board, INAC.
Tuesday, January 20th 2009 - 20:00 UTC
British banking sector suffers devastating share losses

The bloodbath in the British banking sector continued apace on Tuesday as Lloyds Banking Group joined Royal Bank of Scotland in suffering further devastating share losses.
Tuesday, January 20th 2009 - 20:00 UTC
Record December inflation fall opens the way for deflation

United Kingdom deflation fears were heightened after official figures released on Tuesday showed the annual rate of inflation fell at its fastest pace in December since the recession of the early 1990s.
Monday, January 19th 2009 - 20:00 UTC
UK unemployment forecasted to soar to 3.4 million

The United Kingdom unemployment will soar to 3.4 million as the financial crisis deepens, experts predicted ahead of official figures set to show the scale of the jobs crisis rocking the economy.
Monday, January 19th 2009 - 20:00 UTC
Euro zone economy in recession will begin to recover in 2010

The Euro zone economy will shrink 1.9% in 2009 and grow by only 0.4% n 2010, the European Commission has forecast. The Commission said in a statement that the whole European Union was facing a “deep and protracted recession”.
Monday, January 19th 2009 - 20:00 UTC
Arab economic summit in Kuwait to address global recession

The global economic crisis has cost Arab countries 2,500 billion US dollars in the last four months alone, according to Kuwait's foreign minister.