Economy

Saturday, February 21st 2009 - 20:00 UTC
Neo-liberal paradigm collapsed” in 2008 says Uruguay

Uruguay's economy expanded 10.6% last year compared to 2007, said the government in an official state of the country address to Congress. The report also underlines that with the triggering of last year's international crisis, ”the neo-liberal (economic) paradigm collapsed”.
Friday, February 20th 2009 - 20:00 UTC
FBI tracks Sir Allen Stanford and finds him in Virginia

Virginia have served Texan billionaire Sir Allen Stanford with civil legal papers from the US financial watchdog, the SEC.
Friday, February 20th 2009 - 20:00 UTC
US Justice blocks consolidation of meat industry

Brazil's JBS, the world's largest beef producer and owner of JBS-Swift, said on Friday it had abandoned its attempt to takeover of US meat company National Beef Packing Company LLC.
Thursday, February 19th 2009 - 20:00 UTC
Five EU members in breach of 3% GDP deficit rule

The European Commission has taken disciplinary steps to tackle swelling budget deficits in six EU countries.
Thursday, February 19th 2009 - 20:00 UTC
Telecoms innovation, dynamo for global recovery says UN

The global financial crisis could provide entrepreneurial opportunities for budding information and communication technology (ICT) businesses, which in turn can power economic recovery, according to a new United Nations report.
Thursday, February 19th 2009 - 20:00 UTC
Stanford failure panic spreads to Peru and Venezuela

Peru and Venezuela have become the latest countries to intervene in local banks controlled by the Stanford group as it faces fraud accusations. Peru's securities regulator suspended local operations of the Stanford Financial Group for 30 days.
Thursday, February 19th 2009 - 20:00 UTC
Buenos Aires stock market downgraded to “frontier index”

MSCI Barra a leading stock market index provider has decided to remove Argentina from its emerging market index and place it in its frontier markets index. The frontier markets index contains stocks from countries considered not sufficiently developed to be eligible for MSCI Barra's emerging markets index.
Wednesday, February 18th 2009 - 20:00 UTC
IMF insists main immediate goal is to clean-up banks

The International Monetary Fund (IMF) has warned that global recovery efforts are being undermined by the presence of “toxic” assets on banks' balance sheets. IMF managing director Dominique Strauss-Kahn said in an interview to French radio France-Inter that this undercuts stimulus efforts by various governments.
Wednesday, February 18th 2009 - 20:00 UTC
UK annual inflation falls to 3% in Jan; deflation fears

A smaller-than-expected drop in inflation has failed to ease fears that the UK could soon be in the grip of deflation. The UK Office for National Statistics (ONS) data revealed a fall in the Consumer Prices Index (CPI) to 3% in January from 3.1% in December, which was far lower than experts had predicted.
Wednesday, February 18th 2009 - 20:00 UTC
Beijing wants closer political and trade links with Latam

Chinese Vice-president Xi Jinping currently in Venezuela, the fourth leg of a regional tour hailed the vigorous growth in relations between China and Latin America in recent years and described the pace of cooperation as “unprecedented”, according to reports from Beijing news agencies.