Economy

Monday, November 24th 2008 - 20:00 UTC
APEC Lima summit pledges open markets and free trade

The 21 economies, which represent almost two thirds of the world's GDP pledged during a two-day summit in Lima, Peru not to erect new protectionist barriers for the next year, and to re-launch stalled World Trade Organization talks.
Monday, November 24th 2008 - 20:00 UTC
Asean and Mercosur explore possible trade expansion

Asean and Mercosur representatives are meeting Monday in Brasilia to explore new venues of promoting trade and investments according to a release from the Brazilian Foreign Affairs ministry. This is the first time the two blocks as such meet.
Monday, November 24th 2008 - 20:00 UTC
UK pre-budget report: VAT down two points; record borrowing

Britain's Chancellor Alistair Darling has cut VAT but taken borrowing to record levels in moves he says are needed to save the UK from a deep and long-lasting recession. Top earners also face more tax and all National Insurance contributions will rise, he said in his pre-Budget report.
Sunday, November 23rd 2008 - 20:00 UTC
Apec: Bush defends free trade agreement

George Bush, the outgoing US president, has continued his defence of free market ideology, despite widespread criticism of it being behind the global economic crisis.
Saturday, November 22nd 2008 - 20:00 UTC
Before Peruvian congress China promises aid to Latam

Chinese President Hu Jintao offered his nation's economic muscle to help Latin America weather global economic turmoil, in a speech on Thursday in Peru that marked another step in Beijing's campaign to raise its profile in the region.
Friday, November 21st 2008 - 20:00 UTC
Chile's balanced budget threatened by less copper surplus

Plummeting prices for copper and molybdenum, Chile's main exports, are expected to have a negative impact on the country's finances and for the first time in six years, in 2009, the country could end with a budget deficit.
Friday, November 21st 2008 - 20:00 UTC
OECD 3Q GDP declined 0.1%, first time in 7 years

Gross domestic product (GDP) in the Organization for Economic Cooperation and Development OECD area declined by 0.1% in the third quarter of 2008, the first fall in seven years, according to preliminary estimates.
Friday, November 21st 2008 - 20:00 UTC
RBS shareholders vote on £ 20 billion bail out plan

Shareholders in Royal Bank of Scotland are to vote on a £20 billion bail-out plan which could put nearly 60% of the company in public hands. RBS, one of the worst hit by the banking turmoil, has called a general meeting in Edinburgh to approve the rescue.
Friday, November 21st 2008 - 20:00 UTC
CAP reform cuts subsidies, liberalizes dairy market

European Union farm ministers have agreed to reform agricultural policy by shifting more subsidies away from production and liberalising the dairy market. The deal on reforming the Common Agricultural Policy came on Thursday after marathon all-night talks.
Friday, November 21st 2008 - 20:00 UTC
World economic confidence index falls to 20-year low

A world economic confidence index released Thursday dropped to its lowest level in 20 years amid further news of heavy losses on global markets and an ongoing crisis among the world's carmakers.