Economy

Sunday, December 7th 2008 - 20:00 UTC
Brazilian inflation down but priorities are stimulus and jobs

Inflation in Brazil eased in November amid a slowing economy and dwindling consumer confidence reinforcing the view that the Central bank has room to hold interest rates next week for the second straight month. The Brazilian government is also expected to make further announcements to prop the economy and jobs.
Friday, December 5th 2008 - 20:00 UTC
Argentine plan to boost consumption and exports

Argentine President Cristina Fernandez de Kirchner unveiled Thursday a new set of measures to boost the economy including credits for the auto sector and consumption as well as a reduction in export duties on wheat and corn.
Friday, December 5th 2008 - 20:00 UTC
US jobless rate rises to 15-year high, and worsening

The US economy lost 533,000 jobs in November, the biggest monthly cut since 1974, the US Labour Department said on Friday. In a dramatic indication of the worsening economic situation, the US jobless rate rose to a 15-year high of 6.7% from 6.5% in October.
Thursday, December 4th 2008 - 20:00 UTC
Uruguay estimates 3% economic growth next year

Uruguay's economic team announced on Wednesday the government's estimates for the next twelve months admitting that the world recession will reach the country but growth rate in 2009 will be in the range of 3%, “above the average of the last fifty years”.
Thursday, December 4th 2008 - 20:00 UTC
UK has lowest rates in 57 years: 2%; retailers want more

The Bank of England cut interest rates on Thursday by one percentage point, from 3% to 2% - the lowest level since 1951. The move, which followed a dramatic cut in November, has been welcomed by many commentators who said the cut should help the slowing economy.
Thursday, December 4th 2008 - 20:00 UTC
ECB lowers rate to 2.5%, but cautions about further cuts

European Central Bank President Jean Claude Trichet said on Thursday cutting interest rates too low or too fast could leave policy makers with few options to respond to a deepening recession.
Wednesday, December 3rd 2008 - 20:00 UTC
Ten Latam countries concentrate 9.6% of world cellular lines

Ten Latinamerican countries concentrate 388 million cellular phone lines, which is equivalent to 9.6% of the world's total 4.02 billion on service according to a release from multinational consultants Everis.
Wednesday, December 3rd 2008 - 20:00 UTC
Chile's “Exponaval” expects to sponsor 500 m USD in deals

Chilean president Michelle Bachelet officially opened Tuesday in Valparaiso the 2008 edition of the Exponaval fair, South America's most important naval industries event with the participation of 32 foreign delegations and 130 companies and organizations linked to maritime activities.
Wednesday, December 3rd 2008 - 20:00 UTC
“Technical recession” forecasted for Brazil early 2009

The Brazilian economy could suffer a contraction during two consecutive quarters at the end of 2008 and beginning of 2009, thus suffering a “technical recession” according to a report form Morgan Stanley released in New York.
Wednesday, December 3rd 2008 - 20:00 UTC
German auto industry heading for worst year since 1990

The German auto industry's leading trade group said Wednesday it expects 2009 car sales to be the worst since the reunification of the country in 1990 as the global financial crisis takes its toll on consumers and economic growth.