Economy

Thursday, October 30th 2008 - 20:00 UTC
Chile's stock market looses 9.57% in Oct.; Peso down 26% in 08

Chile's stock market climbed 1.93% on Thursday but finished the turbulent October 9.57% down. As with most global markets Chile's bounced back following on a better performance in Wall Street and the Sao Paulo Bovespa index.
Thursday, October 30th 2008 - 20:00 UTC
EU business and consumer confidence falls to 15-year low

Business and consumer confidence in the 15 nations of the Euro zone fell to a 15-year low in October, the European Commission said Thursday, as a credit crunch hits consumer spending and forces companies to shed jobs.
Wednesday, October 29th 2008 - 20:00 UTC
Latam markets follow on W. Street and Fed's expected cut

Major Latinamerican markets recovered strongly Tuesday as investors in the region and on Wall Street set aside worries about global recession to take part in a buying spree convinced that the Fed would announce further interest rate cuts on Wednesday.
Wednesday, October 29th 2008 - 20:00 UTC
Regional meeting of UN agencies in Latin America

Environmental cooperation, the impact of the global financial crisis on United Nations efforts to slash poverty and the role of women in tackling climate change will be on the agenda when Deputy Secretary-General Asha-Rose Migiro heads to Seoul for an official visit to the Republic of Korea (ROK).
Wednesday, October 29th 2008 - 20:00 UTC
Fed cuts rate to 1%; deflation could become major threat

The United States Federal Reserve cut on Wednesday the key interest rate from 1.5% to 1% in a widely expected move with the purpose of promoting “a return to moderate economic growth”.
Wednesday, October 29th 2008 - 20:00 UTC
Companies sign code of conduct committed to online free speech

Microsoft, Google and Yahoo have signed a global code of conduct promising to offer better protection for online free speech and against official intrusion. The Global Network Initiative follows criticism that companies were assisting governments in countries like China to censor the Internet.
Tuesday, October 28th 2008 - 20:00 UTC
UK calls on China and Gulf states to boost IMF resources

British Prime Minister Gordon Brown called on Tuesday for an increase in funding of the International Monetary Fund (IMF) to cut the risk of “financial contagion” and said China and oil-rich Gulf states should make the bulk of the contributions.
Tuesday, October 28th 2008 - 20:00 UTC
Markets alone can't ensure housing for all, says UN

The mortgage crisis that is at the heart of the current financial turmoil reflects “fundamental” flaws in the way countries approach housing, and highlights the danger in thinking that markets alone will ensure adequate housing for all, said an independent United Nations human rights expert.
Tuesday, October 28th 2008 - 20:00 UTC
Income inequality since 2000 has risen in US and Germany

The gap between rich and poor in most wealthy nations has widened, revealed the Organization for Economic Co-operation and Development (OECD). Across the 24 OECD countries where data was available, the cumulative rise in inequality was 7% over the past 20 years, the Paris-based group said. But this was not as large a rise as had been expected, it said.
Monday, October 27th 2008 - 20:00 UTC
Uruguay admits “modest” impact from global slowdown

The Uruguayan government admitted it expects growth to slow down as a consequence of the international financial crisis which is spreading to the real economy as demand retracts in the main world blocks.