Economy

Friday, December 26th 2008 - 20:00 UTC
Lula da Silva signs bill creating sovereign wealth fund

Brazilian President Lula da Silva has signed a law creating a sovereign wealth fund to protect the country from the global financial crisis and help Brazilian companies boost trade and expand overseas.
Friday, December 26th 2008 - 20:00 UTC
Lan reduces air fuel surcharge and slashes fares

Chile's leading airline Lan and Sky Airlines have virtually eliminated the fuel surcharge in all domestic flights and slashed fares, in line with the falling prices of fuel, reports the Financial and Business section of Santiago's main daily El Mercurio.
Friday, December 26th 2008 - 20:00 UTC
FIG: Falklands-UK airbridge fares “unaffordable”

The fare structure of the air bridge linking the Falkland Islands with Britain will not be reconsidered according to British officials. Falkland Islands Government (FIG) considers the price of seats as “unaffordable”.
Friday, December 26th 2008 - 20:00 UTC
Industrial production in Japan drops record 8% in November

Official figures have revealed that Japanese manufacturing has dropped at its fastest rate on record, with companies closing factories and cutting jobs. Industrial output in Japan plummeted by a record 8% in November compared with the previous month.
Thursday, December 25th 2008 - 20:00 UTC
Economic woes and insecurity underlined in Queen's message

Britain's economic problems and the “insecurity” people are feeling in today's uncertain times were acknowledged by the Queen in her Christmas Day message.
Thursday, December 25th 2008 - 20:00 UTC
Wiesel foundation looses all assets to Madoff's Ponzi fraud

The Elie Wiesel Foundation for Humanity lost more than 15 million US dollars, nearly all of its assets, in the fraud scheme run by Wall Street financer Bernard Madoff, the fund said Wednesday in a short release.
Wednesday, December 24th 2008 - 20:00 UTC
UK economy shrank faster than expected during third quarter

The United Kingdom economy shrank faster between July and September than had previously been thought, official data showed. The Office for National Statistics (ONS) said it had contracted by 0.6% in the quarter - its previous estimate had been a contraction of 0.5%.
Wednesday, December 24th 2008 - 20:00 UTC
Madonna's Sticky & Sweet nets a gross 280 million USD

Madonna's triumphant Sticky & Sweet has ended with 2,350,282 people attending and a gross of over 280 million US dollars in ticket sales for 58 concerts. Madonna performed in Europe, United States, Canada followed by Mexico, Argentina, Chile and Brazil where her last show was on December 21.
Wednesday, December 24th 2008 - 20:00 UTC
Giant Wal-Mart could end up as Chile's main retailer

The world's largest department stores chain Wal-Mart Stores, Inc. announced it will launch a tender offer to acquire all of the issued and outstanding shares and American Depositary Shares of Chile's Distribución y Servicio D&S S.A.
Wednesday, December 24th 2008 - 20:00 UTC
Argentina reports lowest growth in five years in October

Argentina reported the lowest economic growth in more than five years in October as factories cut output because of waning sales and exports. The country's economic activity index expanded 5.2% in October compared to the same month a year ago and 0.1% over September.