Economy

Wednesday, December 3rd 2008 - 20:00 UTC
Paraguay favours scrutinizing legality of foreign debt

Paraguay announced this week it has a “sincere” desire to study in depth “the origin and legality of its foreign debt” over the last decades, when the landlocked country was ruled by the Colorado party.
Wednesday, December 3rd 2008 - 20:00 UTC
Congress watchdog critical of US bail-out plan implementation

The 700 billion dollars bail-out of the US banking system is being carried out without adequate oversight, according to the General Accounting Office (GAO). The Congressional watchdog says that the US Treasury is failing to monitor whether banks have complied with requirements on executive pay.
Wednesday, December 3rd 2008 - 20:00 UTC
UK mortgage market receives £ 1 billion to stem repossessions

British Primer Minister Gordon Brown has moved to stem growing repossessions with a £1 billion package to allow struggling homeowners to defer mortgage payments for up to two years.
Tuesday, December 2nd 2008 - 20:00 UTC
Another black Monday for the stock markets calendar

Wall Street suffered one of its worst days Monday, slicing 680 points off the Dow Jones industrial average as fears of a recession, or even worse, were confirmed by the latest data. Not only did stocks end their last week's five-day winning streak, they erased more than half the gains and the Standard & Poor's 500 stock index one of the broadest market gauges, lost nearly 9%.
Tuesday, December 2nd 2008 - 20:00 UTC
Brazilian industrial production slides 1.7% during October

Brazilian industrial production fell in October as the global financial meltdown sent shock waves through Latin America's largest economy, the government said Tuesday.It was the largest drop since Decemeber 2006.
Tuesday, December 2nd 2008 - 20:00 UTC
Unemployment up is Spain: almost 3 million jobless

The number of people filing for jobless benefits in Spain soared to almost 3 million following a 6% rise in unemployment during November. The Labour Ministry said Tuesday that an additional 171,243 people signed on for unemployment benefits last month, bringing the total to 2.99 million.
Monday, December 1st 2008 - 20:00 UTC
Argentine industrial sector wants lower Peso to prop exports

Argentina's industrial sector is demanding that the government of President Cristina Fernandez de Kirchner lower the value of the peso to improve exports in a move to overcome the economic crisis.
Monday, December 1st 2008 - 20:00 UTC
Brazil's surplus up but volume of trade down in November

Brazil's trade surplus widened in November as imports fell by more than exports, the trade ministry said on Monday.
Monday, December 1st 2008 - 20:00 UTC
UK manufacturing slowdown continues to take hold

British manufacturing fell at a record pace in November as the slowdown continued to take hold, the latest figures have revealed.
Monday, December 1st 2008 - 20:00 UTC
World economy heading for first contraction since 1930, warns UN

United Nations said on Monday the world economy faces its worst downturn since the Great Depression. It expects world economic output to shrink by as much as 0.4% in 2009, due to a slump among developed countries - particularly the US and in Europe.