Economy

Thursday, April 17th 2008 - 21:00 UTC
FAO asks Latam for help to prevent high food prices

The governments of Latin America must act to prevent high global food prices from increasing malnutrition in the region, officials from the UN Food and Agriculture Organization warned this week in Brasilia.
Thursday, April 17th 2008 - 21:00 UTC
China becomes world's second exporter ahead of US

China overtook United States as the world's second exporter of goods in 2007, while Germany remains top of the ranking according to the latest data from the World Trade Organization, WYO.
Thursday, April 17th 2008 - 21:00 UTC
Merrill Lynch posts losses of 6.5 billion in first quarter

Merrill Lynch posted its third straight quarterly loss, its first of 2008, after more write-downs linked to the embattled credit markets. The world's largest brokerage lost 6.5 billion US dollars in write downs on subprime mortgages and other risky assets.
Thursday, April 17th 2008 - 21:00 UTC
Lula da Silva defends bio-fuels and attacks farm subsidies

Brazil's president Luiz Inacio Lula da Silva made an impassioned defense of bio-fuels rejecting that they are responsible for the recent rise in global food prices during the opening ceremony of a United Nations Food and Agriculture Organization, FAO, conference in Brasilia.
Thursday, April 17th 2008 - 21:00 UTC
Chilean Central Bank purchases help to prop US dollar

The dollar closed in Santiago money markets at 456.6 Chilean pesos on Thursday, up from 434.1 Chilean pesos a week ago. This rapid gain comes in the wake of Chile's Central Bank's announcement last week that it would buy 8 billion US dollars over the course of the year.
Wednesday, April 16th 2008 - 21:00 UTC
Mistrust climate in Argentine farmers and government dialogue

In a growing climate of mistrust Argentine farmers representatives and government officials agreed Tuesday to meet again Wednesday when they expect answers to several proposals, particularly an end to the temporary ban of wheat exports.
Tuesday, April 15th 2008 - 21:00 UTC
Argentine farmers cautious about talks with government

Argentine farmers' representatives and government officials agreed Monday on an agenda of specific issues to be addressed as of Tuesday by special technical joint committees in the Department of Agriculture, but were also cautious about how the situation evolves.
Tuesday, April 15th 2008 - 21:00 UTC
Brazil and Russia sign agreement to develop jet fighter

Brazil and Russia signed an agreement on Tuesday to jointly develop top-line jet fighters and satellite launch vehicles. Strategic Affairs Minister Roberto Mangabeira Unger said the agreement will lead to the development of fifth-generation jet fighters that are built using sophisticated engineering, such as composite materials, stealth technology and advanced radar.
Monday, April 14th 2008 - 21:00 UTC
US fourth largest bank looking for 7 billion cash injection

The United States fourth-largest bank Wachovia Corporation reported a 393 million US dollars loss in the first quarter and has been forced to cut its dividend and seek a 7 billion US dollar cash injection to make up its mortgage business.
Sunday, April 13th 2008 - 21:00 UTC
G7 ministers target financial sector and credit rating agencies

The G7 group of most industrialized nations, meeting in Washington, approved a plan Saturday aimed at easing the continuing crisis in the global credit markets.

Including calls for more oversight of financial firms and greater financial transparency, G7 members have committed themselves to its implementation