Economy

Monday, November 17th 2008 - 20:00 UTC
Crucial week for the survival of US auto industry

United States president-elect Barack Obama said all parties involved in the US auto industry should come together to formulate an economic survival plan.
Monday, November 17th 2008 - 20:00 UTC
Japan and Hong Kong officially accept they are in recession

Japan's economy has entered its first recession since 2001 after shrinking by 0.1% in the third quarter. The world's second-biggest economy had previous shrunk by 0.9% in the April to June quarter.
Monday, November 17th 2008 - 20:00 UTC
IMF calls for more funding to help with global recovery

The head of the International Monetary Fund says it will need more funding if it is to play a bigger role in aiding a global economic recovery.
Monday, November 17th 2008 - 20:00 UTC
Punta Arenas promotes rhubarb as an alternative crop

Magallanes Region is promoting rhubarb as an alternative crop for local small farmers and garden plots in the south of Chile where climate conditions are described ideal for the plant.
Monday, November 17th 2008 - 20:00 UTC
Magallanes economy recovers dynamism expands 4.7% in Q3

Magallanes Region in the extreme south of Chile had a positive performance of 4.7% in the third quarter of the year breaking with a sliding tendency since the huge methanol complex close to Punta Arenas was forced to cut production because of insufficient supply of Argentine natural gas.
Sunday, November 16th 2008 - 20:00 UTC
Uruguay meat exports in ten months totalled 1.3 billion USD

Uruguay meat exports totalled 1.3 billion US dollars until November 8, a 55% value increase over the same period a year ago, according to the latest statistics from the country's Meat Institute.
Sunday, November 16th 2008 - 20:00 UTC
Chinese industrial output hits 7-year low in October

China's industrial output hit a seven year low as the global economic slowdown continues to batter the world's fourth largest economy eroding demand for Chinese exports.
Sunday, November 16th 2008 - 20:00 UTC
Ecuador auditing sovereign bonds delays interest payments

Ecuadorian President Rafael Correa said Saturday that his government is invoking a 30-day grace period and has until December 15 to decide if it will make a 30.6 million USD interest payment on 2012 bonds due Saturday.
Sunday, November 16th 2008 - 20:00 UTC
Brown claims G20 backed his blueprint for combating crisis

British Prime Minister Gordon Brown claimed Saturday that world leaders had backed his blueprint for combating the global slowdown. He said they had agreed to “fiscal measures” to stimulate the economy - likely to mean increased government spending and cuts in taxes.
Sunday, November 16th 2008 - 20:00 UTC
G20 agrees financial reform agenda and free trade timetable

Global leaders at the G20 financial summit in Washington have pledged to work together to restore global growth. They said they were determined to work together to achieve “needed reforms” in the world's financial systems.