Economy

Monday, October 13th 2008 - 20:00 UTC
China record trade surplus but exports growth rate slower

China's trade surplus widened to a record 29.3 billion US dollars in September as exports withstood the global economic slowdown and falling commodity prices reduced the import bill.
Monday, October 13th 2008 - 20:00 UTC
IMF: now to work on limiting damage to real economy

Coordinated global action is starting to reverse the tide of the financial crisis, but governments also need to “deploy all instruments” to limit damage to the real economy, IMF Managing Director Dominique Strauss-Kahn told world financial leaders meeting in Washington.
Monday, October 13th 2008 - 20:00 UTC
Argentina blames IMF for poor supervision in rich countries

Argentina's Economy Minister Carlos Fernández, not known for his loquacity, spoke at large about the international financial market meltdown during the IMF and World Bank annual assemblies in Washington.
Monday, October 13th 2008 - 20:00 UTC
Lula da Silva hails Brazil's solid financial position

The days when emerging economies were depended on the International Monetary Fund, IMF “are over” and so are over the days when Latinamerica had no voice in international affairs, said Brazilian president Lula da Silva in Spain.
Sunday, October 12th 2008 - 20:00 UTC
Talks to consolidate US automakers GM and Chrysler

The Unites States automobile giants General Motors and Chrysler are in talks about a possible merger, according to reports in the US media. Apparently talks have been going on for a month but details of the deal are not clear and neither party has made any direct official comments.
Sunday, October 12th 2008 - 20:00 UTC
Economic reforms for rural China include land transfer and rent

China's Communist Party leaders agreed on a package of rural reforms that could shape the country's economic policy over the coming years. A four-day enclave including President Hu Jintao had approved “major issues” on reform, Xinhua news agency said.

No details were given but it is thought farmers will now have more power to transfer or rent out their land.
Sunday, October 12th 2008 - 20:00 UTC
IMF hails G7 accord as “first big success in coordination”

World financial leaders endorsed on Sunday an action plan announced by the seven leading advanced economies to combat the international financial crisis in what IMF Managing Director Dominique Strauss-Kahn called the “first big success in coordination” to halt the downward spiral in world markets and support the global financial system.
Saturday, October 11th 2008 - 21:00 UTC
IMF: Latam must ensure liquidity and price stability

Latin America's governments will have to watch carefully their financial systems liquidity and try to ensure gains in eliminating inflation, said on Friday Anoop Singh, the International Monetary Fund Director for the region.
Friday, October 10th 2008 - 21:00 UTC
Brazil expects record crop but profit margins are down

Brazilian Agriculture Minister Reinhold Stephanes anticipated a “record 2008/09 grain crop” close to 144.5 million tons which would mark a new record, and discarded that the global financial crisis would have an impact on agriculture on the short term.
Friday, October 10th 2008 - 21:00 UTC
Russian and eBay solutions for bankrupt Iceland

In a surprise move, which reverberated across the international community, Russia issued a four billion Euro state loan to Iceland. The statement on Russia's central bank website reads that the loan maturing in three-four years and an interest rate as low as 30-50 basis points above Libor has been given the green light by Prime Minister Vladimir Putin.