Economy

Thursday, December 6th 2007 - 20:00 UTC
Bank of England cuts rate to 5.5% on slow growth concern

The Bank of England announced Thursday a 25 points cut in the key interest rate from 5.75 to 5.5% following on fears of a slowing UK economy. The decision came as the BoE tried to strike a balance between rising inflation and further evidence that the housing boom is slowing and consumer confidence deteriorating.
Thursday, December 6th 2007 - 20:00 UTC
Bush announces plan to shield vulnerable homeowners

United States President George W Bush outlined plans on Thursday to freeze rates on sub-prime mortgages for five years to help people hit by the US housing market crisis.
Tuesday, December 4th 2007 - 20:00 UTC
South America ready to launch two major regional projects

Two major regional projects are scheduled to be launched on the second week of December in South America, designed to boost economic integration. Chile, Bolivia and Brazil will formally announce the start of construction work on the bi-oceanic corridor linking the three nations on December 11.
Tuesday, December 4th 2007 - 20:00 UTC
Uruguay plans re-purchase of bonds maturing before 2012

Uruguay announced the re-purchase of up to 500 million US dollars in international and domestic bonds in an operation that seeks to reduce its foreign currency debt and extend maturities.
Tuesday, December 4th 2007 - 20:00 UTC
Bush and Garcia hail approval of US/Peru free trade agreement

The United States/Peru free trade agreement on Tuesday cleared Congress and was ready for President George W. Bush signature, a victory for the US and Peruvian embattled leaders.
Tuesday, December 4th 2007 - 20:00 UTC
Chilean Central Bank has new president MIT educated

Chilean president Michelle Bachelet on Monday named economist José De Gregorio as the new president of Chile's Central Bank (BC). De Gregorio, currently the BC's vice president, will replace Vittorio Corbo, whose term expires on December 6.
Monday, December 3rd 2007 - 20:00 UTC
US Treasury Secretary optimistic about aid plan for homeowners

United States mortgage lenders and regulators are close to finalizing an aid plan for homeowners hit by the credit crunch, US Treasury Secretary Henry Paulson said on Monday during a housing conference in Washington.
Sunday, December 2nd 2007 - 20:00 UTC
Euro markets with “sufficient liquidity” until January, says ECB

The European Central Bank announced Friday it would continue to supply markets with sufficient liquidity until the end of the year to keep short term interest rates the closest possible to the reference rate.
Sunday, December 2nd 2007 - 20:00 UTC
World meat up 1% in 2007; Brazil main beef exporter

The United Nations Food and Agriculture Organization (FAO) published its bi-annual Food Outlook forecasting that world meat production during 2007 will reach 278.3 MMT, which is 1% above 2006.
Sunday, December 2nd 2007 - 20:00 UTC
Spanish investors moderately optimistic about 2008 Latam

Less growth, more inflation, tougher decisions than so far but nothing catastrophic is the 2008 forecast of Spanish businesses that have strong investments in Latinamerica and are planning to further expand their positions.