Economy

Thursday, September 4th 2008 - 21:00 UTC
ECB admits inflation and low growth prospects will persist

With annual inflation rates likely to remain “well above levels consistent with stability” and the latest data confirming the “weakening of real GDP growth in mid 2008”, the European Central Bank, ECB, has left interest rates unchanged at 4.25%.
Thursday, September 4th 2008 - 21:00 UTC
Lamy confirms global trade talks posted to resume next week

The Doha round global trade negotiations will resume “at senior official level” next Tuesday announced World Trade Organization Director General Pascal Lamy on Thursday in Oslo.
Wednesday, September 3rd 2008 - 21:00 UTC
Venezuela private sector: inflation will reach 35% this year

Venezuela's business chambers, Fedecamaras warned that inflation this year will reach 33 to 35%, several points ahead of the latest government estimate, caused mainly because of insufficient production and supply.
Wednesday, September 3rd 2008 - 21:00 UTC
Airlines posted to loose USD 9.3 billion in 2008/09

The global airline industry is expected to post losses of 5.2 billion US dollars this year and another 4.1 billion in 2009, according to the International Air Transport Association (IATA). This year's losses are based on an average crude oil price of 113 US dollars per barrel and 140 US dollars for jet fuel.
Wednesday, September 3rd 2008 - 21:00 UTC
IMF agrees voluntary conduct code for sovereign funds

The International Monetary Fund (IMF) has agreed a voluntary code of conduct with sovereign wealth funds (SWF). The deal with 26 countries that run investment funds will be put to the IMF members at its October meeting.
Wednesday, September 3rd 2008 - 21:00 UTC
Euro zone economy contracts 0.2% in second quarter

The Euro zone economy (EU-15) contracted 0.2% in the second quarter compared to the previous three months according to the latest release from the Eurostat statistics office. As a consequence the Euro fell to its lowest in eight months to 1.4386 US dollars.
Wednesday, September 3rd 2008 - 21:00 UTC
Troubled icon US investment bank ready for takeover

Troubled US investment bank Lehman Brothers has several parties interested in buying into the cash strapped institution according to Wall Street analysts. These include the state controlled Korea Development Bank and Europe's biggest bank HSBC Holdings together with a Chinese bank.
Tuesday, September 2nd 2008 - 21:00 UTC
Eight months retail inflation in Uruguay reaches 6.98%

Consumer prices in Uruguay during August increased 1.02%, surprising private estimates. According to the monthly release from the country's Statistics Institute, INE, accumulated retail inflation in the first eight months of 2008 reached 6.98% and 7.26% in the last twelve months.
Tuesday, September 2nd 2008 - 21:00 UTC
Venezuelan oil will help South African gold production

South Africa and Venezuela sealed a major oil deal Tuesday during a visit by Venezuela's President Hugo Chavez, who touted it as an example of southern nations cooperating in a new strategic alliance.
Tuesday, September 2nd 2008 - 21:00 UTC
Pound at USD 1.785 and at record low against the Euro

The British pound has fallen to two-and-half-year low against the US dollar and record low against the Euro amid fears about the health of the UK economy.