Economy

Friday, February 22nd 2008 - 21:00 UTC
The Argentine airline with no planes and which never flew

A fraud case involving an airline with managers, pilots, stewardesses, cabin crew, mechanics, ground crew, even a passengers complaint office butÃ¢€Â¦which has never taken off nor does it have aircrafts was filed Thursday at the office of an Argentine federal prosecutor in Buenos Aires.
Friday, February 22nd 2008 - 21:00 UTC
Brazil makes history: first time ever net foreign creditor

Brazil which for decades was the world's largest emerging-market debtor became a net foreign creditor for the first time in January according to a report released Thursday by the Central Bank in Brasilia.
Friday, February 22nd 2008 - 21:00 UTC
Euro zone forecast: less growth and higher inflation

Economic growth across the Euro zone will be lower in 2008 than estimated, while inflation will stay high, the European Commission has said. Brussels expects growth of 1.8% this year in the 15-nation Euro zone which is lower than its November estimate of 2.2%, and below the growth rate of 2.7% recorded in 2007.
Thursday, February 21st 2008 - 21:00 UTC
Fed forecasts less US growth and higher unemployment

The US Federal Reserve has slashed its growth forecast for the US economy and raised its forecast for unemployment. The Fed cut its growth forecast for this year by half a percent to a new range of between 1.3% and 2%. The US central bank also said the jobless rate could be as high as 5.3% by the end of the year.
Wednesday, February 20th 2008 - 21:00 UTC
OECD GDP growth slips from 0.9% to 0.5% in last quarter

Global economic growth is going to be lower than the OECD (Organization for Economic Co-operation and Development) and many other forecasting organizations were predicting just a few months ago, OECD chief Angel Gurria said on Wednesday.
Wednesday, February 20th 2008 - 21:00 UTC
Whiffs of global economic slowdown reach Latinamerica

The Latinamerica economic climate dropped to its lowest level since July 2005 because of the United States mortgage and banking situation according to the joint indicator from the University of Munich Economics Research Institute, Ifo and the Getulio Vargas Foundation from Brazil, FGV.
Tuesday, February 19th 2008 - 21:00 UTC
Soaring food prices contribute to China's record Jan inflation

Chinese inflation hit an 11-year high in January after rising price pressures were exaggerated by fierce snow storms, official figures show. Soaring food prices were largely blamed for pushing consumer inflation up to 7.1% last month, from 6.5% in December.
Monday, February 18th 2008 - 21:00 UTC
Argentina's 2007 foreign trade reached 100.7 billion dollars

Argentina's foreign trade last year reached a record 100.7 billion US dollars with a surplus of 11.154 billion US dollars according to the latest release from the Statistics and Census Institute, Indec.
Monday, February 18th 2008 - 21:00 UTC
Northern Rock PLC quagmire brings back nationalization oldie

Struggling bank Northern Rock PLC will be nationalized after the British government rejected two private takeover bids, Chancellor of the Exchequer Alistair Darling said Sunday. Darling told a news conference that the ailing mortgage lender would be placed under temporary public ownership because both private proposals had failed to meet the government's criteria for protecting taxpayers.
Monday, February 18th 2008 - 21:00 UTC
Subprime blues: Qatar sovereign fund buys into Credit Suisse

The Qatar Investment Authority purchases shares from Credit Suisse and is planning to invest up to 15 billion US dollars in European and US banks in the next twelve months, announced Monday Qatar Prime Minister according to Bloomberg News.