Economy

Sunday, October 19th 2008 - 20:00 UTC
Strong confidence message from Latam central bankers

Latinamerican Central bank presidents and leading economists said on Sunday the region is well prepared to face growing global financial turbulence and agreed to share information on monetary and financial markets.
Sunday, October 19th 2008 - 20:00 UTC
Suspended death sentence for corrupt Beijing vice mayor

A former Beijing vice mayor in charge of overseeing Olympic construction projects has been given a suspended death sentence for corruption, a court said Sunday, in a stern warning to wayward Communist officials.
Friday, October 17th 2008 - 20:00 UTC
JPMorgan becomes US largest bank; displaces Citigroup

JPMorgan Chase & Co has become the largest US bank by assets surpassing long-time leader Citigroup Inc. On Thursday Citigroup Inc reported it ended September with 2.05 trillion US dollars of assets, while a day earlier JPMorgan led by Jaime Dimon, said it ended the month with 2.25 trillion US dollars.
Friday, October 17th 2008 - 20:00 UTC
Spain banks “strong and solvent”, no need for rescue plan

Spanish banks are strong and have solvency and do not need the government to take stakes in them, said Emilio Botin, the chairman of Spain's largest bank Santander.
Friday, October 17th 2008 - 20:00 UTC
Brazil and Mexico inject US dollars to sustain currencies

Brazil Central Bank announced on Thursday further measures to ensure liquidity and support the local currency Real. The bank expanded the list of securities it will accept to free up reserve requirements on term deposits and took new measures to ensure that banks that borrow from its discount window provide credit lines to exporters
Friday, October 17th 2008 - 20:00 UTC
Latam estimated to grow 3% in 2009, says IDB

Latinamerica will grow 3% in 2009, below the 4 to 4.5% forecasted for this year said on Friday the president of the Inter-American Development Bank (IDB) Luis Alberto Moreno.

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Friday, October 17th 2008 - 20:00 UTC
To ensure supply and price Asian steelers buy iron ore mines

A consortium of five Japanese steelmakers and a South Korean trading firm will invest 3.1 billion US dollars to acquire 40% of a Brazilian iron ore mining company Mineiros S.A. to secure supplies of iron ore, trading house Itochu Corp. announced Friday.
Friday, October 17th 2008 - 20:00 UTC
Czechs helping to reforest Torres del Paine devastated area

Chile's Forestry Corporation, Conaf is reforesting the 15.000 hectares from the world famous Torres del Paine national park in Chilean Pataogonia which were devastated by fire in February 2005, according to Punta Arenas La Prensa Austral.
Friday, October 17th 2008 - 20:00 UTC
Chilean Tierra del Fuego farm sold for 20 million USD

A long established traditional farm in Chilean Tierra del Fuego in the Timaukel area, has been sold “closed gate” to a group of Chilean investors for which they paid the equivalent of almost 20 million US dollars.
Friday, October 17th 2008 - 20:00 UTC
Brazil eases foreign currency credit to exporters

Brazil's central bank will offer credit lines in foreign currencies as of next week in a bid to ease a credit crunch afflicting the country's exporters, the bank's president, Henrique Meirelles announced on Friday.