Economy

Wednesday, August 13th 2008 - 21:00 UTC
US surprises: trade deficit down; budget shortfall up

Good and bad news from United States: while the June trade deficit helped by strong farm and manufacture goods exports fell to an unexpected 56.8 billion US dollars, the July federal budget deficit soared to 102.8 billion pushed by the economic stimulus payments and more outlays to protect depositors from failed banks.
Wednesday, August 13th 2008 - 21:00 UTC
China targets stable growth with moderate higher inflation

A major Chinese government think-tank in Shanghai has proposed raising the country's inflation target for this year and next to 5 to 7%, from the current official target for this year of 4.8%, the official China Securities Journal said on Wednesday.
Wednesday, August 13th 2008 - 21:00 UTC
IMF to focus country surveillance on exchange rates impacts

The International Monetary Fund said on Tuesday it will enter talks with countries whose exchange rates do not reflect economic fundamentals and cause problems for other nations and the global economy.
Wednesday, August 13th 2008 - 21:00 UTC
Food prices in the UK soared 13.7% in the last twelve months

UK's annual rate of inflation rose to 4.4% in July, its highest level since records began in 1997. The 0.6% rise was also the biggest monthly change since records began and took the figure to more than twice the government's target.
Wednesday, August 13th 2008 - 21:00 UTC
Mercosur concerned with growing surge of Chinese imports

Argentina and Brazil have established a standing consultation round to monitor the strong increase in Chinese imports which is causing concern in both countries manufacturing sectors, according to Brazilian sources.
Tuesday, August 12th 2008 - 21:00 UTC
Official July inflation further impairs Cristina's image

Argentina's Statistics and Census Office, Indec, announced Monday that July consumer prices index reached 0.4%, below analysts' forecasts and market estimates, further deteriorating the credibility of President Cristina Fernandez de Kirchner administration.
Tuesday, August 12th 2008 - 21:00 UTC
World program to protect bees and help crop production

The United Nations Environment Programme (UNEP) announced that it will implement a new initiative to better protect bees, bats, birds and others that are essential to global crop production and biodiversity.
Tuesday, August 12th 2008 - 21:00 UTC
Uruguay plans to regulate area dedicated to soy

The Uruguayan government is planning to implement a program of permit-requests for the sowing of soybeans the coming season as part of a plan for the conservation of the soil sponsored by the Ministry of Agriculture and Livestock.
Tuesday, August 12th 2008 - 21:00 UTC
Kirchners' Argentina debt rating drops to Paraguay level

Argentina's foreign debt rating was cut Monday by Standard & Poor's from B+ to B, five levels below investment grade and in line with countries such as Jamaica and Paraguay. Concerns over slower economic growth, lower tax revenue and mounting investor mistrust in inflation data which erodes confidence in the government have been decisive for the new rating.
Monday, August 11th 2008 - 21:00 UTC
Argentina to buy 2008/98 bonds to help calm markets

The Argentine government announced the purchase of 2008 and 2009 bonds, --plus interest payments in advance-- in an effort to ease markets which have shown great anxiety over the political situation and economic slowdown of Argentina, particularly last week.