Economy

Monday, December 8th 2008 - 20:00 UTC
World markets soar on Obama's infrastructure plan

United States shares echoed gains in stock markets worldwide on hopes that new stimulus plans in the US and other countries will revive global economic growth. The benchmark Dow Jones index on Monday was up 298 points or 3.5% in afternoon trading in New York, shrugging off Friday's grim unemployment numbers.
Monday, December 8th 2008 - 20:00 UTC
Argentine industry demands a more “competitive” Peso

In spite of the several stimulus programs announced by Argentine president Cristina Fernandez de Kirchner, manufacturers are demanding a “more competitive” exchange rate, particularly with the Brazilian Real. Brazil is Argentina's main trading partner.
Sunday, December 7th 2008 - 20:00 UTC
Brazilian inflation down but priorities are stimulus and jobs

Inflation in Brazil eased in November amid a slowing economy and dwindling consumer confidence reinforcing the view that the Central bank has room to hold interest rates next week for the second straight month. The Brazilian government is also expected to make further announcements to prop the economy and jobs.
Friday, December 5th 2008 - 20:00 UTC
Argentine plan to boost consumption and exports

Argentine President Cristina Fernandez de Kirchner unveiled Thursday a new set of measures to boost the economy including credits for the auto sector and consumption as well as a reduction in export duties on wheat and corn.
Friday, December 5th 2008 - 20:00 UTC
US jobless rate rises to 15-year high, and worsening

The US economy lost 533,000 jobs in November, the biggest monthly cut since 1974, the US Labour Department said on Friday. In a dramatic indication of the worsening economic situation, the US jobless rate rose to a 15-year high of 6.7% from 6.5% in October.
Thursday, December 4th 2008 - 20:00 UTC
Uruguay estimates 3% economic growth next year

Uruguay's economic team announced on Wednesday the government's estimates for the next twelve months admitting that the world recession will reach the country but growth rate in 2009 will be in the range of 3%, “above the average of the last fifty years”.
Thursday, December 4th 2008 - 20:00 UTC
UK has lowest rates in 57 years: 2%; retailers want more

The Bank of England cut interest rates on Thursday by one percentage point, from 3% to 2% - the lowest level since 1951. The move, which followed a dramatic cut in November, has been welcomed by many commentators who said the cut should help the slowing economy.
Thursday, December 4th 2008 - 20:00 UTC
ECB lowers rate to 2.5%, but cautions about further cuts

European Central Bank President Jean Claude Trichet said on Thursday cutting interest rates too low or too fast could leave policy makers with few options to respond to a deepening recession.
Wednesday, December 3rd 2008 - 20:00 UTC
Ten Latam countries concentrate 9.6% of world cellular lines

Ten Latinamerican countries concentrate 388 million cellular phone lines, which is equivalent to 9.6% of the world's total 4.02 billion on service according to a release from multinational consultants Everis.
Wednesday, December 3rd 2008 - 20:00 UTC
Chile's “Exponaval” expects to sponsor 500 m USD in deals

Chilean president Michelle Bachelet officially opened Tuesday in Valparaiso the 2008 edition of the Exponaval fair, South America's most important naval industries event with the participation of 32 foreign delegations and 130 companies and organizations linked to maritime activities.