Economy

Thursday, September 18th 2008 - 21:00 UTC
Lula da Silva feels “sad” about W. Street “super intelligent”

Brazilian President Lula da Silva said on Thursday he has watched with “sadness” the collapse of Wall Street firms that made economic policy recommendations in emerging markets “as if they were the super intelligent and we were the poor souls”, according to Spanish news agency EFE.
Thursday, September 18th 2008 - 21:00 UTC
The Economist IU praises “impressive” Uruguayan economy

The Economist Intelligence Unit praised in Montevideo the achievements of the Uruguayan economy as “really impressive” but also cautioned that good times don't last for ever.
Thursday, September 18th 2008 - 21:00 UTC
Argentina en route to normalize links with external creditors

The Paris Club has welcomed Argentina's pledge to repay its full debt of 6.7 billion US dollars to the group of creditor nations. Discussions on how the repayment will be made are still ongoing, the group said.
Wednesday, September 17th 2008 - 21:00 UTC
“Financial bubble” of the last 25 years coming to an end

Billionaire investor George Soros has given his gloomiest assessment of the state of the US and world economies. Speaking with BBC business editor Robert Peston Soros said that the “acute phase” of the credit crunch may be over but effects on the real economy are yet to be felt.
Wednesday, September 17th 2008 - 21:00 UTC
US bails out AIG with 85 billion USD; takes 80% stake

In a bid to save financial markets and economy from further turmoil the United States government agreed Tuesday evening to provide an 85 billion US dollars emergency loan to rescue the huge insurer AIG.
Wednesday, September 17th 2008 - 21:00 UTC
Barclays interested in other Lehman Brothers assets and staff

Barclays PLC said Wednesday it may pick up some of Lehman Brothers assets and employees in Europe and Asia, on top of the British bank's deal to acquire key US operations from the failed investment bank.
Wednesday, September 17th 2008 - 21:00 UTC
UK sponsors consolidation of Lloyds TSB and HBOS

British bank HBOS confirmed it is in advanced talks with Lloyds TSB about creating a United Kingdom retail banking giant worth £30 billion. The UK government has also said it will overrule any concerns that competition authorities may raise, BBC Business Editor Robert Peston said.
Wednesday, September 17th 2008 - 21:00 UTC
World malnourished soar to 925 million with global food crisis

The way out of the global food crisis, which has plunged at least 75 million more humans into hunger and poverty, lies in increased agricultural production, FAO Director-General Jacques Diouf told Italy's Parliament on Wednesday.
Wednesday, September 17th 2008 - 21:00 UTC
US current account deficit increased 4.3% in second Q

United States current account trade deficit increased by 4.3% to 183.1 billion US dollars in the second quarter of this year, up from 175.6 billion in the first quarter, the US Commerce Department reported Wednesday.
Tuesday, September 16th 2008 - 21:00 UTC
Citibank report warns Uruguay about higher inflation risks

Uruguay's fiscal deficit will be double the government's targets for 2008 and 2009 “increasing risks” for the coming year (which happens to be an electoral year). Clearly “expansive” monetary and fiscal policies together with mounting pressure for higher salaries and an “overheated economy” will sustain “strong” inflationary pressures this year and in 2009.