Economy

Thursday, July 31st 2008 - 21:00 UTC
Bush signs law to help homeowners and battered market

United States President George W. Bush signed Wednesday into law a bill designed to help struggling homeowners and prop up the battered US housing market. The new law creates a 300 billion US dollars rescue fund to help thousands of homeowners get cheaper loans.
Thursday, July 31st 2008 - 21:00 UTC
Governor declares New York economy officially in recession

New York governor David Paterson admitted the state economy was in recession and announced spending cuts to face a steep budget deficit due to declining tax revenues. Paterson said that he would ask the legislature to approve another 600 million US dollars cut in an emergency session.
Thursday, July 31st 2008 - 21:00 UTC
Argentine building industry declining tendency accelerates

Argentine construction activity fell the most in more than four years last month as faster inflation and a farmers strike threatened to undermine a five year running expansion of the economy.
Wednesday, July 30th 2008 - 21:00 UTC
Ecuador insists on deal to slash import tariffs on bananas

Ecuador, the world's top banana exporter, said it will insist that the European Union stick to a deal to slash import tariffs on bananas despite the collapse of world trade talks on Tuesday in Geneva.
Wednesday, July 30th 2008 - 21:00 UTC
Argentines remain uneasy about domestic markets

During the second quarter of this year, an estimated 8.5 billion US dollars left Argentina, double the worst quarter in 2007 and higher than the most negative of private forecasts, according to the latest information from the Argentine Central Bank.
Wednesday, July 30th 2008 - 21:00 UTC
Japan suspends Chilean pork imports as precaution

Chile has called the Japanese ambassador in Santiago to express concern over Tokyo's decision to suspend imports of Chilean pork allegedly for sanitary reasons, according to reports in the Chilean media.
Wednesday, July 30th 2008 - 21:00 UTC
Petrobras, Latam's second largest corp., says Goldman Sachs

Brazil's government managed oil and gas corporation Petrobras is among the world's top five energy sector leaders and is the second biggest company in Latin America, according to studies published by Goldman Sachs and by América-Economía magazine.
Wednesday, July 30th 2008 - 21:00 UTC
Ban calls collapse of Doha round trade as “disappointing”

United Nations Secretary-General Ban Ki-moon voiced on Wednesday disappointment at the collapse of the Doha round of trade liberalization negotiations, expressing concern over the effect of the breakdown of the talks on developing nations.
Wednesday, July 30th 2008 - 21:00 UTC
Argentine electricity rates hiked in July from 10 to 30%

Faced with energy shortages after years of minimum investment, neglected maintenance and frozen rates the Argentine government announced this week electricity hikes to the tune of 10 to 30% for residential customers, the first since 2002.
Tuesday, July 29th 2008 - 21:00 UTC
Right moment for Montevideo port to become regional hub

The recurrent conflicts in Brazilian ports are having a direct impact on River Plate maritime traffic but the situation could be overcome if Montevideo expands its facilities and becomes a hub for the region, according to maritime agents.