Economy

Tuesday, November 20th 2007 - 20:00 UTC
Trichet cautiously optimistic on global growth prospects

The chairman of the G10 group of central bankers Jean-Claude Trichet was optimistic on Monday about prospects for global growth even though he conceded that the risks remain listed to the downside.
Tuesday, November 20th 2007 - 20:00 UTC
World markets plunge on Goldman Sachs downgrading Citibank

Global markets slumped Monday amid fears over the fallout of the credit crisis, after Goldman Sachs downgraded Citibank and forecast 15 billion US dollars in losses from the US subprime market.
Monday, November 19th 2007 - 20:00 UTC
China pledges to act on trade imbalances and the Yuan

Chinese Premier Wen Jiabao pledged Monday to resolve trade imbalances after the country's surplus hit a record high in October and work to let the Yuan move more freely.
Monday, November 19th 2007 - 20:00 UTC
Beijing asks banks to “strictly control” granting new loans

China's banking regulator has ordered commercial banks to “strictly control” the granting of new loans for the rest of the year in an attempt to prevent overshooting this year's lending growth target and overheating the world's fourth economy.
Friday, November 16th 2007 - 20:00 UTC
Argentine economic activity keeps advancing at over 8%

As had been anticipated earlier in the week economic activity in Argentina expanded 9.1% in September compared to a year ago, accumulating 8.5% in the first nine months of 2007, according to a Thursday release from the Statistics and Census Institute, Indec.
Friday, November 16th 2007 - 20:00 UTC
Argentina hikes fuel export taxes to ease domestic prices

Argentina's government announced Thursday it will raise taxes on the country's gasoline and petroleum exports and their derivatives in an effort to contain domestic fuel prices.
Friday, November 16th 2007 - 20:00 UTC
Paulson forced to act says US supports “a strong dollar”

A “strong' US dollar is in the US interest and it 'goes without saying' that the currency's value should be set by currency markets”, US Treasury Secretary Henry Paulson said on Friday ahead of this weekend's G20 meeting in South Africa.
Friday, November 16th 2007 - 20:00 UTC
Chinese markets prepare for tighter and costlier credit

Chinese spending on factories, roads and other fixed assets has risen by 27% this year suggesting official efforts to restrain the economy are failing and a new hike in interest rates can be expected.
Thursday, November 15th 2007 - 20:00 UTC
Fed promises more regular information and less secrecy

The US Federal Reserve will make four economic forecasts each year, up from the current two, which will include more information on overall inflation projections, chairman Ben Bernanke said Wednesday.
Thursday, November 15th 2007 - 20:00 UTC
Beijing confirms US dollar as the leading global currency

The US dollar will remain the main currency for China's massive foreign reserves despite earlier suggestions that the weakening greenback weighed too heavily, a senior Chinese central bank official said here Wednesday.