Economy

Tuesday, September 30th 2008 - 21:00 UTC
Argentina opens path to accord with bond holdouts

Argentina signed an agreement with three banks to attempt to restructure debts to sovereign bond holders who rejected a 2005 settlement over a historic default, the government announced Monday.
Tuesday, September 30th 2008 - 21:00 UTC
US Representatives extends benefits to Andean countries

The United States House of Representatives voted unanimously on Monday to approve a one-year extension of trade benefits for Colombia, Peru, Ecuador and Bolivia that expire at the end of the year.
Tuesday, September 30th 2008 - 21:00 UTC
Richest Latinamerican warns of financial crisis impact

Mexican billionaire Carlos Slim and Latinamerica's richest man is calling the current financial crisis the worst he has ever seen and anticipated it is going “to impact everybody”. It's a very difficult situation and it will affect all economies he added.
Tuesday, September 30th 2008 - 21:00 UTC
Brazil and Argentina markets suffer record day losses

Stock markets in Latinamerica crashed on black Monday 29, following the US House of Representatives rejection of the bi partisan bail out package which had been painfully stitched over the weekend.
Tuesday, September 30th 2008 - 21:00 UTC
Asian markets follow Europe, US and Latam in free fall

Japan's benchmark Nikkei stock index has fallen almost 5% in early Tuesday trading, hours after a US financial rescue plan failed to gain Congressional backing.

The US House of Representatives on Monday rejected a 700 billion plan aimed at bailing out Wall Street.
Monday, September 29th 2008 - 21:00 UTC
Pte. Lula blames US for turning “economy into casino”

Brazilian President Lula da Silva blamed the United States for the global financial crisis and said its financial bailout plan was unfair to poor people.
Monday, September 29th 2008 - 21:00 UTC
Tory party conference unveils plan to tackle financial crisis

Britain's opposition Conservatives unveiled in the Birmingham party conference their plan to tackle the financial crisis, accusing Prime Minister Gordon Brown of presiding over a debt-fuelled boom that has turned to bust.
Monday, September 29th 2008 - 21:00 UTC
Argentina budget “fails to consider” new global scenario

Argentine private consultants have warned that the 2009 budget bill fails to take into account the new international scenario and lacks a comprehensive approach to inflation, country risk and economic slowdown”.
Sunday, September 28th 2008 - 21:00 UTC
Spanish bank and UK government ready to take over B & B

Spanish bank Santander is on the brink of taking over the £20bn savings business of troubled bank Bradford & Bingley, the BBC has learned. Treasury officials and bankers are putting the final touches to a deal, says BBC business editor Robert Peston.
Sunday, September 28th 2008 - 21:00 UTC
Uruguay's trade deficit in 7 months reaches 1.2 b USD

Uruguay reported a trade surplus of 68.3 million US dollars after having accumulated 1.2 billion US dollars deficit in the first seven months of 2008, according to the country's Central Bank.