Economy

• Saturday, April 26th 2008 - 21:00 UTC

  Uruguay acts to contain US dollar fall in local market

  

  Uruguay announced a package of measures to contain the effects of a collapsing US dollar in the local money market and to combat inflation. The local currency, Uruguayan peso, has appreciated almost 7% against the US dollar in the first four months of 2008 and has dropped to June 2002 levels which has caused concern among the country's exporters.

• Friday, April 25th 2008 - 21:00 UTC

  Kirchner inflation index for March 1%; Argentina's CPI 4.2%

  

  Two Argentine provinces, which are out of the Kirchners' political influence, have reported monthly inflation almost four times the official percentage, according to the latest releases from the Statistics and Census Office in Buenos Aires and its branches in Santa Fe and San Luis.

• Thursday, April 24th 2008 - 21:00 UTC

  Latam forecasted to expand 4.7% in 2008; Argentina 7%

  Latin America's economy will grow at 4.7% in 2008 compared with 5.7% last year, the United Nations Latin American and Caribbean Economic Commission, CEPAL, estimated this week, reaffirming growth targets trimmed in March.

• Wednesday, April 23rd 2008 - 21:00 UTC

  Rice prices soar on fears Thailand could ban exports

  Rice prices have ballooned to fresh heights in Asian trade amid concern that export bans by key producing countries will hit supply. Curbs are in place in India and Vietnam to protect domestic supply and there are fears that Thailand, the world's largest producer, could follow suit.

• Tuesday, April 22nd 2008 - 21:00 UTC

  UK £ 50 billion plan to help financial system

  British Chancellor of the Exchequer Alistair Darling supported on Monday the Bank of England's £50bn plan to help prevent the credit crisis causing more damage to the UK banking system.

• Monday, April 21st 2008 - 21:00 UTC

  Singapore warns of worst world recession in 30 years

  

  Singapore's GIC, one of the biggest sovereign wealth funds, warned on Monday the world could be facing its worst recession in 30 years and that financial markets would be highly volatile.

• Monday, April 21st 2008 - 21:00 UTC

  US banks report more write downs and hunt for fresh funds

  

  US banks continue in turmoil reporting lower profits, write-downs and hunting for fresh funds Bank of America reported a 77% drop in profits in the first three months of 2008, hit by trading losses and a 6 billion write-down to cover bad loans. National City Corporation from the Midwest admitted it was looking for 7 billion US dollars.

• Saturday, April 19th 2008 - 21:00 UTC

  UK's second bank shareholders asked to inject cash

  

  Britain's second largest bank, Royal Bank of Scotland, is to ask shareholders for about £10 billion of extra cash to improve its financial position, reports BBC.

• Saturday, April 19th 2008 - 21:00 UTC

  Citigroup losses: when bad news becomes good news

  

  New York based Citigroup has suffered a second massive loss and is cutting 9,000 jobs as the credit crisis continues to take its toll on the biggest US bank.

• Friday, April 18th 2008 - 21:00 UTC

  Aerolineas could be returning to the “Argentine fold”

  

  The Spanish tourism operator Marsans which has a majority stake in Aerolineas Argentinas announced in Buenos Aires the intention of making the flag air carrier “ever more Argentine”, and simultaneously taking advantage of the expertise and opportunities the Spanish group can offer.