Economy

• Friday, March 28th 2008 - 21:00 UTC

  Uruguay: Inflation becomes “permanent challenge”

  

  Uruguayan Ministry of Economy admitted that inflation has become a “permanent challenge” demanding an “ongoing monitoring” of prices. Remarks follow the latest readjustment of fuel (2.4%) and bakery (14%) prices which have been influenced by the soaring values of oil and wheat.

• Thursday, March 27th 2008 - 21:00 UTC

  Millions of Asians in poverty because of agriculture neglect

  

  Chronic neglect of agriculture in Asia and the Pacific has left over 200 million people in extreme poverty amid rising prices for foodstuffs and despite robust growth in other sectors, according to a United Nations report released Thursday.

• Thursday, March 27th 2008 - 21:00 UTC

  Strong economy boosts Lula da Silva's support to 58%

  

  Support for Brazilian President Lula da Silva's administration jumped to its highest level 58%, riding on a strong economy which has helped boost wages and jobs, a public opinion poll showed on Thursday.

• Wednesday, March 26th 2008 - 21:00 UTC

  United States economic misery continues

  

  The US economy is continuing its economic downturn although it would be “premature” to officially declare a recession, the Organisation for Economic Co-operation and Development (OECD) has said.

• Wednesday, March 26th 2008 - 21:00 UTC

  Brazil, Spain's main destination of net investment in 2007

  

  Brazil became in 2007 Spain's second most important trade partner in the region (behind Mexico) and the main destination for Spanish net investments, according to official figures released this week in Madrid.

• Wednesday, March 26th 2008 - 21:00 UTC

  Trichet calls for bank transparency and infers no rate cuts

  

  The European Central Bank president Jean Claude Trichet anticipated “high inflation for a relatively longer period” than originally expected and defined growth outlook for the European Union a “unusually uncertain”.

• Wednesday, March 26th 2008 - 21:00 UTC

  Sao Paulo's “Nova Bolsa”, becomes world's third largest

  

  The merger of the Brazilian Bolsa de Valores de Sao Paulo and the futures Bolsa de Mercaderias & Futuros-BM&F SA confirmed the creation of the world's third-biggest publicly traded securities exchange and the largest in Latin America.

• Wednesday, March 26th 2008 - 21:00 UTC

  Rice prices become a ticking time bomb for Asian countries

  

  The spiral in rice world prices has become an extraordinary source of revenue for exporters Thailand and Vietnam but for the rest of Asian countries is a ticking time bomb that could lead to social chaos. Rice is the staple food for hundreds of millions in Asia and the Pacific basin.

• Wednesday, March 26th 2008 - 21:00 UTC

  Abu Dhabi and Qatar create 2 billion sovereign global fund

  The Managing Director of the Abu Dhabi government-owned International Petroleum Investment Co Ipic and Qatar Investment Authority (QIA) will invest 2 billion US dollars in a new fund for global acquisitions. Ipic and QIA will each spend 1 billion in the fund and investment will be leveraged to make best use of acquisition potential.

• Tuesday, March 25th 2008 - 21:00 UTC

  US financial officials “forgot to preach with the example”

  

  Unites States banking authorities and regulators who during the nineties recommended Latinamerica to closely monitor its financial system “apparently forgot to look at home and this has led to the current financial crisis”, said Uruguayan economist Enrique Iglesias