Economy

Thursday, April 10th 2008 - 21:00 UTC
Yuan up 4.3% against US dollar in 2008; 18.3% since Jul 05

The Chinese currency broke this week the psychological benchmark of seven Yuan to the US dollar which could signal a change of policy in Beijing since a stronger currency should help fight inflation and makes food and energy prices cheaper.
Thursday, April 10th 2008 - 21:00 UTC
Brazilian companies doubled profits under Pte. Lula da Silva

Brazilian corporations from 21 different business sectors doubled their profits in the five years of President Lula da Silva administrations (2003/2007), according to information disclosed by Economatica consultants in Sao Paulo.
Thursday, April 10th 2008 - 21:00 UTC
World Bank warns about rising food prices and poverty

World Bank President Robert Zoellick called Thursday for a “New Deal” on global food policy to address hunger and emergency situations in developing countries such as Haiti because of rising food prices.
Wednesday, April 9th 2008 - 21:00 UTC
IMF forecasts one in four chance of global recession

International Monetary Fund (IMF) has said that the world economy will grow much more slowly in the next two years as a result of the credit crunch. In its latest economic forecast, the IMF says that world economic growth will slow to 3.7% in 2008 and 2009, 1.25% lower than growth in 2007.
Tuesday, April 8th 2008 - 21:00 UTC
Brazil supports soy expansion in spite of budding controversy

Brazil has become the world's second exporter of soy beans totaling 25.6 million tons in 2006/07 and one of the country's main sources of international income. But as in Argentina and other countries soy expansion is becoming controversial in spite of the fact the government expects the volume of production to keep expanding.
Tuesday, April 8th 2008 - 21:00 UTC
Chinese banks may now invest in US stocks and funds

Chinese banks may now invest their clients' money in United States stocks and mutual funds, China's banking regulator has said allowing them to diversify their portfolios at a time of increasing market volatility. The decision announced this week is also expected to help ease inflationary pressures in the world's fastest growing economy.
Tuesday, April 8th 2008 - 21:00 UTC
Brazil becomes EU top market in Latinamerica

Brazil has replaced Mexico as the European Union's top market in Latinamerica, according to a Latin Business Chronicle analysis of 2007 trade data from Eurostat. Meanwhile Latinamerica trade with the European Union continues to grow at faster levels than with the United States, the analysis shows.
Tuesday, April 8th 2008 - 21:00 UTC
Brazil admits it must recover EU confidence regarding beef

Agriculture minister Reinhold Stephanes admitted that Brazil must “recover the European Union confidence” regarding beef following the recent temporary suspension of shipments imposed by the 27 country block.
Tuesday, April 8th 2008 - 21:00 UTC
IMF blames credit crunch on “collective failure” & liquidity spiral

The International Monetary Fund has warned that potential losses from the credit crunch will reach 945 billion US dollars and could be even higher as losses are spreading from sub-prime mortgage assets to other sectors, such as commercial property, consumer credit, and company debt.
Monday, April 7th 2008 - 21:00 UTC
Chile cuts taxes to fight highest inflation in decade

Chile's consumer price index rose 0.8% in March, up from 0.4% in February, according to the latest release from the country's National Statistics Institute (INE). The March figure pushed 12-month inflation to 8.5%, up from the February 8.1%.