Economy

Wednesday, February 20th 2008 - 21:00 UTC
OECD GDP growth slips from 0.9% to 0.5% in last quarter

Global economic growth is going to be lower than the OECD (Organization for Economic Co-operation and Development) and many other forecasting organizations were predicting just a few months ago, OECD chief Angel Gurria said on Wednesday.
Wednesday, February 20th 2008 - 21:00 UTC
Whiffs of global economic slowdown reach Latinamerica

The Latinamerica economic climate dropped to its lowest level since July 2005 because of the United States mortgage and banking situation according to the joint indicator from the University of Munich Economics Research Institute, Ifo and the Getulio Vargas Foundation from Brazil, FGV.
Tuesday, February 19th 2008 - 21:00 UTC
Soaring food prices contribute to China's record Jan inflation

Chinese inflation hit an 11-year high in January after rising price pressures were exaggerated by fierce snow storms, official figures show. Soaring food prices were largely blamed for pushing consumer inflation up to 7.1% last month, from 6.5% in December.
Monday, February 18th 2008 - 21:00 UTC
Argentina's 2007 foreign trade reached 100.7 billion dollars

Argentina's foreign trade last year reached a record 100.7 billion US dollars with a surplus of 11.154 billion US dollars according to the latest release from the Statistics and Census Institute, Indec.
Monday, February 18th 2008 - 21:00 UTC
Northern Rock PLC quagmire brings back nationalization oldie

Struggling bank Northern Rock PLC will be nationalized after the British government rejected two private takeover bids, Chancellor of the Exchequer Alistair Darling said Sunday. Darling told a news conference that the ailing mortgage lender would be placed under temporary public ownership because both private proposals had failed to meet the government's criteria for protecting taxpayers.
Monday, February 18th 2008 - 21:00 UTC
Subprime blues: Qatar sovereign fund buys into Credit Suisse

The Qatar Investment Authority purchases shares from Credit Suisse and is planning to invest up to 15 billion US dollars in European and US banks in the next twelve months, announced Monday Qatar Prime Minister according to Bloomberg News.
Monday, February 18th 2008 - 21:00 UTC
Far East steelmakers agree to pay 65% more for iron ore

Japanese and South Korean steel mills have agreed to pay Brazilian miner Vale do Rio Doce 65% more for iron ore this year. Japan's Nippon Steel and South Korea's Posco said they would pay Vale 78.90 US dollars a ton from April.
Sunday, February 17th 2008 - 21:00 UTC
Soy displaces cattle as main farm activity in Argentina

Soy beans has become the main commodity of Argentina's rich farmland displacing other traditional industries such as cattle breeding and dairy farming, according to studies and statistics from the country's main breeders organization the Rural Society.
Friday, February 15th 2008 - 20:00 UTC
Fed admits outlook for US economy “has worsened”

United States Federal Reserve chief Ben Bernanke told Congress on Thursday that the US economic outlook had deteriorated but pointed out that the Fed will “act in a timely manner”.
Friday, February 15th 2008 - 20:00 UTC
US-Andean countries trade program extended ten months

A United States House of Representatives panel approved Thursday a ten month extension for a trade programme providing reduced tariffs for exports from the four Andean nations of Bolivia, Colombia, Ecuador and Peru.