Economy

Sunday, January 27th 2008 - 20:00 UTC
IMF suggests more regulation to address financial imbalances

International Monetary Fund Director General Dominique Strauss-Kahn called for a serious “response” to the risk of a United States recession and encouraged fiscal stimulus programs in some countries warning that monetary policy “is not enough”. He also supported more multilateral regulation.
Thursday, January 24th 2008 - 20:00 UTC
Global unemployment set to increase this year syas ILO

Economic turbulence largely due to credit market turmoil and rising oil prices could spur an increase in global unemployment by an estimated 5 million persons in 2008, the International Labour Office (ILO) said Thursday in its annual Global Employment Trends report (GET).
Friday, January 18th 2008 - 20:00 UTC
Argentina's primary surplus in 2007 “about 3.2% of GDP”

Argentina reported a monthly primary budget deficit for the first time in three years pushed by higher social security spending and subsidized loans for small businesses.
Thursday, January 17th 2008 - 20:00 UTC
South America's soy and sunflower crops below expectations

World soybean supplies are smaller than expected and high exports are cutting stocks in key producing countries, Hamburg-based oilseeds analysts Oil World said.
Thursday, January 17th 2008 - 20:00 UTC
Fidel: Argentina and Brazil “life-jackets” for Latam economy

Cuban leader Fidel Castro, who remains in a convalescent state hospitalized in Havana because of gastrointestinal problems, wrote an essay which became public yesterday where he stated that Argentina and Brazil could “be the life-jackets” of the Latin America region's economy, because of their production of meat and cereals.
Thursday, January 17th 2008 - 20:00 UTC
KO Merrill Lynch rescued by Kuwait, Korea, Saudi & others

Wall Street banking giant Merrill Lynch unveiled on Thursday a huge net loss of 7.8 billion US dollars for 2007, compared to a net profit of 7.5 billion in 2006. The loss includes a massive 14.1 billion write-down on failed investments related to sub-prime mortgages.
Thursday, January 17th 2008 - 20:00 UTC
Fed support for “quick” stimulus support package

Federal Reserve chairman Ben Bernanke on Thursday backed the introduction of emergency economic measures aimed at helping the US economy avoid recession.
Wednesday, January 16th 2008 - 20:00 UTC
Three more bull market years for farm commodities

Agricultural commodity prices will advance for at least three more years, bolstered by demand that's expanding faster than supply, according to a report by Jeffrey Currie from Goldman Sachs Group Inc.'s.
Wednesday, January 16th 2008 - 20:00 UTC
Energy and food push US inflation to highest in 17 years

Inflation in United States for all of 2007 hit the highest rate for 17 years as surging energy and food costs pushed up prices according to the US Labor Department latest release.
Tuesday, January 15th 2008 - 20:00 UTC
Citigroup record losses and cash injection promises

The US largest banking organization Citigroup has reported record 9.83 billion US dollars net loss for the last three months of 2007. Chief executive Vikram Pandit said Tuesday the loss had been caused by 18.1 billion US dollars exposure to bad mortgage debt and was “clearly unacceptable”.