Economy

Thursday, July 24th 2008 - 21:00 UTC
BHP Billiton makes huge copper discovery in Chile

Anglo-Australian BHP Billiton has made a big discovery near its Escondida copper mine in Chile and has announced plans to spend 327 million US dollars to shore up the resource and two others nearby as it looks to extend the life at the world's biggest copper mine.
Thursday, July 24th 2008 - 21:00 UTC
Moscow and Tokyo most expensive cities third year running

Moscow and Tokyo top the list of the world's most expensive locations for the third year running, according to the annual report from consultants Mercer which considers 143 cities all over the world. Asunción in Paraguay figures as the less expensive place to live.
Thursday, July 24th 2008 - 21:00 UTC
Brazil raises basic interest rate 75 basis points to 13%

Brazil's central bank raised interest rates by 75 basis points to 13% on Wednesday, lifting borrowing costs for the third time in four months in a bid to prevent resurgent inflation from undermining economic growth.
Thursday, July 24th 2008 - 21:00 UTC
Investment and exports behind Uruguay's growth

Productive investment and exports have been behind the sustained growth of the Uruguayan economy since the crisis of 2002, according to Fernando Lorenzo head of the Macroeconomic and Financial Advisors Office from the country's Ministry of Economy.
Wednesday, July 23rd 2008 - 21:00 UTC
European & Canadian cities have best quality of living

European cities dominate the worldwide rankings of locations with the best quality of living, according to Mercer's 2008 Quality of Living survey. Zurich retains its 2007 title as the highest ranked city followed jointly by Vienna (2), Geneva (2), then Vancouver (4) and Auckland (5).
Wednesday, July 23rd 2008 - 21:00 UTC
US dollar close to medium-term equilibrium says IMF

The Euro is overvalued, while the US dollar's decline has brought it closer to its medium-term equilibrium in a decade, according to a top official from the International Monetary Fund.
Wednesday, July 23rd 2008 - 21:00 UTC
Bushconomics: “Wall Street got drunk and now has a hangover”

President George W Bush has explained the credit crunch savaging United States financial markets by saying “Wall Street got drunk”.
Tuesday, July 22nd 2008 - 21:00 UTC
US ready to cap farm subsidies at 15 billion USD annually

United States says it is ready to cut its trade-distorting farm subsides to 15 billion US dollars a year in a bid to reach a global trade deal that could help boost the world economy.
Tuesday, July 22nd 2008 - 21:00 UTC
Grain and soy prices yield on US good weather

Wheat, corn and soybean prices eased at the start of the week on news of favorable crop weather in the US and Europe along with Argentina's decision to repeal the export tax hike.
Monday, July 21st 2008 - 21:00 UTC
US Senate accuses European banks of helping tax evaders

A US Senate subcommittee accused banks in Switzerland and Liechtenstein of helping wealthy US citizens commit massive tax evasion, and urged the establishment of tougher laws to combat offshore tax havens around the world.