Economy

Sunday, January 13th 2008 - 20:00 UTC
Soaring commodities pulverized inflation targets in Latam

Peru, Panama, Brazil, Argentina, Chile, Mexico and Uruguay are the Latinamerican countries expected to have the best economic performance in the region during 2008, according to the latest edition of World Economic Prospects from the World Bank.
Saturday, January 12th 2008 - 20:00 UTC
Euro and UK keep rates on hold; stern bankers' message

The European Central Bank and Bank of England, despite growing unease about inflation and slowing economic indicators, on Thursday kept their benchmark interest rates unchanged at 4% and 5.5% respectively.
Saturday, January 12th 2008 - 20:00 UTC
China's trade surplus & reserves soar to record highs in 2007

China's trade surplus soared 48% in 2007 to a record high 262.2 billion US dollars as its export-led economic boom continued government figures have shown.
Saturday, January 12th 2008 - 20:00 UTC
US trade deficit in November widens to highest in 14 months

The United States trade deficit widened a sharp 9.3% in November to a larger-than-expected 63.1 billion US dollars, the highest in 14 months, mainly on soaring crude oil costs, reported the US Department of Commerce.
Saturday, January 12th 2008 - 20:00 UTC
Ulster farmer returns £ 5.900 cash in overpaid subsidies

An anonymous Northern Ireland farmer has sent an envelope containing £5,900 of cash to the Department of Agriculture (DARD). The money was returned in an envelope because he or she felt they were overpaid in their subsidies, reports the BBC
Saturday, January 12th 2008 - 20:00 UTC
UN economic report warns of global standstill in 2008

Following on a robust 2007, the United Nations Conference On Trade and Development says there is a clear danger of the world economy coming to a near standstill in 2008. The report says this will hit many poor nations hard, slow world trade and put an end to the boom in commodity prices.
Thursday, January 10th 2008 - 20:00 UTC
“Smaller China and India” makes IMF lower 2007 global growth

The International Monetary Fund said this week it had lowered its 2007 global growth estimate by one-half percentage point after recent data showed economies of China and India were smaller than previously thought.
Thursday, January 10th 2008 - 20:00 UTC
China to freeze basics and energy ahead of Lunar New Year

China will introduce partial price freezes on basic commodities such as gas and oil and crack down on profiteering, hoarding and other activities fuelling inflation, the government announced on Wednesday. Government officials are concerned about prices next month when the Lunar New Year celebrations.
Thursday, January 10th 2008 - 20:00 UTC
Chilean exporters howling: US dollar falling to 480 pesos

With the US dollar in free fall the Chilean Association of Exporters, ASOEX have called on the country's authorities so that “once and for all they understand the situation that vast sectors of the Chilean economy are experiencing, particularly small and medium enterprises which represent a significant number of jobs”.
Thursday, January 10th 2008 - 20:00 UTC
World Bank forecasts modest global growth of 3.3% in 2008

The global economy is expected to slow to a modest 3.3% growth in 2008, but things could worsen if United States slips into recession, the World Bank said this week in a report on “Global Economic Prospects 2008”.