Economy

• Tuesday, April 1st 2008 - 21:00 UTC

  Sub-prime crisis costs top Swiss bank 37 billion US dollars

  

  Swiss financial giant UBS has reported that its write-downs as a result of the sub-prime crisis have more than doubled to about 37 billion US dollars. It is the largest write-down by any bank since the credit crunch began.

• Sunday, March 30th 2008 - 21:00 UTC

  US Fed to be grilled over massive support to financial system

  

  United States Federal Reserve will make a further 100 billion US dollars available to major banks in April, trying to ease concerns about a global credit crunch. The sum, offered across two auctions, is in addition to 260 billion US dollars provided in short-term loans to the end of March.
  
  Other unorthodox steps include the Fed allowing investment banks to borrow from it directly, previously only possible for commercial banks.

• Sunday, March 30th 2008 - 21:00 UTC

  Argentina's trade surplus soars with commodity prices

  

  Argentina's trade surplus in February jumped 23.5% over a year ago reaching 982 million US dollars, but lower than expected because of a surge in imports according to the latest report from the Institute of Statistics and Census, Indec.

• Sunday, March 30th 2008 - 21:00 UTC

  Rice consumption forecasted to outpace production in 2008

  

  World consumption of rice continues to rise and outpace production and the trend will continue in 2008, bringing with it a host of factors that will impact rice producers said Carl Brothers senior vice president of Riceland Foods.

• Sunday, March 30th 2008 - 21:00 UTC

  Argentina: 30.4% (10.8 m) live below the poverty line

  

  Higher food and fuel prices plunged 1.3 million Argentines below the poverty line in 2007, which means the income of 10.8 million Argentines is not enough to cover the costs of the basic food basket, according to a paper from the Buenos Aires think tank Sociedad de Estudios Laborales, SEL.

• Sunday, March 30th 2008 - 21:00 UTC

  Vietnam limits rice exports; China boosts pay to farmers

  

  Vietnam became the latest rice-producing country to limit exports of the grain and China announced on Friday higher payments to farmers both rice and wheat in an attempt to boost crop production and cool surging inflate

• Friday, March 28th 2008 - 21:00 UTC

  Uruguay: Inflation becomes “permanent challenge”

  

  Uruguayan Ministry of Economy admitted that inflation has become a “permanent challenge” demanding an “ongoing monitoring” of prices. Remarks follow the latest readjustment of fuel (2.4%) and bakery (14%) prices which have been influenced by the soaring values of oil and wheat.

• Thursday, March 27th 2008 - 21:00 UTC

  Millions of Asians in poverty because of agriculture neglect

  

  Chronic neglect of agriculture in Asia and the Pacific has left over 200 million people in extreme poverty amid rising prices for foodstuffs and despite robust growth in other sectors, according to a United Nations report released Thursday.

• Thursday, March 27th 2008 - 21:00 UTC

  Strong economy boosts Lula da Silva's support to 58%

  

  Support for Brazilian President Lula da Silva's administration jumped to its highest level 58%, riding on a strong economy which has helped boost wages and jobs, a public opinion poll showed on Thursday.

• Wednesday, March 26th 2008 - 21:00 UTC

  United States economic misery continues

  

  The US economy is continuing its economic downturn although it would be “premature” to officially declare a recession, the Organisation for Economic Co-operation and Development (OECD) has said.