Economy

Wednesday, July 16th 2008 - 21:00 UTC
Black Tuesday for the US economy plagued with bad news

Tuesday was a particularly black day for the US with a rainfall of bad news including Federal Reserve chairman Ben Bernanke forecast of “numerous difficulties” ahead for the US economy plus reports of the highest inflation since 1981.
Wednesday, July 16th 2008 - 21:00 UTC
Financial crisis and inflation fears plunge global markets

Global shares fell sharply during Tuesday on fears over the state of the US economy, with the Dow Jones index closing at its lowest level in two years.
Wednesday, July 16th 2008 - 21:00 UTC
US inflation in June at its fastest pace in 17 years

United States inflation accelerated at its fastest pace in 17 years in June driven higher by surging energy prices. Consumer prices were 5% higher than a year ago and rose 1.1% on a monthly basis, the Labor Department said on Wednesday.
Wednesday, July 16th 2008 - 21:00 UTC
Higher rates expected as Euro inflation doubles ECB target

Surging fuel food prices drove Euro zone inflation in June to 4%, (from 3.7% in May) more than double the European Central Bank target and the highest since measurements began in 1997, according to the latest release from the EU statistics office Eurostat.
Wednesday, July 16th 2008 - 21:00 UTC
Argentina faces complicated horizon, says Wall Street

Wall Street analysts forecast a complicated horizon for Argentina fueled by the government's political problems, slower economy, rising inflation and the ongoing dispute with farmers over taxes which some anticipate will find its way to the courts, according to reports in the Buenos Aires press.
Tuesday, July 15th 2008 - 21:00 UTC
Increased chances for global trade accord, says WTO Lamy

World Trade Organization Director-General Pascal Lamy said the chances of success for reaching a world-trade agreement have increased as a result of talks before trade ministers meet next week in Geneva.
Tuesday, July 15th 2008 - 21:00 UTC
UK June inflation soars to an 11 year high of 3.8%

Rising food and fuel costs pushed UK inflation up to an 11-year high of 3.8% in June from 3.3% in May, figures show. The rise means inflation is now well above the government's 2% target, and may reduce the chance of a UK rate cut.
Tuesday, July 15th 2008 - 21:00 UTC
US dollar plunge triggers concern among trade partners

The Euro soared to a new high against the US dollar on Tuesday, reaching US$1.6038 in European trading as markets worried about the ongoing US lending crisis and the country's economy.
Monday, July 14th 2008 - 21:00 UTC
Brazil heading for record grain and oil seed harvest

Brazil's 2008 harvest of cereals, legumes and oilseeds has been estimated in a record 143.6 million metric tons, which is 7.9% higher than the 2007 production (133.1 million metric tons) according to the June report from the country's Geography and Statistics Institute, IBGE.
Monday, July 14th 2008 - 21:00 UTC
EU reopens market for Uruguayan fisheries exports

Uruguayan fisheries exports to the European Union have officially resumed this week after having overcome sanitary observations interposed at the beginning of the year, reported the country's Fisheries Department (DINARA) director Daniel Montiel.