Economy

Thursday, March 20th 2008 - 21:00 UTC
“Fed rate cuts will not make difference” warns Stiglitz

Nobel Prize winning economist Joseph Stiglitz said the current financial crisis is the worst the world has seen since the Great Depression of the 1930s and the US Federal Reserve move to cut interest rates will not make much difference.
Thursday, March 20th 2008 - 21:00 UTC
Brazil trade surplus rapidly shrinking by flood of imports

Brazil's trade surplus shrank to 882 million US dollars in February, less than one third of the same month a year ago 2.9 billion US dollars, according to the country's Ministry of Development, Industry and Foreign Trade.
Thursday, March 20th 2008 - 21:00 UTC
Chilean main banker cautions on low US dollar speculation

Chile's Central Bank (BC) president Jose De Gregorio cautioned this week against speculation on the low US dollar, warning that, when the currency begins to regain value, such actions could cause significant financial losses.
Thursday, March 20th 2008 - 21:00 UTC
Credit crisis could “wipe” 800 billion from financial system

The mounting global credit crisis could develop into a financial “contagion” and could wipe 800 billion US dollars of value from the books of US and global financial institutions, an official of the International Monetary Fund said.
Wednesday, March 19th 2008 - 21:00 UTC
Horsemeat: Argentina main exporter of promising market

Argentina became in 2007 the world's leading exporter of horse meta, totaling 35.755 tons equivalent to 87.5 million US dollars, according to the latest report from the Agriculture, Livestock, Fisheries and Food Secretary.
Tuesday, March 18th 2008 - 21:00 UTC
Argentine farmers sixth day of protest, and more next week

The stand off between the Argentine government and striking farmers who are protesting against export taxes on grains, beef and dairy produce has yet to see effective signals of a cooling of the situation or the possibility of a dialogue.
Tuesday, March 18th 2008 - 21:00 UTC
Fed cuts rates to 2.25% and Paulson denies recession

The Federal Reserve cut US interest rates sharply (0.75%) in an attempt to restore confidence to nervous financial markets and boost the ailing economy. However the cut was smaller than markets expected and the rate now stands at 2.25% (down from 3%), almost at inflation level.
Monday, March 17th 2008 - 21:00 UTC
Fed takes new steps to ease crisis

Worry about the damage a growing credit crisis is inflicting on an ailing U.S. economy led the Federal Reserve to make a rare weekend move, lowering a key lending rate before Wall Street opened Monday.
Friday, March 14th 2008 - 21:00 UTC
Estimates of record crop and revenue for Brazilian farmers

Brazilian farmers are set to receive a record 85 billion US dollars this year riding on high commodity prices and a bigger crop. This represents a 14.4% increase over the previous year in real value, according to the latest data from the Brazilian Ministry of Agriculture and Livestock.
Friday, March 14th 2008 - 21:00 UTC
Fed bails out leading Wall Street bank: who's next?

One of the United States leading investment banks, Bear Stearns received on Friday emergency funding, in a move that raises fears that one of Wall Street's biggest names is on the verge of collapsing.