Economy

• Monday, August 6th 2007 - 21:00 UTC

  President Kirchner's confidence index keeps eroding

  With less than three months for next October presidential election the Nestor Kirchner administration is going through one of its worst moments since he first took office in May 2003, according to the Confidence Index from the Torcuato Di Tella University.

• Friday, August 3rd 2007 - 21:00 UTC

  ECB rates unchanged at 4% but September hike is forecasted

  The European Central Bank (ECB) left Eurozone interest rates on hold at 4% for the second month in a row. The Thursday decision however also anticipated that the ECB will be hiking rates next September or October

• Friday, August 3rd 2007 - 21:00 UTC

  Bank of England “wait and see” policy leaves rate at 5.75%

  The Bank of England decided Thursday to leave the cost of borrowing at 5.75%. The Monetary Policy Committee (MPC) had been widely expected to keep rates on hold this month, as it waits to see the impact of the rises so far, but many economists predict rates will go up to 6% later this year.

• Friday, August 3rd 2007 - 21:00 UTC

  Chavez again to the rescue of Argentina's financial woes

  Argentina' cabinet chief Alberto Fernandez confirmed Thursday that the coming week Venezuela will again purchase Argentine sovereign bonds for which “we Argentines should, and must be fully acknowledged to President Hugo Chavez” for the financial help extended.

• Friday, August 3rd 2007 - 21:00 UTC

  “Fiscal orthodoxy”, once Cristina K becomes president

  Faced with the growing turbulence of global financial markets and Senator Cristina Fernandez October 28 presidential bid Argentine President Nestor Kirchner has instructed his advisors to promote domestic consumption and ensure economic expansion, but as of next November “fiscal revenue must be higher than expenditure” according to reliable political sources in Buenos Aires.

• Friday, August 3rd 2007 - 21:00 UTC

  Leading Chilean bishop calls for improved income distribution

  Chilean Episcopal Conference president Monsignor Alejandro Goic who played a leading mediation role in a labor conflict in the copper mines, said that one of the causes for labor strife are low salaries and suggested that the “minimum salary should really be converted into an ethical salary”.

• Friday, August 3rd 2007 - 21:00 UTC

  Latinamerica better prepared to face financial turbulences

  Latinamerican economies are much better prepared than in the nineties to face financial turbulences, said on Friday Jose Luis Machinea, Executive Secretary for the United National Economic Committee for Latinamerica and the Caribbean, CEPAL.

• Friday, August 3rd 2007 - 21:00 UTC

  Volatile week ends with markets falling and fears of more to come

  Stock markets in United States fell heavily on Friday following a volatile week. The Dow Jones, which saw triple digit gains on Wednesday and Thursday, fell by 2.1%, 284.8 points, to 13,178.5. The Nasdaq lost 2.5% to 2,511.25 points.

• Wednesday, August 1st 2007 - 21:00 UTC

  Global impact from the US deteriorating housing market

  

  Stock markets across Asia have suffered heavy falls on fresh concerns over the impact of the problems in the US housing market which on Tuesday caused sharp losses on Wall Street.

• Wednesday, August 1st 2007 - 21:00 UTC

  US tenth largest residential mortgage bank collapses

  

  Shockwaves of still unknown impact crashed through financial markets Tuesday when the United States Melville-based American Home Mortgage Investment Corp. announced it was suffering credit problems and would consider “going into liquidation” among other options.