Economy

Friday, July 27th 2007 - 21:00 UTC
Week ends with global share sell-off fears unabated

Unite States stock markets dropped sharply Friday, extending a global share sell-off amid fears about the effect of higher interest rates on the world economy. There are growing concerns that higher rates will hit corporate profits and takeover deals, and dent consumer spending.
Thursday, July 26th 2007 - 21:00 UTC
US slowdown makes China largest contributor to global growth

The International Monetary Fund raised its forecast for growth in the global economy for this year to 5.2%, up form its April forecast of 4.9%.
Thursday, July 26th 2007 - 21:00 UTC
Argentine peso looses ground for third day in a row

The Argentine peso slid for the third day in a row, hitting four-year lows against the US dollar in the range of 3.15/3.20 while the stock market recovered at the end of the day after having lost ground earlier.
Tuesday, July 24th 2007 - 21:00 UTC
EU urges China more surveillance about product safety

The European Union urged China on Monday to be more vigilant about product safety, from toothpaste to pet food, and to provide more information about the measures it takes against manufacturers of fake or shoddy exports.
Monday, July 23rd 2007 - 21:00 UTC
Brazil after Mercosur waiver to hike tariffs on shoes and textiles

Brazil is considering requesting a waiver from Mercosur with the purpose of hiking the common external tariff (AEC) on shoes and textiles from 20 to 35%, if Uruguay refuses to accept the proposal, reports the Sao Paulo press.
Monday, July 23rd 2007 - 21:00 UTC
Massive loss of crops in Chile with little or no insurance

Chile's Central valley fruit and vegetable growers were not prepared for this winter's freezing weather in more ways than one. Agriculture authorities reported that only 8% of the crops destroyed by icy weather were insured against the cold.
Saturday, July 21st 2007 - 21:00 UTC
Korea lead Chile's biggest new car provider

Chile's National Automobile Association (ANAC) announced Wednesday that Korea has taken top spot as Chile's new vehicle provider.
Friday, July 20th 2007 - 21:00 UTC
China roars ahead at the fastest pace in a decade, 11.9%

China's economy expanded at its fastest pace in over a decade in the second quarter, data showed Thursday, raising expectations authorities will act quickly but not severely to stop overheating.
Friday, July 20th 2007 - 21:00 UTC
China hikes rates to curb inflation and cool economy

The People's Bank of China (PBC) ordered Friday an increase of 0.27% of a point in commercial banks' benchmark one-year deposit and lending rates to keep inflation in check. The increases will take effect on 21 July and is the fifth since April 2006.
Friday, July 20th 2007 - 21:00 UTC
Poor earnings and housing slump push US markets down

United States stocks fell sharply on Friday following disappointing earnings from Caterpillar and Google. Worries over the impact of the housing slump and losses from risky mortgages also weighed on stocks.