Economy

Wednesday, January 30th 2008 - 20:00 UTC
Argentina's statistics reliability again on the spotlight

Inflation in Argentina allegedly reached 22% in 2007 according to a group of displaced experts from the country's Statistics and Census Institute, Indec which has been at the centre of an acrimonious and controversial dispute between the legally autonomous organization and the Kirchner administrations.
Wednesday, January 30th 2008 - 20:00 UTC
Fed cuts rate to 3%, but negative US data softens impact

The Federal Reserve has cut interest rates for the second time in nine days in a further attempt to keep the United States economy from entering a recession. However a barrage of negative data on US growth, housing and employment seems to have watered the reaction from markets.
Wednesday, January 30th 2008 - 20:00 UTC
EU freezes beef imports from Brazil for sanitary reasons

The European Union will freeze all imports of Brazilian beef as from Thursday after Brazil failed to provide sufficient sanitary safety guarantees announced in Brussels EU Health and Consumer Affairs Commissioner Markos Kyprianou.
Wednesday, January 30th 2008 - 20:00 UTC
Chinese company buys into copper and gold mines in Peru

China's largest metal trader announced this week it had received approval to take control of two Peruvian mines in an operation involving 453 million US dollars.
Tuesday, January 29th 2008 - 20:00 UTC
London summit to address banking and financial turmoil

Leaders of the United Kingdom, France, Germany and Italy plus the European Commission meet in London Tuesday to discuss how to respond to recent turmoil on global financial markets and greater calls for banking transparency.
Tuesday, January 29th 2008 - 20:00 UTC
2.5 million UK households are “working wealthy”

Almost 10% percent of the United Kingdom population can be regarded as wealthy, according to the 2008 Wealth Review of insurer Hiscox Ltd. This translated into 2.5 million households, Hiscox said.
Tuesday, January 29th 2008 - 20:00 UTC
Amid energy disarray China anticipates a “most difficult year”

Chinese Premier Wen Jiabao warned over the weekend that 2008 will be a “most difficult year” for the country's economy as a result of global uncertainty and domestic problems, reported on Monday China's Broadcasting Corporation.
Tuesday, January 29th 2008 - 20:00 UTC
Speculation over Fed rate cuts spurs Wall Street and Latam

Shares in Wall Street gained ground at last moment trading on expectations of further interest rates cuts this week when the Federal Reserve meets on Wednesday to consider steps to help prop the US economy.
Tuesday, January 29th 2008 - 20:00 UTC
IMF: significant global slowdown but no recession

Stormed by recent financial market turbulence and a weakening U.S. performance, world growth is projected to slow to 4.1% in 2008, down from an estimated 4.9% last year, the IMF said in its quarterly update for the global economy.
Tuesday, January 29th 2008 - 20:00 UTC
Unemployment in Santiago is up, first time since 2005

Unemployment in Chile's capital Santiago reached 8.9% in December 2007, according to a report compiled by the Department of Economy at the University of Chile.