Economy

Friday, March 21st 2008 - 21:00 UTC
OECD forecasts US economy zero growth in second quarter

United States economic growth is grinding to a halt, but the Euro zone is doing relatively well so far, according to the latest assessment from the Organisation for Economic Cooperation and Development.
Friday, March 21st 2008 - 21:00 UTC
South America better prepared for US recession challenge

Although the Latin American economy isn't “immune” to the crisis in the United States, it's in a better position than 10 years ago and Central America and the Caribbean will feel the effects more than South American countries, said World Bank vice president Pamela Cox this week in Bogota.
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.