Economy

Thursday, April 3rd 2008 - 21:00 UTC
Bernanke in Congress admits “recession” is in his vocabulary

Federal Reserve Chairman Ben Bernanke warned on Wednesday that US gross domestic product (GDP) could contract in the first six months of 2008. If this happens the US would be in recession since two consecutive three-month periods of negative growth is generally accepted as such.
Thursday, April 3rd 2008 - 21:00 UTC
Hostage release and Paris Club in CFK Sarkozy summit

With the farmers' conflict in recess for thirty days, Argentine president Cristina Fernandez de Kirchner, CFK, is preparing to fly next Saturday to Paris where on Monday she will meet with French President Nicolas Sarkozy to work on an agenda of mutual interest which could have significant political benefits.
Wednesday, April 2nd 2008 - 21:00 UTC
Fears of inflation as Brazil's industrial output climb 9.7%

Brazil's industrial output climbed 9.7% in February, the highest in the last four months and the 20th straight gain in year-on year industrial production according to the latest release from the government.
Wednesday, April 2nd 2008 - 21:00 UTC
Paraguay faces double impact of the weakening US dollar

Paraguay is increasingly concerned with the weakness of the US dollar which together with the landlocked South American country commodities export boom is appreciating the local currency far above the Central Bank's target.
Tuesday, April 1st 2008 - 21:00 UTC
Paulson proposes biggest overhaul of US financial sector

The United States Treasury revealed on Monday its blueprint for the biggest overhaul of regulation of the financial sector since the stock market crash of 1929 and the ensuing Great Depression.
Tuesday, April 1st 2008 - 21:00 UTC
Uruguay 2007 goods & services exports reach U$S 6.8 billion

Uruguay's exports of goods and services reached a record 6.825 billion US dollars in 2007, up 18% over 2006 according to data released by the Central Bank and published in the Montevideo media.
Tuesday, April 1st 2008 - 21:00 UTC
Sub-prime crisis costs top Swiss bank 37 billion US dollars

Swiss financial giant UBS has reported that its write-downs as a result of the sub-prime crisis have more than doubled to about 37 billion US dollars. It is the largest write-down by any bank since the credit crunch began.
Sunday, March 30th 2008 - 21:00 UTC
US Fed to be grilled over massive support to financial system

United States Federal Reserve will make a further 100 billion US dollars available to major banks in April, trying to ease concerns about a global credit crunch. The sum, offered across two auctions, is in addition to 260 billion US dollars provided in short-term loans to the end of March.

Other unorthodox steps include the Fed allowing investment banks to borrow from it directly, previously only possible for commercial banks.
Sunday, March 30th 2008 - 21:00 UTC
Argentina's trade surplus soars with commodity prices

Argentina's trade surplus in February jumped 23.5% over a year ago reaching 982 million US dollars, but lower than expected because of a surge in imports according to the latest report from the Institute of Statistics and Census, Indec.
Sunday, March 30th 2008 - 21:00 UTC
Rice consumption forecasted to outpace production in 2008

World consumption of rice continues to rise and outpace production and the trend will continue in 2008, bringing with it a host of factors that will impact rice producers said Carl Brothers senior vice president of Riceland Foods.