Economy

Monday, August 27th 2007 - 21:00 UTC
Housing sector gives no respite to US markets

Concern that United States house prices could fall sharply has returned after a key survey showed that sales fell to a near five-year low in the year to July. Sales of existing homes fell 0.2% to 5.75 million units in the year, the lowest since November 2002, said the National Association of Realtors (NAR).
Monday, August 27th 2007 - 21:00 UTC
Punta Arenas, the second most expensive city in Chile

Punta Arenas figures as the second most expensive city in Chile behind the capital Santiago, according to the latest report from the Business School of the Universidad del Desarrollo released this week.
Friday, August 24th 2007 - 21:00 UTC
Mortgage expert forecasts US housing downturn recession

Countrywide Financial Corp Chief Executive Angelo Mozilo said on Thursday the U.S. housing downturn is likely to lead the country into recession, but that the largest U.S. mortgage lender will survive.
Friday, August 24th 2007 - 21:00 UTC
Japan leaves key interest rate unchanged at 0.5%

The Bank of Japan decided Thursday to keep its key interest rate unchanged at 0.5% for the sixth month in a row.
Friday, August 24th 2007 - 21:00 UTC
Shanghai's market breaks through the 5.000 points benchmark

While Wall Street closed Thursday trading down 0.4% and the Federal Reserve pumped an additional 17 billion US dollars in China the stock market capped a bull run, with the Shanghai Composite Index hitting 5,000 points for the first time while Hong Kong shares rallied to a three- week high.
Friday, August 24th 2007 - 21:00 UTC
China/US trade and export safety dispute tension heightens

China accused the United States on Thursday of becoming increasingly protectionist, as it hit back following a wave of high-profile trade disputes and export safety scandals.
Friday, August 24th 2007 - 21:00 UTC
Limited supplies make wheat prices reach record highs

Wheat prices hit record highs this week. Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a supply shortfall and threats of rising bread prices.
Friday, August 24th 2007 - 21:00 UTC
Kirchner official says no “transparent” inflation index until November

Argentina's cabinet chief Alberto Fernandez promised union leaders on Friday that the controversial Consumer Prices Index, CPI, will be “transparent” as of next October because the government is intent on ensuring the chances of presidential candidate Cristina Fernandez de Kirchner, reports La Nacion.
Thursday, August 23rd 2007 - 21:00 UTC
IMF: turbulences will impact growth, “but not dramatically”

Turbulences affecting world markets which will be around for some time will have an effect on global economic growth because of the uncertainty it has created, said IMF Managing Director Rodrigo Rato in Sao Paulo.
Thursday, August 23rd 2007 - 21:00 UTC
Cepal forecasts commodities boom to continue 5/10 years

Latinamerica is poised to enjoy exceptionally high prices for its exports during the next five to ten years given the growing demand for commodities from China and India, according to a report from the United Nations Economic Commission for Latinamerica and the Caribbean, Cepal.