Economy

Friday, October 26th 2007 - 20:00 UTC
Stora-Enso is closing three paper mills and cutting 1.700 jobs

The Finnish-Swedish forest products group Stora Enso reported Thursday a third quarter loss and announced plans to cut production by closing mills in Finland and Sweden which will mean the loss of 1.700 jobs.
Friday, October 26th 2007 - 20:00 UTC
Argentina's finances and spending on the electoral trail

It's electoral time and Argentina's government spending has reached a 24% of GDP, which is considered a record and several points ahead of the vilified administration of former president Carlos Menem, 21% at its peak, and who has been blamed for much of Argentina's recent shortcomings, points out the Buenos Aires press.
Friday, October 26th 2007 - 20:00 UTC
Argentina's heterodox mix of policies still “unconvincing”

Financial investors feel disappointed with President Nestor Kirchner's administration and are demanding fiscal and monetary policies corrections to dominate inflation and ensure sustained growth before they begin to consider putting money into Argentina's sovereign bonds at reasonable rates.
Friday, October 26th 2007 - 20:00 UTC
Bank of the South opening delayed until December

The official opening of the Bank of the South, a development-promotion financial institution with the support of most South American countries has been delayed until December 5, announced Venezuela's Foreign Affairs minister Nicolas Maduro.
Wednesday, October 24th 2007 - 20:00 UTC
China became last August world's leading exporter

China last August became the world's leading exporter overtaking Germany, according to information from the World Trade Organization. China's exports totaled 111.4 billion US dollars and the until that moment leader, 105.8 billion.
Monday, October 22nd 2007 - 20:00 UTC
Slowdown for Ireland and Spain forecasts risk agency

Ireland and Spain face a prolonged slowdown in economic growth because of a drop in construction activity and consumer sentiment which have begun to have an impact on labor markets and weakens public finances according to the US risk ratings agency Standard & Poor's.
Saturday, October 20th 2007 - 20:00 UTC
G24 demand IMF surveillance of advanced economies

The International Monetary Fund should step up its surveillance of the United States and other advanced economies in light of the global credit crisis shaking world markets, the Group of 24 developing countries said Friday in Washington.
Saturday, October 20th 2007 - 20:00 UTC
G7 Finance ministers press China for a stronger Yuan

Finance ministers from the G7 group of leading industrial countries meeting in Washington have called on China to allow its currency to rise in value more quickly. “Beijing must do more to let the Renminbi appreciate”, said G7 ministers.
Friday, October 19th 2007 - 20:00 UTC
US markets plunge on growing concerns about a recession

United States stocks tumbled lower Friday (anniversary of 19 October 1987 Black Monday) closing a disastrous week sparked by poor bank and company earnings reports plus growing concerns about the state of the economy.
Thursday, October 18th 2007 - 20:00 UTC
Brazil optimistic about an agreement on the Doha round

World trade talks are progressing and appear to be edging close to a deal, Brazil's ambassador to the United States said on Wednesday. In Pretoria a summit of presidents from host South Africa, Brazil and India seemed to confirm expectations.