Economy

Tuesday, December 18th 2007 - 20:00 UTC
China's economy overestimated but is the world's second

The size of China's economy is overestimated by some 40%, but it remains the world's second largest using a ranking based on purchasing power, the World Bank said Monday.
Monday, December 17th 2007 - 20:00 UTC
Bs As. Herald purchased by Argentine group

The Buenos Aires Herald was sold to an Argentine publishing corporation which acquired 97% of the shares announced the newspaper to its readers over the weekend. The new owners print the financial newspaper Buenos Aires Económico and the magazines Veintitrés, Siete Días and the Spanish version of the US Newsweek.
Monday, December 17th 2007 - 20:00 UTC
Wheat price surges above the 10 US$ per bushel benchmark

Global wheat prices surged more than 3% on Monday, with Chicago Board of Trade wheat futures breaking the 10 US dollar a bushel benchmark for the first time, on dwindling world supplies, a lack of sellers and a push from financial investors.
Saturday, December 15th 2007 - 20:00 UTC
Mercosur and Israel to sign free trade accord on Monday

Mercosur and Israel will subscribe a free trade agreement, parallel to the group's two day presidential summit scheduled for next week in Montevideo, Uruguay, when Argentina will be taking the six months chair.
Saturday, December 15th 2007 - 20:00 UTC
Venezuela and Brazil pledge closer trade and energy ties

Brazil and Venezuela have pledged closer trade and energy ties, including building a new oil refinery in Brazil.
Friday, December 14th 2007 - 20:00 UTC
Main world central banks join to address credit crunch

The United States Federal Reserve, European Central Bank and central banks from the UK, Canada and Switzerland are to jointly help banks deal with the credit crunch. Each has announced that they will provide billions in loans to banks in order to lower interest rates and ease the availability of credit.
Friday, December 14th 2007 - 20:00 UTC
Inflation emerges as the main challenge for US and EU

November inflation in United States and the European Union rose at faster paces than anticipated spurred by energy and food prices. Consumer prices in November in the US rose 0.8% over October while in the 13 nation Euro zone block they climbed to 3.1% compared to November last year and up from October's 2.6% increase.
Thursday, December 13th 2007 - 20:00 UTC
Greenspan replies to critics who blame him for housing crisis

The U.S. subprime mortgage crisis was an “accident waiting to happen” as a period of unprecedented global growth seduced investors into under-pricing risk, former Federal Reserve Chairman Alan Greenspan argued in an article published by The Wall Street Journal on Wednesday.
Thursday, December 13th 2007 - 20:00 UTC
Agriculture boosts Brazilian growth to 5.7% in third quarter

Brazil's economy expanded 5.7% in the third quarter, boosted by big gains in the agricultural and industrial sectors, and it appeared on track to grow 5% for the year, according to government figures.
Wednesday, December 12th 2007 - 20:00 UTC
IMF chief suggests Argentina pays Paris Club “in one shot”

The International Monetary Fund hopes Argentina and the Paris Club will reach a repayment deal on 6.3 billion US dollars in defaulted debt without the IMF involvement, said the IMF managing director.