Economy

Saturday, October 13th 2007 - 21:00 UTC
Ten per cent of Argentines live on 4 US dollars per day

Argentina's poorest, ten per cent of the population live on less than four US dollars per day while on the other extreme half a million households can dispose of 220 US dollars per day according to a report from a private consulting firm released this week.
Friday, October 12th 2007 - 21:00 UTC
Weak dollar shrinks US trade deficit even with China

The United States August trade deficit dropped substantially to its lowest since last January, 57.6 billion US dollars, as export levels rose to a monthly high and imports fell, reported the Department of Commerce.
Friday, October 12th 2007 - 21:00 UTC
Fed anticipates tougher regulations for mortgage market

Federal Reserve governor Randall Kroszner said this week that the central bank was forced to cut its benchmark interest rate in September because earlier attempts to increase liquidity did not help enough.
Friday, October 12th 2007 - 21:00 UTC
US dollar in Chilean market keeps sliding and closer to $ 490

With the US dollar operating in the Chilean Money exchange market below the 500 pesos benchmark, and still sliding, the Chilean Central Bank decision to leave the basic rate unchanged came as a relief.
Thursday, October 11th 2007 - 21:00 UTC
IMF yes/no policy: growth to continue but also credit turmoil

The International Monetary Fund's chief economist said on Wednesday repercussions from recent market turmoil should be contained within advanced economies, with growth in emerging markets likely to remain broadly on track.
Thursday, October 11th 2007 - 21:00 UTC
UK surveyors: house prices fall at fastest rate in two years

House prices are falling at their fastest rate for two years as buyers stay away from the market, new figures have shown.
Thursday, October 11th 2007 - 21:00 UTC
US Commerce Secretary Says Doha Deal Could Be Close

A general agreement on global trade liberalization in the Doha round of talks is “closer than most people think,” said U.S. Commerce Secretary Carlos Gutierrez Wednesday.
Tuesday, October 9th 2007 - 21:00 UTC
Copper at its highest in 41 years and keeps rising

Current boom copper demand has catapulted the value of the metal to its highest price in more than 40 years. The Chilean Copper Commission reported that the average copper price through September this reached 3.27 US dollar per pound, highest average price since 1966, when the commodity averaged US$3.63 for the year.
Tuesday, October 9th 2007 - 21:00 UTC
Banco del Sur will be launched on November in Caracas

Seven South American countries agreed to establish Banco del Sur, a regional development bank championed by Venezuelan President Hugo Chavez, in an effort to expand regional trade and growth with their own resources.
Tuesday, October 9th 2007 - 21:00 UTC
Chilean exporters howl as US dollar falls to below 500 pesos

The US dollar continued on Tuesday its rapid erosion and closed at 498 Chilean pesos, its lowest value against the local currency since 1999. So far this year the Chilean peso has appreciated 6.41% against the US dollar compared to 3.95% for the twelve months of 2006.