Economy

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.
Tuesday, December 11th 2007 - 20:00 UTC
China and US begin round of trade and currency talks

United States and China have played down their differences ahead of a series of high-level trade talks taking place this week in Beijing. China's product safety record, its massive trade surplus and what some in Washington see as Beijing's currency manipulation are high on the agenda.
Tuesday, December 11th 2007 - 20:00 UTC
Fearing a slowdown the Federal Reserve cut rates to 4.25%

As anticipated by markets and concerned with slower economic growth and softer business and consumer spending the United States Federal Reserve cut on Tuesday the basic interest rate 25 points to 4.25%.
Tuesday, December 11th 2007 - 20:00 UTC
Uruguay on pace to the fifth running year of growth

Uruguay's economy expanded 6.7% during the first nine months of 2007 compared to the same period last year, driven by the transportation and communications sectors, the Central Bank reported on Monday.
Tuesday, December 11th 2007 - 20:00 UTC
Brazilian beef exports booming in spite of EU ban threat

Beef exports are likely to rise in 2008 as Russia resumes importing meat from Brazil, the Brazilian Beef Exporters Association (Abiec) said in Sao Paulo.
Monday, December 10th 2007 - 20:00 UTC
Chinese corporation interested in wool clip from Magallanes

One of China's main textile trading companies recently visited Magallanes region in the extreme south of Chile with the purpose of acquiring a significant percentage of the region's total production.