Economy

Wednesday, August 29th 2007 - 21:00 UTC
Global markets react fearful of big banks performance

Wall Street shares cast a shadow over global stock markets again after warnings that the problems in credit markets will hit big banks' profits. The Dow Jones suffered its biggest fall since 9 August on Tuesday, closing down 280.3 points or 2.1% at 13,041.9.
Wednesday, August 29th 2007 - 21:00 UTC
Mercosur received 300 billion in foreign direct investment

Mercosur member countries received 300 billion US dollars in foreign direct investments between 1990 and 2004, reported the United Nationd Economic Commission for Latinamerica and the Caribbean, Cepal.
Wednesday, August 29th 2007 - 21:00 UTC
Argentina trusts China will not adopt trade counter measures

Argentina trusts China will not adopt reprisals following the latest trade restrictions on imports recently decided by President Nestor Kirchner's administration and which affect many Chinese goods, Argentine Secretary of Commerce Alfredo Chiaradía said on Wednesday.
Wednesday, August 29th 2007 - 21:00 UTC
China anti-corruption campaign weeds out Finance minister

China's Finance Minister Jin Renqing has been transferred to a government think-tank and will be replaced by the country's top tax collector, confirmed on Wednesday Beijing sources following press reports.
Monday, August 27th 2007 - 21:00 UTC
Venezuelan Funding to Latin America

Laid-off Brazilian factory workers have their jobs back. Nicaraguan farmers are getting low-interest loans. Bolivian mayors can afford new health clinics.
Monday, August 27th 2007 - 21:00 UTC
Sub-prime mortgages default “bigger threat than terrorism”

The risk of massive defaults on sub-prime mortgages and heavy debts now poses a bigger threat to US economic prosperity than terrorism, a panel of US business economists said Monday.
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.