Economy

Friday, August 24th 2007 - 21:00 UTC
Shanghai's market breaks through the 5.000 points benchmark

While Wall Street closed Thursday trading down 0.4% and the Federal Reserve pumped an additional 17 billion US dollars in China the stock market capped a bull run, with the Shanghai Composite Index hitting 5,000 points for the first time while Hong Kong shares rallied to a three- week high.
Friday, August 24th 2007 - 21:00 UTC
China/US trade and export safety dispute tension heightens

China accused the United States on Thursday of becoming increasingly protectionist, as it hit back following a wave of high-profile trade disputes and export safety scandals.
Friday, August 24th 2007 - 21:00 UTC
Limited supplies make wheat prices reach record highs

Wheat prices hit record highs this week. Bad weather in key grain growing areas such as Canada and parts of Europe has limited supplies as demand has risen, sparking fears of a supply shortfall and threats of rising bread prices.
Friday, August 24th 2007 - 21:00 UTC
Kirchner official says no “transparent” inflation index until November

Argentina's cabinet chief Alberto Fernandez promised union leaders on Friday that the controversial Consumer Prices Index, CPI, will be “transparent” as of next October because the government is intent on ensuring the chances of presidential candidate Cristina Fernandez de Kirchner, reports La Nacion.
Thursday, August 23rd 2007 - 21:00 UTC
IMF: turbulences will impact growth, “but not dramatically”

Turbulences affecting world markets which will be around for some time will have an effect on global economic growth because of the uncertainty it has created, said IMF Managing Director Rodrigo Rato in Sao Paulo.
Thursday, August 23rd 2007 - 21:00 UTC
Cepal forecasts commodities boom to continue 5/10 years

Latinamerica is poised to enjoy exceptionally high prices for its exports during the next five to ten years given the growing demand for commodities from China and India, according to a report from the United Nations Economic Commission for Latinamerica and the Caribbean, Cepal.
Wednesday, August 22nd 2007 - 21:00 UTC
Venezuela oil deal gives low income Londoners cheap bus fares

Up to a million people on income support will be eligible for half fares on London's buses under Ken Livingstone's oil deal with Hugo Chávez, Venezuela's president.
Wednesday, August 22nd 2007 - 21:00 UTC
Hurricane Dean targets Mexican oilfields in the Bay of Campeche

Dean smashed up the arty resort of Tulum and washed sand off the famous beach at Cancun before crossing the peninsula and heading out into the southern Gulf of Mexico where state oil company Pemex has hundreds of wells and installations.
Wednesday, August 22nd 2007 - 21:00 UTC
Barclays borrows from BoE standing lending facility

Barclays was identified as the bank that borrowed £ 314 million (624 million US dollars) from the Bank of England's standing lending facility, the first time the financial instrument has been used since credit conditions deteriorated a month ago.
Wednesday, August 22nd 2007 - 21:00 UTC
Former IMF official recommends labor flexibility in Chile

Anne Krueger, the former number two official in the International Monetary Fund (IMF), recommended greater labor flexibility for Chile's labor market on Monday. The economist also took a hard stance against arguments for an “ethical salary” for Chile's wage owners, a subject of much debate today in Chile.