Economy

Tuesday, July 24th 2007 - 21:00 UTC
EU urges China more surveillance about product safety

The European Union urged China on Monday to be more vigilant about product safety, from toothpaste to pet food, and to provide more information about the measures it takes against manufacturers of fake or shoddy exports.
Monday, July 23rd 2007 - 21:00 UTC
Brazil after Mercosur waiver to hike tariffs on shoes and textiles

Brazil is considering requesting a waiver from Mercosur with the purpose of hiking the common external tariff (AEC) on shoes and textiles from 20 to 35%, if Uruguay refuses to accept the proposal, reports the Sao Paulo press.
Monday, July 23rd 2007 - 21:00 UTC
Massive loss of crops in Chile with little or no insurance

Chile's Central valley fruit and vegetable growers were not prepared for this winter's freezing weather in more ways than one. Agriculture authorities reported that only 8% of the crops destroyed by icy weather were insured against the cold.
Saturday, July 21st 2007 - 21:00 UTC
Korea lead Chile's biggest new car provider

Chile's National Automobile Association (ANAC) announced Wednesday that Korea has taken top spot as Chile's new vehicle provider.
Friday, July 20th 2007 - 21:00 UTC
China roars ahead at the fastest pace in a decade, 11.9%

China's economy expanded at its fastest pace in over a decade in the second quarter, data showed Thursday, raising expectations authorities will act quickly but not severely to stop overheating.
Friday, July 20th 2007 - 21:00 UTC
China hikes rates to curb inflation and cool economy

The People's Bank of China (PBC) ordered Friday an increase of 0.27% of a point in commercial banks' benchmark one-year deposit and lending rates to keep inflation in check. The increases will take effect on 21 July and is the fifth since April 2006.
Friday, July 20th 2007 - 21:00 UTC
Poor earnings and housing slump push US markets down

United States stocks fell sharply on Friday following disappointing earnings from Caterpillar and Google. Worries over the impact of the housing slump and losses from risky mortgages also weighed on stocks.
Thursday, July 19th 2007 - 21:00 UTC
Brazil Central Bank lowers benchmark interest rate to 11.50%

Brazil's Central Bank Monetary Policy Committee, Copom, announced Wednesday a half percentage cut in the basic interest rate or Selic, which dropped from 12% to 11.50% on an annual basis.
Thursday, July 19th 2007 - 21:00 UTC
Energy shortages impact on Argentine industrial activities

For the first time since Argentina begun its strong recovery in 2003, industrial production contracted apparently because of the escalating energy problems and restrictions, according to the Buenos Aires think-tank FIEL which regularly releases monthly reports on economic and other activities.
Thursday, July 19th 2007 - 21:00 UTC
Bernanke: US housing slump “a drag on growth” well into 2008

Federal Reserve chairman Ben Bernanke revived fears Wednesday that the housing slump could derail a pick-up in the US economy. In his semiannual testimony before the US Congress, Bernanke predicted “moderate” economic growth through the second half with “a bit” of strengthening in 2008.