Economy

Wednesday, October 17th 2007 - 20:00 UTC
IMF forecasts 5.5% expansion in Argentina next year

Argentina is forecasted to expand 5.5% in 2008, the strongest in the region behind Venezuela and Peru according to prospects from the World Bank and the International Monetary Fund released Wednesday.
Wednesday, October 17th 2007 - 20:00 UTC
US Lower House votes four year extension for internet tax ban

The United States House of Representatives approved Wednesday a new four-year ban on state or local taxation of Internet over the objections of both Republicans and Democrats seeking a permanent ban. The current three-year ban on access taxes expires on November first.
Wednesday, October 17th 2007 - 20:00 UTC
EU warns China about “deeply unequal” trade relationship

The European Union trade relationship with China is “deeply unequal” said EU Trade Commissioner Peter Mandelson stressing that the EU sells more goods to Switzerland than to China.
Tuesday, October 16th 2007 - 20:00 UTC
US private banks set up rescue fund for sub-prime debt

Three of United States largest banks have announced a plan to buy up billions of dollars of troubled investments that lost value in the global credit crunch. The unusual move aims to boost confidence in the market for short-term and sub-prime debt, preventing a further sell-off of such investments.
Tuesday, October 16th 2007 - 20:00 UTC
Cotton dispute: WTO confirms ruling in favor of Brazil

United States said Monday it was “very disappointed” with a ruling by the World Trade Organisation ruling that its subsidies to cotton farmers breached global trade rules. The finding confirms a preliminary ruling in July in favor of Brazil, which initially brought the complaint in 2005, and paves the way for sanctions.
Tuesday, October 16th 2007 - 20:00 UTC
Luxury office construction boom in Santiago de Chile

The construction of luxury offices in the capital of Chile, Santiago has risen to its highest level in seven years, according to a study by the consultant group Mackenzie Hill.
Tuesday, October 16th 2007 - 20:00 UTC
September Euro-zone inflation above target: ECB move now

Euro zone annual inflation was 2.1% last September, (up from August 1.7%) and above the European Central Bank's target for the first time in twelve months according to the latest release from Eurostat.
Tuesday, October 16th 2007 - 20:00 UTC
World Bank forecasts robust growth in Latinoamerica

Latinamerica and the Caribbean are forecasted to grow between 4.9 and 5% this year according to the World Bank's chief economist for the region Augusto de la Torre.
Sunday, October 14th 2007 - 20:00 UTC
Bush urges Congress on trade pacts with Latam countries

United States President George Bush on Saturday urged Congress to pass trade pacts with Peru, Colombia and Panama, and promised to strengthen job re-training programs and other measures to help workers displaced as a result of trade-related job losses.
Sunday, October 14th 2007 - 20:00 UTC
Gap between US richest and poorest at its widest in 25 years

The gap between United States richest and poorest is at its widest in 25 years with the wealthiest taking home a record share of the nation's income that exceeds even the previous high in 2000, according to recent data from the Internal Revenue Service, IRS.