Economy

Saturday, August 18th 2007 - 21:00 UTC
ECB reiterates commitment to “price and financial stability”

The European Central Bank will do its job to preserve price stability, ECB governing council member and president of Germany's Bundesbank Axel Weber reiterated Friday.
Saturday, August 18th 2007 - 21:00 UTC
Sub-prime quake: EU will review credit rating industry

The European Commission is planning to review the credit rating industry after suggestions the sector was too slow to warn on the US sub-prime loans crisis, according to The Financial Times.
Saturday, August 18th 2007 - 21:00 UTC
Argentine economy grows 8.4%; unemployment down to 9.8%

The Argentine economy expanded 8.4% during the first half of 2007 compared to a year ago reported Friday the country's Statistics and Census Office, Indec. President Nestor Kirchner also announced that unemployment in the second quarter of 2007 dropped to 8.5% of active population.
Friday, August 17th 2007 - 21:00 UTC
Federal Reserve loosens credit to banks and markets react positively

World markets on Friday reacted firmly back to positive following the Federal Reserve announcement that it would cut the rate at which it lends banks to inject more liquidity into the financial system
Thursday, August 16th 2007 - 21:00 UTC
Fears of worse to come make markets immune to liquidity injections

A week after share prices around the world first began to fall markets in Asia on Thursday were still on the way down following on the volatility that has gripped United States and European markets.
Thursday, August 16th 2007 - 21:00 UTC
The “Uruguayan formula” secures Argentine natural gas for Chile

Chilean gas company Metrogas has succeeded in securing additional natural gas from Argentina to supply its needs for Santiago. The new agreement, dubbed “the Uruguayan Formula,” involves importing gas which was originally meant for Uruguay to Chile.
Thursday, August 16th 2007 - 21:00 UTC
Paulson: risk re-pricing “inevitable”, but no recession

United States Treasury Secretary Henry Paulson said the current turmoil in financial markets will slow economic growth but should not spark a recession, according to a report published Thursday in The Wall Street Journal.
Thursday, August 16th 2007 - 21:00 UTC
Black Thursday for markets but mixed signals from Wall Street

Global markets plunged again on Thursday with London's main FTSE 100 index seeing its sharpest fall in four-and-a-half years, but in New York Wall Street shares staged a dramatic recovery after suffering heavy losses earlier in the day.
Wednesday, August 15th 2007 - 21:00 UTC
US markets remain volatile; in EU risk pricing “normalizing”

United States shares have fallen again with problems in the mortgage sector continuing to have an adverse effect on market sentiment but also on warnings from two big retailers Wal-Mart and Home Depot.
Wednesday, August 15th 2007 - 21:00 UTC
Another record crops season in the making for Argentina

Argentine farmers are expected to dedicate 12% more land to corn in the 2007/08 crop despite dry conditions and a shortage of seed and fertilizer, a corn producers' group said this week.