Economy

• 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.

• Tuesday, August 21st 2007 - 21:00 UTC

  World economy prospects still good, says IMF

  

  Ministers responsible for the economy and finance, and governors and administrators of central banks from Africa and the International Monetary Fund officials are in Maputo Monday discussing the commitment of the Breton Woods institution towards the continent.

• Tuesday, August 21st 2007 - 21:00 UTC

  China hikes interest rates for the fourth time this year

  

  China raised interest rates on Tuesday for the fourth time this year in an attempt to control the country's economic expansion as stock prices hit another record high and inflation in July was the highest in a decade.

• Tuesday, August 21st 2007 - 21:00 UTC

  Mortgage buble: risk rating agencies to be grilled by US Senate

  

  Credit rating companies must “shoulder some responsibility” for sub-prime mortgage bonds that have sparked a crisis in credit markets said United States Senator Richard C. Shelby, the Senate Banking Committee's top Republican.

• Tuesday, August 21st 2007 - 21:00 UTC

  Latam business climate “remains favorable”, says FGV

  

  Latinamerica business climate remained favorable in July and reached its highest level since April 2000, according to the quarterly report from the prestigious Brazilian Foundation Getulio Vargas, FGV.

• Saturday, August 18th 2007 - 21:00 UTC

  Argentina plays tariffs to help industry and agriculture

  

  Argentina announced Friday custom duties and tariffs to restrict imports of certain goods that are having a negative impact on its industry. Sectors benefited include tires, bicycles, foot wear, auto parts, leather goods, toys and textiles.

• 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.