Economy

Thursday, May 17th 2007 - 21:00 UTC
World Bank begins nomination process to replace Wolfowitz

The World Bank Board announced late Thursday that President Paul Wolfowitz will resign June 30, putting an end to his two year controversial tenure finally undermined by the generous compensation he arranged for his girlfriend.
Thursday, May 17th 2007 - 21:00 UTC
Argentina's economy expands 8% in first quarter

Argentina's economy expanded 7.6% in March compared to a year ago and accumulated 8% growth in the first quarter of the year according to a release from the country's Statistics and Census Office.
Friday, May 11th 2007 - 21:00 UTC
Bank of England raises interest rates to six year high, 5.5%

The Bank of England on Thursday raised interest rates by 25 basis points to a six-year high of 5.5% as expected. It's the fourth increase in nine months, lifting the benchmark interest rate to its highest level since April 2001.
Friday, May 11th 2007 - 21:00 UTC
US March trade deficit up but 2007 first quarter is down 5.7%

The United States trade deficit widened by more than expected in March, as higher oil and petrol prices sent imports to the second-highest level on record.
Friday, May 11th 2007 - 21:00 UTC
Euro benchmark interest rate unchanged at 3.75%

The European Central Bank decided on Thursday's meeting, held in Dublin, to maintain the benchmark interest rate on hold at 3.75%. However many analysts believe ECB's “strong vigilance” could see rates rise as early as June to keep inflation in check.
Friday, May 11th 2007 - 21:00 UTC
Warnings of “speculation bubble” in Shanghai's stock market

China's booming A-share market could turn into a bubble if speculation among exuberant domestic retail investors is not curbed, Goldman Sachs warned Thursday, as the Shanghai Composite Index hit yet another intraday record high.
Friday, May 11th 2007 - 21:00 UTC
Magallanes record unemployment is Chile's regions lowest

Magallanes in the extreme south is Chile's region with the lowest unemployment in the first quarter of 2007 according to the latest release from the national Statistics Office.
Friday, May 11th 2007 - 21:00 UTC
China's trade surplus almost doubles in four months of 2007

China's April trade surplus more than doubled from March, the government said Friday, as a mission on a US tour signed billion-dollar deals in a bid to narrow the trade gap.
Friday, May 11th 2007 - 21:00 UTC
Peru optimistic about ratification of FTA with the US

Peru's Ministry of Foreign Trade and Tourism Mercedes Araoz announced that preliminary amendments to the United States-Peru Free Trade Agreement will be ready sometime next week enabling its ratification by the US Congress.
Wednesday, May 9th 2007 - 21:00 UTC
Chile: ASEXMA urges government to act on low dollar

After the U.S. dollar hit a new low last Friday, Patricia Pérez, president of the Export Manufacturing Association (Asexma), warned of the serious threat posed to Chile's exporters and manufacturers.