Economy

Thursday, March 1st 2007 - 21:00 UTC
Brazil grows 2.9%; reserves reach record 100 billion

Brazil's economy expanded 2.9% last year compared to 2.35% in 2005 according to the latest official release on Wednesday. In the fourth quarter GDP increased 1.1% over the third quarter and 3.8% over the same period in 2005, reported the Brazilian Institute of Geography and Statistics.
Thursday, March 1st 2007 - 21:00 UTC
Shanghai and Wall Street rebound, but volatility looms

Chinese stock markets rebounded Wednesday following their deepest fall in a decade but most markets in Asia and Europe kept sliding for a consecutive second day amid fears of a slowing of China and the United States economies.
Thursday, March 1st 2007 - 21:00 UTC
New hopes for the WTO Doha round negotiations

Top trade negotiators from the United States, the European Union, Brazil and India are scheduled to meet in London and Geneva this weekend to discuss stalled World Trade Organization efforts to liberalize global commerce said Brazilian officials on Thursday.
Thursday, March 1st 2007 - 21:00 UTC
Global markets fail to recover on fears of corporate earnings

World shares dropped for a third day Thursday on concerns about growth in leading economies and the outlook for corporate profits. A large slide in Europe and Asia was compounded by a drop on US indexes.
Wednesday, February 28th 2007 - 21:00 UTC
Uruguayan economy grew 6.5% in 2006; GDP 19.5 billion

Uruguay's economy expanded 6.5% in 2006 said President Tabare Vazquez according to a draft copy from his state of the nation speech to be delivered March first. This is half a point less than the 7% originally estimated.
Tuesday, February 27th 2007 - 21:00 UTC
China's black Tuesday spills to the global economy

Stock markets round the world slumped Tuesday to record lows of 2001 and 2004, with the US Dow Jones index plummeting by more than 400 points and Latinamerican markets posting sharp losses averaging 4%.
The sell-off was sparked by a near 9% down slide on the Shanghai Composite Index, (the worst in a decade) as investors worried that China may pass rules to limit demand for stocks. Banks, automobiles and steel companies were hardest hit.
Tuesday, February 27th 2007 - 21:00 UTC
El Niño subsides: fishermen celebrate, farmers fear drought

By next May the “El Niño” phenomenon, which warms the Pacific Ocean by an average of 1.5 degrees Celsius (3.5 degrees Fahrenheit), will have completely disappeared.
While Chile's fishing industry utters a loud sigh of relief ÃÂ¢€“ cooler water means larger catches ÃÂ¢€” the departure of El Niño could cause severe problems for the agricultural sector, which may be facing drought.
Monday, February 26th 2007 - 21:00 UTC
Euro zone concerned with falling Yen and US dollar

European finance ministers meeting in Brussels opened their monthly meeting Monday with European Central Bank President Jean-Claude Trichet, downplaying fears of inflation and calling for exchange rates to stabilize
Monday, February 26th 2007 - 21:00 UTC
Greenspan forecasts “possible” US recession end of 2007

Former Federal Reserve Chairman Alan Greenspan said Monday in a video conference with Hong Kong businessmen that a recession in the United States economy was “possible” at the end of the year because the economy has grown since 2001.
Sunday, February 25th 2007 - 21:00 UTC
US severe poverty reached 32-year high: 16 million people

The gap between the “haves” and “have-nots” in United States keeps widening and the percentage of US citizens who are living in deep or severe poverty has reached a 32-year high, 16 million, according to a report from McClatchy Newspapers.