Tag: economy

• Friday, May 7th 2010 - 05:33 UTC

  ECB Leaves Euro Policy Unchanged; European Leaders Set to Approve Greek Rescue

  

  European Central Bank president Jean-Claude Trichet faced down pressure for new moves to shore up the weakest Eurozone countries, but kept options open even as he said Spain and Portugal were “not Greece”.

• Friday, May 7th 2010 - 05:31 UTC

  Chinese Shares Plunge to 8 Month Low on Fears of Tight Credit

  

  Chinese shares plunged to an eight-month low Thursday on persistent concerns over weak overseas markets and government measures to tighten credit and curb property speculation, dealers said.

• Friday, May 7th 2010 - 05:27 UTC

  Brazil’s Bovespa Plunges to a 3 Month Low and the Real to January 09 Level

  

  Brazil’s Bovespa stock index plunged Thursday to a three-month low, extending its drop in the past month to 12%, and the Real tumbled as concern Europe’s debt crisis will spread prompted investors to sell higher-yielding assets.

• Friday, May 7th 2010 - 00:40 UTC

  IMF Chief to visit Latin America, “Region Brimming with Energy and Promise”

  

  IMF Managing Director Dominique Strauss-Kahn will travel to Brazil and Peru from May 25-28 to meet with government leaders, leading figures from the private sector, and with students and academics as part of efforts to engage more closely with stakeholders in the region.

• Friday, May 7th 2010 - 00:38 UTC

  Greece Shocked by Riot Deaths; Parliament Approves Draconian Saving Reforms

  

  Greece's parliament approved Thursday the hefty cuts and reforms proposed by the government to address the country's financial crisis. Members voted 172-121 to pass the bill, which includes tax rises and cuts in pensions and public sector bonuses. Police used tear gas to disperse protestors who rallied outside. On Wednesday, three bank workers died in a petrol bomb attack as demonstrations over the planned austerity measures turned violent.

• Thursday, May 6th 2010 - 19:34 UTC

  France Warns EC on Possible Resumption of Negotiations with Mercosur

  

  After the European Commission proposed the resumption of negotiations with Mercosur, France released a warning message to the European Commission and assured that—if the talks are reactivated—both French and European agriculture would be in danger of a potential damage.

• Thursday, May 6th 2010 - 05:35 UTC

  Brazil Announces Financial Institution to Promote and Finance Exports

  

  Brazil on Wednesday announced long-awaited measures to boost exports at a time when the trade surplus in Latin America's largest economy is shrinking rapidly on a yearly basis. The government will create a lender, named EXIM Brasil, to help finance exports.

• Thursday, May 6th 2010 - 03:00 UTC

  Bad Signal: Spanish Government and Opposition Remain on Collision Course

  

  The Spanish government and opposition made on Wednesday an attempt to join forces against the country's economic crisis amid international concern that Spain could be heading for a Greek-style meltdown.

• Thursday, May 6th 2010 - 02:59 UTC

  Uruguay’s April Annualized Inflation above the 7% Target

  

  Uruguay’s April consumer inflation reached its highest level in thirteen months and for the second month running was above the 7% annual target, according to the latest report from the Statistics Institute.

• Wednesday, May 5th 2010 - 06:35 UTC

  Greek Aid Package Hard to Sell: Stock Markets World Wide Fall Sharply

  

  Stock markets fell sharply Tuesday as concerns about high levels of European government debt continue to shake investor confidence. The Euro fell to a 13-month-low against the dollar, dropping to 1.3004, after earlier slipping below the 1.30 mark.