Tag: economy

• Wednesday, May 5th 2010 - 06:33 UTC

  Australia Raises Interest Rate for the Sixth Time in Eight Months

  

  Australia's central bank has raised interest rates for the sixth time in eight months as the country's economy continues to recover. The target interest rate is now at 4.5%—up from 3% in October last year.

• Wednesday, May 5th 2010 - 06:28 UTC

  EU Anticipates Further Regulation for Credit Rating Agencies

  

  A European Commissioner has warned it may be necessary to further regulate the role of credit rating agencies. Michel Barnier, in charge of revamping financial services, told the European Parliament he had been surprised by the rapid deterioration of Greece's rating.

• Wednesday, May 5th 2010 - 06:14 UTC

  China’s Tightens Credit, Pushes Stock Markets to their Lowest in Seven Months

  

  China's stocks fell on Tuesday sending the benchmark index to the lowest in seven months, on concern ordering banks to set aside more reserves won't be enough to avert asset bubbles in the world's third-largest economy.

• Wednesday, May 5th 2010 - 06:07 UTC

  Obama Administration Pushes for Fee on Large Banks to Pay for Bailouts

  

  United States big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, US Treasury Secretary Timothy Geithner told lawmakers as he sought support for the proposal.

• Wednesday, May 5th 2010 - 06:03 UTC

  IMF Anticipates Good Prospects for Argentine Defaulted Bond Swap

  

  Given the high levels of global liquidity, Argentina should succeed in restructuring its 20 billion US dollars in defaulted bonds according to a senior official from the International Monetary Fund.

• Wednesday, May 5th 2010 - 02:54 UTC

  Argentina with the Highest GDP Per Capita PPP in 2009

  

  Argentina became the richest country in Latin America in 2009 as measured by GDP per capita purchasing power parity, PPP, according to a Latin Business Chronicle analysis based of new data from the International Monetary Fund.

• Wednesday, May 5th 2010 - 02:49 UTC

  EU Wants to Reactivate Negotiations with Mercosur for Association Agreement

  

  The European Commission (EC) has proposed to reactivate its negotiations with Mercosur, stagnant since 2004, with the objective of reaching an association agreement. In its weekly meeting, the EU executive decided to re-establish discussions with Mercosur since it considers “that an eventual pact could generate economic benefits for both parts,” according to an EC communiqué.

• Wednesday, May 5th 2010 - 02:06 UTC

  Brazil to Announce Exports’ Stimuli Measures to Compensate for Strong Real

  

  The Brazilian Government is expected to announce Wednesday a number of exports' stimulation measures in order to try to compensate the area which claims losses caused by the strong Brazilian currency exchange rate and the drop of global commerce.

• Tuesday, May 4th 2010 - 19:20 UTC

  IMF Says Latam Recovering Faster than Expected but With “Bubble” Risks

  

  The recovery in Latin America and the Caribbean is advancing faster than anticipated but at different speeds across countries, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook-Western Hemisphere report, which was launched Tuesday in Montevideo, Uruguay.

• Tuesday, May 4th 2010 - 05:48 UTC

  European Central Bank Beefs Greek Rescue-Plan; Takes “Junk” Bonds as Collateral

  

  The European Central Bank (ECB) has moved to shore up the €110 billion EU/IMF rescue of Greece by offsetting the impact of the “junk” rating on the country’s debt.