US says Doha talks at risk of failure
GENEVA — The United States said on Tuesday that the long-running Doha round of global trade talks was at risk after a group of developing countries insisted they get favorable treatment in the negotiations. “We are very concerned about this proposal that came out today,” Sean Spicer, a spokesman for US Trade Representative Susan Schwab, said in a statement. "In fact, this proposal could signal the end of the Doha Round.” The US statement amounts to a challenge to India, Brazil and South Africa to affirm their support for the talks when they hold a summit in Pretoria on Oct. 17.

Chilean peso stronger as dollar weakens
SANTIAGO — Chilean Finance Minister Andrés Velasco said yesterday the Chilean peso's recent gains against the dollar were due to the dollar's weakness on global markets rather than intrinsic peso strength. Speaking to reporters, Velasco described the peso's appreciation to an 8-year high against the dollar as “limited” compared to the performance of other currencies against the dollar.

Rice: vital for US to approve LatAm trade deals
WASHINGTON — The US Congress would deliver a “great blow” to Peru, Panama and Colombia, as well as damage US interests in Latin America, if it fails to pass free-trade agreements with the three countries, US Secretary of State Condoleezza Rice said yesterday. “It would send a loud and clear message across the region that the United States cannot be trusted to keep its promises,” Rice said in a speech on US trade relations with Latin America at the Organization of American States

IMF cuts 2008 growth forecast
BERLIN — The International Monetary Fund will cut its 2008 growth forecast for all major economies in its World Economic Outlook set to be released next week, in the wake of the US subprime mortgage lending crisis, a person with access to the report said yesterday. The Washington-based group now expects global economic growth of 4.8 percent for next year, according to the person, who spoke on condition of anonymity because he was not authorized to discuss the report. The new global forecast was down by 0.4 percent from the 5.2 percent predicted in July, before global financial markets were shaken by the fallout from the subprime mortgage lending crisis in the United States.

Peirano looks to fix foodstuffs pricing
BUENOS AIRES — The minister of economy, Miguel Peirano, said yesterday that the government is working to secure an agreement with businesses for reducing the cost of foodstuffs to correspond to that of the common ‘basket’ of necessary foods. “We are analyzing several measures with that in mind and when decisions are made, we will report them in their due time,” he told reporters after a ceremony for the new project to raise the so-called wealth tax.
    (Herald staff with news agencies)