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Founded in 1876

Wednesday, October 10, 2007

Edition Nº 1783


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Home > Business

Markets Oct 9, 2007

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Markets
US, Brazil reach record highs

NEW YORK —The Dow Jones industrial average and Standard & Poor’s 500 index hit new records yesterday.
The minutes from the Federal Open Market Committee’s Sept. 18 meeting, when Fed governors voted unanimously to cut rates a half percentage point, also showed that officials were concerned that the weakness in... Read More

EU puts China at top of currency offenders list

LUXEMBOURG — Irked by the relentless ascent of their currency, euro zone finance ministers have decided to target China’s yuan as the chief culprit in a quest for fair play on global exchange rates and trade.
They made the point after talks on Monday to agree a common stand for a... Read More

Putin: fewer foreigners in businesses

MOSCOW — President Vladimir Putin said yesterday that there should be fewer foreigners in high-level positions at Russian companies.
Putin, who has been very wary about foreign influence, urged Russia to rely more on its own products — and included foreign managers with imported goods.
“It’s necessary to start with personnel, with... Read More

‘Ice to the Arctic:’ Taco Bell to Mexico

MEXICO CITY — It sounds like a fast-food grudge match: Taco Bell is taking on the homeland of its namesake by reopening for the first time in 15 years in Mexico.
Defenders of Mexican culture see the chain’s re-entry as a crowning insult to a society already overrun by US chains... Read More

Japanese buy Iranian oil in yen
The moves by the two oil refiners Cosmo Oil Co. and Japan Energy Corp. , as well as a similar step taken in September by Nippon Oil Corp., the Japan’s largest refiner, may trigger other Asian refiners to move away from US dollar payment.
Japanese companies move away from buying Iranian oils in dollars, as the middle eastern country try to reduce its dollar holdings. Read More

EU cagey about inspections
Brazil’s meat may see ban

BRUSSELS — The European Union may resort to a ban on Brazilian meat imports if the South American agricultural giant does not improve food safety standards, the EU's health chief said yesterday.
“We do identify weaknesses in Brazil and we have put pressure on Brazil to respond,” European Health Commissioner Markos... Read More

Egypt buys up wheat

CAIRO— The Egyptian state's main wheat buying agency said on Tuesday it wanted to buy 55,000 to 60,000 tons of US, French, Australian, Canadian, German, Argentine and/or Kazakhstan wheat for shipment Nov. 1-15 and/or Nov. 16-30.
Tenders should reach Egypt's General Authority for Supply Commodities (GASC) by 12 p.m. local... Read More

Guyana to block rice bid

Guyanese officials vowed yesterday to use the Caribbean Community to block Jamaica’s bid to import US rice, arguing that they can supply most of the island’s grain needs instead.
Guyana, the region’s largest rice producer, can export enough rice to meet most of Jamaica’s 80,000-ton annual needs, and will try... Read More