Economy
EconomySterling holders interest in property moves to Netherlands and Germany
Sterling holders interest in hitherto hot overseas property destinations has decidedly cooled due to the recession, a report out this week showed. Searches for property in the United Arab Emirates, which includes Dubai, have dipped 80% in the last two years, the report from foreign exchange company Moneycorp and the Rightmove property company found.
China on course to become biggest foreign direct investor in Brazil
China's direct investment in Brazil has surged, putting China on course to be the biggest foreign direct investor in Latin America's largest economy this year.
New York Fed will buy 18 billion of Treasury debt in nine operations
The New York Federal Reserve announced Wednesday it will buy about 18 billion US dollars of Treasury debt in nine operations from August 17 through September 13.
Chinese industrial growth slows down for fifth consecutive month
Chinese industrial growth slowed again in July, adding to data suggesting that the country's economy is cooling. Factory output was up 13.4% from July 2009, but this was the fifth consecutive month the annual pace had slowed and the lowest rate of 2010.
Private sector anticipates strong performance of Argentine economy in 2010/11
Argentina’s Finance Executive's Institute (IAEF) indicates Argentina could grow 6.5% in 2010 and 4.5% in 2011 according to its August report released this week.
China’s import growth slowed down in July, while exports kept rising
China's import growth slowed in July, which economists are seeing as a sign that the country's rapid economic expansion is cooling. Imports climbed by 22.7% compared with a year ago to 116.8 billon US dollars, which is well below the 53% expansion seen in June.
Japan leaves benchmark rate on hold; fears Chinese slowdown
Japan's central bank has kept its benchmark interest rate unchanged as it tries to nurture the country's slow recovery from recession while also attempting to tackle deflation. Rates have been held at 0.1% since the end of 2008.
Fed admits modest US recovery and will buy long term government debt
The US Federal Reserve announced Tuesday steps to boost economic recovery and will be using proceeds from its investments in mortgage securities to buy longer-term government debt. The Fed also kept interest rates unchanged at between zero and 0.25%.
Two leading Brazilian banks join to expand operations in Africa
Two leading Brazilian banks have agreed to acquire stakes in BES Africa, a holding company belonging to Portugal’s biggest publicly traded bank that makes investments in Africa.
Uruguay concerned with labour demands and fishing vessel seizures in Montevideo
Alleged labour disputes involving hundreds of thousands of US dollars have left seven Spanish fishing vessels legally stranded in Montevideo, threatening the reputation of Uruguay’s main port to continue as a South Atlantic fisheries hub.
