Economy

German onion prices slightly higher
As a result of a lively demand, especially as far as export to Eastern and Southern Europe is concerned, the prices for onions in Germany have risen somewhat. Yellow onions are between Euro 12 and Euro 14 per 100 kgs. (ex station). The price for red onions has remained stable at Euro 20 per 100..... 0 comments

Malaysia - Closer farm ties with Pakistan
Malaysia should not just look at enhancing bilateral ties with Pakistan, but also endeavour to forge trilateral cooperation with Middle East countries especially in the halal food industry as well as other products and services.In making the call, Masood Khalid, Pakistan's Foreign Ministry Additional Foreign..... 0 comments

Singapore economy expands for 2nd straight quarter
Singapore said its economy would expand as little as 3 percent in 2010, well below the high growth rates of past years because of a sluggish recovery in the U.S. and other developed countries.The forecast came Thursday as the city-state reported a second straight quarter of economic growth with the..... 0 comments

German Economy Minister - economy recovery hopes 'justified'
German Economy Minister Rainer Bruederle told Reuters on Thursday the economy faced certain risks but there was 'justified hope' for a sustained recovery.Bruederle said the new centre-right government would do everything in its power to ensure economic growth, pointing to tax cuts planned for next..... 0 comments

Chile Peso Ends Firmer At 16-Month High, Shrugs Off GDP Data
The Chilean peso ended stronger against the U.S. dollar Wednesday, rising to a third consecutive 16-month high close, on higher international copper prices and the euro's gains against the greenback.The currency shrugged off the third quarter gross domestic product data, which showed the economy contracted..... 0 comments

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Dollar Falls Against Yen, Rises Against European Majors
Thursday morning in Asia, the U.S. dollar declined against the Japanese yen, but it edged up against the currencies of Switzerland, Europe and U.K. The dollar climbed to a 3-day high against the pound.A report from the U.S. Labor Department showed yesterday that consumer prices increased for the third..... 0 comments

Spanish Proexport sells 22% less cabbage
The Spanish producers and exporters organisation Proexport reports a decrease in turnover of 20 percent in cabbage sales. During last season the organisation sold 22% less green cabbage compared to the previous season. The totalis 228,986 tons. The sale of broccoli decreased by 18% to 87,203 tons. The..... 0 comments

"Vegetables from France" under pressure
This year 20 to 30% of the growers of vegetables run the risk of insolvency. Because of this development and the economicrecession"Légume de France", a special interest group for vegetable growers, will hold a meeting on 19 and 20 November. "The prices of vegetables for the period from April to August have..... 0 comments

Thai economy may grow 5 pct in 2010-deputy PM
Thailand's economy could grow as much as 5 percent next year if there is political stability, the country's deputy prime minister in charge of the economy said on Wednesday, though he called the baht's rise a concern."If politics are stable, 5 percent is not something that is unreachable," Deputy Prime..... 0 comments

Venezuela’s 2009 GDP May Shrink 2.2%, Rodriguez Says
Venezuelan Finance Minister Ali Rodriguez said the economy may shrink 2.2 percent in 2009, slashing an earlier forecast for zero growth after falling oil output pulled the economy into its first recession since 2003.Gross domestic product shrank 4.5 percent in the third quarter from a year earlier, the..... 0 comments

Euro higher as officials try to support dollar
European Central Bank President Jean-Claude Trichet again backed comments by his U.S. counterpart, Federal Reserve Chairman Ben Bernanke, who earlier this week noted the importance of a strong dollar."I have repeatedly been on the record in saying that I appreciate the statements made by the U.S. President,..... 0 comments

Trade and the revaluation of the yuan still loom large as US president's visit comes to an end
Obama fails to breach China's greatest wall: the price of its currency
There were no great announcements and no magical breakthroughs. But Barack Obama was taking the long view as he rounded off his three-day visit to China with a sightseeing trip to the Great Wall."It's magical. It reminds you of the sweep of history," he said, after walking along the snowy parapets for around..... 0 comments

Canadian Dollar Bounces Back Against Greenback And Yen
In early European deals on Wednesday, the Canadian dollar recouped its Asian session's loss against the currencies of U.S. and Japan as oil rose toward $80 per barrel today.On the other hand, the loonie remained lower against the euro and it eased from a 5-day high against the aussie.Oil climbed today after..... 0 comments

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Chile peso up slightly after hitting 17-month high
Chile's peso CLP= rose slightly on Wednesday after hitting 17-month highs that increased the likelihood of threatened central bank intervention to tame the sharp appreciation.The peso rose 0.20 percent to 492.50/493.00 per U.S. dollar on broad dollar weakness and higher copper prices. The currency has firmed..... 0 comments

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China’s CPI to remain at ‘Relatively Low Level,’ Yao says
China’s consumer price index will remain at a “relatively low level” for the rest of the year, Yao Jingyuan, chief economist at the National Bureau of Statistics, said at a conference in Guangzhaou today. “I personally don’t think inflation is a big concern,” said Yao. “There are inflationary expectations..... 0 comments

Euro may regain fundamental control with its own with GDP numbers
The euro is still the fundamental chameleon of the currency market. Without particularly stimulating forecasts for interest rates (hawkish or dovish) or an economic recovery that looks to keep pace with the US or Japan through 2010; the world’s second most liquid currency doesn’t have the kind of influence..... 0 comments

Chinese economy target of international trade war
The global economic crisis has hit many people hard, affecting people’s daily life in most countries. As more countries are faced with job losses, company failures, and stagnant sales, new trade disputes are commonplace. The current decline in purchasing power has triggered an escalating trade war in the..... 0 comments

Philippines: Global Source cuts RP inflation forecast to 3.2%
New York-based think-tank Global Source Partners has scaled down its inflation forecast this year to 3.2 percent, from an earlier 3.4 percent, despite temporary price spikes brought about by damages caused by tropical storm Ondoy and typhoon Pepeng.In its latest quarterly outlookon the Philippines, Global..... 0 comments

British pound could see breakouts versus euro, US dollar
The British Pound was among the top performing currencies to finish the week’s trade, as relatively bullish fundamental developments helped push the currency from major bearish sentiment extremes. The highly-anticipated Bank of England monetary policy statement predictably shook FX markets, sending the..... 0 comments

Ukraine's inflation tops 10% in year to September
Inflation in Ukraine reached 10.1% in the first nine months of the current year, the economics ministry said on Saturday.This is 0.6% over the government's inflation assumption for the year (9.5%). October inflation was 0.9%.Consumer prices were up 14.1% in October 2009, year-on-year.Producer prices rose..... 0 comments

Dollar slides on G20-fuelled risk appetite, IMF
The dollar weakened broadly on Monday after a G20 meeting and U.S. jobs data did little to alter the view that U.S. interest rates will stay low for some time, offering investors little incentive to buy the currency.Sterling, also aided by position adjustments and talk of merger and acquisition-related..... 0 comments

Canadian currency gains for first week in three as stocks rally
Canada’s dollar gained against its U.S. counterpart for the first week since mid-October as stocks and crude oil advanced and gold surged to a record, burnishing the appeal of higher-yielding assets.The currency, nicknamed the loonie for the image of the aquatic bird on the C$1 coin, trimmed the advance when..... 0 comments

Euro-Zone economy could grow 2% in 2010, 1.5% in 2011
The euro-zone economy could grow 2% next year, faster than the European Central Bank and the European Commission expect, Allianz SE (AZ) said in a report published Monday.Allianz's forecast, prepared for the Lisbon Council, a Brussels think-tank, suggests the euro-zone economy will bounce back rapidly from..... 0 comments

Singapore's GDP growth seen at 3 pct in 2010
Singapore's economy could grow at a 3 percent annual rate in 2010, a senior government minister said in remarks published on Monday, recovering from a contraction this year.This is the first time a government official has put a number to 2010 growth, according to the Straits Times newspaper.The government..... 0 comments

Irish economy to grow 2-3 pct in 2011
Ireland's economy will start growing again around the end of next year, with annual growth of 2 or 3 percent expected in 2011, Prime Minister Brian Cowen said on Thursday.'We'll see at the back end of next year growth returning to our economy. We'll see the following year, for the first year, growth..... 0 comments

Taiwan's CPI falls again
Taiwan said consumer prices fell for the ninth straight month in October as cheaper vegetable prices offset higher crude oil.The consumer price index dropped 1.84 per cent year-on-year, compared with a revised 0.88 per cent decline in September, the Directorate General of Budget, Accounting and Statistics..... 0 comments

Venezuela inflation slows in October on bolivar gains
Venezuelan monthly inflation slowed in October as imported food, alcoholic beverages and tobacco costs eased after the bolivar strengthened in the unregulated parallel currency market.Consumer prices rose 2.1 percent in October from the previous month, compared with the 2.6 percent rise in September,..... 0 comments

Dutch consumer price inflation rises in October
Netherlands' Central Bureau of Statistics announced that the consumer price index or CPI rose 0.7% year-on-year in October, faster than the 0.4% growth in the previous month. Economists expected an increase of 0.6%. A year earlier, the CPI was up 2.8%.On a monthly basis, the CPI increased 0.1% in October,..... 0 comments

Aussie dollar set for weekly gain as RBA raises growth outlook
The Australian dollar strengthened, poised for its biggest weekly advance in a month, as the central bank signaled it will add to two interest-rate increases over the past month because the economy’s expansion will accelerate.“A further gradual lessening of monetary stimulus is likely to be required over..... 0 comments

Swiss CPI continues to Fall in October
Switzerland's consumer price index or CPI fell 0.8% year-on-year in October, the Federal Statistical Office said Thursday. Economists had expected a decline of 0.7% following September's 0.9% fall. A year ago, inflation was 2.6% in October.On a monthly basis, the CPI rose 0.6% after zero growth in September..... 0 comments

US dollar and Japanese yen advances as most Asian stocks fall
During early Asian deals on Thursday, the US dollar and the Japanese yen edged higher against their major counterparts as a fall in most Asian stock prices boosted demand for currencies perceived as safe havens.The dollar and the yen are viewed as safe-haven currencies and both currencies gain, when..... 0 comments

Coming to Fruition
The Ecuadorian company Forza Frut is putting down roots in Mexico and seducing the world’s palate with the quality of Mexican bananas.
Forza Frut’s story goes back to the partnership between Pascuale Mastricci and Luis Fernando Rivadeneira Dávalos, who have a combined experience of 50 years exporting fruit and vegetables from Ecuador and Mexico to be distributed in the European market.The company is of Ecuadorian origin and started with an..... 0 comments

Global crisis cuts value of Kenya’s exports to the UK
The value of Kenya’s exports to the United Kingdom slowed down over the second quarter of the year on the effects of the global economic downturn that saw consumer demand heavily weakened, new data shows.Statistics released on Wednesday by the British High Commission in Nairobi revealed a gradual decline of..... 0 comments

UAE: Abu Dhabi's GDP grew 30 percent in 2008
Despite the global financial crisis and a sharp rise in commodity prices, Abu Dhabi's gross domestic product (GDP) rose from 17.2 percent in 2007 to 30 percent in 2008, WAM news agency reported Wednesday.The Abu Dhabi Economic Report 2009, which made the observations, was released by the Department of..... 0 comments

New Zealand’s rising jobless rate, currency gains slow recovery
New Zealand’s unemployment rate rose to a nine-year high in the third quarter, a report showed today, as central bank Governor Alan Bollard said a strengthening currency will slow the nation’s recovery from a recession.The jobless rate increased to 6.5 percent from 6 percent in the previous three months,..... 0 comments

Typhoon damage pushes Philippine inflation higher
Inflation in the Philippines rose to 1.6 percent last month as damage to agriculture from four successive typhoons boosted prices, authorities said Thursday.The rate marked an increase from 0.7 percent in September and from a two-decade low of 0.1 percent in August, the National Statistics Office said."As..... 0 comments

Large Ukraine wage increases could spur inflation,job cuts
The International Monetary Fund's Ukrainian mission chief says boosting public-sector wages and pensions by more than 10% could stoke inflation or necessitate significant job cuts.The IMF and certain Ukrainian officials are at odds over recently signed legislation that would boost government-sector wages and..... 0 comments

Aussie economy robust
Lower interest rates and the federal government's stimulus spending are responsible for Australia's relatively stable economy, Westpac boss Gail Kelly says.Kelly said she was surprised how quickly the Australaian economy had recovered from the worst of the global financial crisis."It's been actually quite..... 0 comments

Ireland: Consumers' confidence hits an 18-month high
Tentative signs of consumer confidence emerged yesterday in figures which indicate consumers feel the worst is over for the economy.The index that measures how consumers feel about their finances reached its highest level for 18 months in October.The KBC Ireland/ESRI Consumer Sentiment Index improved to 54.2..... 0 comments

East German economy catching up fast
As Germany prepares to celebrate 20 years since the fall of the Berlin Wall, a new study has shown that the former communist East German economy has caught up with the west much faster than most think.Standards of living in the east have soared so much that the billions of euros (dollars) the west has..... 0 comments

EU raises 2010 GDP forecast as deficits, jobless soar
The euro-area economy may expand 0.7 percent next year, the European Commission said, raising its forecast even as budget deficits and jobless ranks swell further.The economy of the 16 countries sharing the euro will resume growth in 2010 and expand 1.5 percent in 2011, after contracting 4 percent this year,..... 0 comments

Finnish GDP to grow 2 pct/yr after crisis
Finland's economy is seen growing around two percent per year once it stabilises after the global financial crisis, the finance minister said on Tuesday.'We estimate that Finnish economic growth in a normal cycle will be around two percent,' Finance Minister Jyrki Katainen said, speaking at a seminar on..... 0 comments

Kenya records lower inflation in October
Kenya’s inflation rate came down to 6.6 percent for the month of October from 6.7 percent in September.This came as the Kenya National Bureau of Statistics (KNBS) said it had shifted to using a geometric mean method of calculating inflation.KNBS Director General Anthony Kilele said the switch from the..... 0 comments

US: Dollar higher against risk-sensitive currencies
The dollar remained higher against most currencies in arly afternoon trading Tuesday, but pared its gains against the pound and some other risk-sensitive units as commodities, most notably gold, strengthened.The greenback had rallied substantially in earlier trading as stocks wilted and investors shunned..... 0 comments

World Bank raises forecast for China's economy
The World Bank on Wednesday became the latest major institution to raise its forecast for growth in China — a reflection of that country’s rapid rebound this year — though it cautioned that more policy adjustments would be necessary in the medium term to ensure the country’s recovery would be..... 0 comments

Growth forecast favors U.K
The U.K. government received a rare piece of good news Tuesday from a European Commission forecast that the British economy would outpace the euro zone's over the next two years.The commission said it expects U.K. gross domestic product to expand 0.9% in 2010 and 1.9% in 2011, outpacing growth of 0.7% next..... 0 comments

Canadian dollar surges up against major rivals
The Canadian currency surged up further and hit new multi-day highs against major opponents in New York trading.After ticking down in early morning deals, the loonie advanced against the US dollar in New York mid-day trading today. At 10:55 am ET, the loonie jumped to a 4-day high of 1.0684 versus the..... 0 comments

UK: Pound to drop to euro parity, become funding currency, LGT says
The U.K. pound may replace the dollar and the yen as the world’s biggest funding currency, dropping sterling to parity against the euro as the Bank of England buys more bonds to combat a recession, LGT Group said.Britain’s economy shrank for a sixth consecutive quarter in the three months to Sept. 30, the..... 0 comments

Yen declines as economic optimism may increase demand for yield
The yen fell against the New Zealand dollar and South African rand as renewed optimism the global economy is recovering spurred demand for riskier investments.The yen headed for a second day of losses against New Zealand’s currency before a U.S. report that economists said will show factory orders rebounded..... 0 comments

Won leads Asia currency gains as U.S. data spurs risk appetite
South Korea’s won led gains in Asian currencies after a gauge of U.S. manufacturing exceeded projections, brightening the outlook for regional exports and boosting demand for riskier assets.Seven of Asia’s 10 most traded currencies outside Japan gained against the dollar after the Institute for Supply..... 0 comments

Australia increases benchmark interest rate to 3.5%
Australia raised its benchmark interest rate by a quarter percentage point for the second straight month, becoming the only nation to increase borrowing costs twice this year as the global economy recovers.Reserve Bank Governor Glenn Stevens lifted the overnight cash rate target to 3.5 percent in Sydney..... 0 comments

Turkish bonds weaken, eyes turn to inflation
Turkish bonds and the lira lost ground on Monday as worries about sluggish economic recovery and hefty Treasury borrowing in 2010 weighed on investor mood, but late gains helped the equity market to stage a positive close.The lira closed weaker on the interbank market at 1.4960 against the dollar from..... 0 comments

Chile peso ends at year-to-date high on euro's gains vs dollar
The Chilean peso was stronger against the U.S. dollar Monday, climbing to a year-to-date high on the gains the euro posted in relation to the dollar and on the jump in U.S. stocks.The peso ended at CLP528.60 to the dollar, compared to CLP530.50 Friday, after moving in a narrow range of CLP528.00 to..... 0 comments

Russia’s inflation in 2009 to be lower than 10%
It is evident that Russia’s inflation in 2009 will be lower than 10 percent, first deputy chairman of the Central Bank of Russia (CBR) Gennady Melikyan said at a meeting with bankers.According to the results of “the year, inflation will evidently be lower than 10 percent, and even then because earlier it was..... 0 comments

US: FastStart becoming ambassadors for economic growth in area
Louisiana Economic Development Secretary Stephen Moret said he hoped all along that companies attracted to the state in part by the new work force training program FastStart would become ambassadors for other economic growth. His hopes are materializing.FastStart develops and implements comprehensive work..... 0 comments

UAE, UK strengthen ties as trade grows 63%
The UAE government and private sector have invested heavily in the United Kingdom over the past four years. Capital expenditure in UK investments is Dh30.9 billion ($8.4 billion), Gulf News has determined.According to recent reports and despite the economic downturn, trade between the UAE and the United..... 0 comments

China's economy expanded fastest in the world
China's vast manufacturing sector expanded in October at the fastest rate in 18 months, a survey showed on Sunday, and economists said they expected the momentum to be sustained in the coming monthsChina's manufacturing sector rose to 55.2 percent in October, up 0.9 percentage points from the previous month,..... 0 comments

Gulf economies to recover quicker, stimulus to stay
It is too early for policymakers globally to begin withdrawing large stimulus packages as revival from the crisis is not over yet, but Gulf Arab economies should recover faster than others, central bankers said on Sunday.The global economic turmoil sent key Gulf Arab economies -- Saudi Arabia and the United..... 0 comments

Canada dollar drops as officials say it’s too strong, oil falls
Canada’s dollar fell for a second consecutive week, driving the currency to a loss for the month, after officials warned that it’s too strong and crude oil and stocks slumped.The Canadian currency, nicknamed the loonie, tumbled the most against its U.S. counterpart over the past five days since June. A..... 0 comments

VN, Brazil expect exports to hit $1b
Trade value between Viet Nam and Brazil was forecast to reach US$1 billion next year, announced a seminar on business opportunities between the two countries held on Wednesday by the Export Assistance Centre of the Trade Promotion Department (TPD) under the Ministry of Industry and Trade.Brazil, the world’s..... 0 comments

South Korean trade balance on tap
South Korea is scheduled to release October numbers for imports, exports, trade balance and inflation on Monday, headlining a busy day for Asia-Pacific economic news. Imports are expected to fall 16 percent on year following the 10.8 percent annual contraction in September. Exports are seen lower by 11.8..... 0 comments

Australia to release ‘better’ GDP forecast, swan says
Australia will revise forecasts for growth and unemployment with figures “better” than those published in May, Treasurer Wayne Swan said.The government’s so-called mid-year economic and fiscal outlook will be published in Canberra tomorrow, the treasurer said in a statement on his Web site today.Australia’s..... 0 comments

'The India growth story is more compelling now'
He believes it is in India’s favour that the recent growth has been achieved without much support by way of government stimulus. He is convinced that the India story today is more compelling than ever before. Asia chairman Stephen Roach sees India’s growth averaging between 7.5% and 8.5%, but cautions that..... 0 comments

Euro advances against yen, dollar on signs of economic recovery
The euro rose against the yen and the dollar as signs the global economy is recovering trimmed demand for the relative safety of the U.S. and Japanese currencies.The Australian dollar climbed against all 16 most-traded currencies as Treasurer Wayne Swan said economic growth will be faster than expected and a..... 0 comments

NZ dollar dives, then recovers
The New Zealand dollar dived then recovered some ground today and currency watchers advised investors to hold on tight for a volatile week's trading.The NZ dollar fell as low as US71.50c today from US73.24c at 5pm on Friday. It recovered to be US72.19c by 5pm.Spooked investors bailed out of so-called risky..... 0 comments

Poland - Increase in food exports
Since entering the EU there has been a crackdown on what used to be Europe’s biggest black market in meat and food products as Poland used to act as the crossroads between East and West. Having said this there is still a large trade in out of date supermarket foods between Poland and the Ukraine .Polish food..... 0 comments

New Zealand dollar tumbles against majors
The New Zealand dollar tumbled against its major counterparts as the Reserve Bank of New Zealand kept its interest rates unchanged at a record low of 2.5% and said it will wait until the second half of 2010 before raising interest rates. A slump in equities also aggravated the weakness in the NZ dollar."In..... 0 comments

Euro sinks, analysts eye new downtrend vs dollar
The euro slid to a more than two-week low against the dollar Wednesday, as concern over the strength of the U.S. economic recovery added momentum to a broad correction sweeping across all asset classes.Disappointing U.S. housing data on Wednesday and anxious eyes fixed on Thursday's reading of third-quarter..... 0 comments

New Zealand dollar rises 2 pct vs U.S. currency
The New Zealand dollar jumped 2 percent versus the greenback on Thursday after strong U.S. gross domestic product data bolstered investors' appetite for higher-yielding commodity currencies.The kiwi dollar NZD= rose as high as US$0.7352, according to Reuters data. It was last at US$0.7342, up 2 percent on..... 0 comments

China's currency swap threatens the greenback?
Since December 2008, China has signed 650 billion yuan (US$95 billion) in currency-swap agreements with Indonesia, Malaysia, South Korea, Hong Kong, Argentina and Belarus, in order to promote greater circulation and convertibility of the Chinese currency (also referred to as the renminbi).Thailand is..... 0 comments

Spain Oct prices fall less than expected on energy
Spanish consumer prices fell less than expected in October, official preliminary data showed on Thursday, as base effects from energy costs lifted prices from July's record low.Spain's consumer price index fell 0.6 percent year-on-year in October, compared to -0.7 pct forecast by analysts polled by Reuters,..... 0 comments

Indonesia stocks, currency slump on concerns recovery will slow
Indonesian stocks plunged, with the benchmark index set for its biggest two-day drop in a year, on concerns the economic recovery will slow as governments unwind stimulus measures and as commodities dropped. The rupiah sank.The Jakarta Composite index lost 3 percent to 2,285.32 at the midday break, extending..... 0 comments

Australia inflation lessens risk of steep rate rise
Australian consumer inflation rose by more than expected last quarter as utility and fuel prices jumped, yet the increase was not considered alarming enough to justify a more aggressive tightening in interest rates.The Australian dollar dipped and interbank futures rallied as investors pared back the risk of..... 0 comments

US: Economy snaps long slump
The U.S. economy expanded in the third quarter after shrinking for four consecutive quarters, marking an apparent end to the worst recession since World War II. But the recovery is expected to be slow and painful, as companies shed jobs and credit remains tight.Gross domestic product expanded at a 3.5%..... 0 comments

Costa Rican exports to the US drop 15%
The sale of Costa Rican manufactured goods to the United States fell 15% this past year according to the Ministerio de Comercio Exterior (Comex).Comex says that exports to the US as of September 30th of this year was down by us$420 million dollars as compared to the same period in 2008, attributing the drop..... 0 comments

Rwanda: Unstable food prices push inflation to 5.7 percent
The annual inflation in the month of September rose by 0.09 percent to 5.7 percent from 5.41 percent in the previous month, according to the National Institute of Statistics of Rwanda (NISR).The institute attributed the increase in inflation to a 3.6 percentage point rise in food and non-alcoholic beverages..... 0 comments

SA: Rand drops as Gordhan says government will ‘Massage’ currency
The rand slipped to its weakest level in almost two months after Finance Minister Pravin Gordhan said South Africa’s government may “massage” the currency because it’s too strong.South Africa’s currency declined for a fourth day, losing as much as 1.6 percent to 7.7940 per dollar, the weakest intraday level..... 0 comments