Peru seeks stronger trading ties with China
May 30, 2005
In a trade mission to China this week, president Alejandro Toledo of Peru will urge China to make Peru an important partner in investment. Mr. Toledo will attempt to get the Chinese to agree to lower tariffs, as well as to invest in airlines, oil exploration and in the development of ports. Peru is […]
Greens slow corporate tax reform before election
May 27, 2005
The Green party in German has put the brakes on a bill that would have cut corporate taxes in that country. The bill has been controversial ever since its introduction, mostly because of its reliance on credits to pay for the revenue lost to the tax cuts because of the low levels of public […]
OECD recommends eurozone cuts
May 25, 2005
In its twice-yearly report on the outlook of the global economy, the Organization for Economic Co-operation and Development called Tuesday for eurozone interest rates to be reduced by 0.5 percent. This contradicts the position taken by the European Central Bank, which insists that a drop in interest rates would be harmful, is not supported […]
Brazil reports increased destruction of rainforests
May 19, 2005
Brazils ministry of environment released data this week showing that in the twelve months that ended in August, 2004, about 26,130 square kilometers of Amazon rainforest disappeared. Almost half of the new deforestation took place in the Brazilian state of Mato Grosso, an important agricultural region in the western part of the country, and […]
BoE retains rate at 4.75 percent
May 18, 2005
The monetary policy committee of the Bank of England voted 8 to 1 to leave interest rates in the UK at their present rate of 4.75 percent, minutes of the most recent meeting reveal. The minutes were released on Wednesday. The minutes also showed that the only member of the committee to vote for […]
Australia launches economy-saving tax-cuts
May 11, 2005
Larger-than-expected tax cuts were announced Tuesday by the centre-right coalition government in Australia. The cuts are meant to stop an economic slowdown that will probably have the nation showing its lowest growth rate in over ten years. The Treasury cut its prediction of growth in this fiscal year to 2 percent, where six […]