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Archive for August 19th, 2008Oil prices leap after Venezuela eyes output cutPosted by UK Economy News
In UK financial news
19Aug 08 Crude oil prices spiked higher Tuesday after OPEC member Venezuela said it would ask the cartel at its September meeting to cut production if downward price pressure continues.
Read full story Venezuela takes over cement industryPosted by UK Economy News
In UK financial news
19Aug 08 The Venezuelan government has locked up control of more than 90 percent of the domestic cement industry with its nationalization of one foreign-owned plant and pressured buyout of two others.
Read full story Comments Off Venezuela backs production cut if oil prices keep falling: ministerPosted by UK Economy News
In UK financial news
19Aug 08 Venezuela will propose production cuts at the next OPEC meeting in September if oil prices continue to fall, Energy and Petroleum Minister Rafael Ramirez said Tuesday.
Read full story Comments Off China making ‘progress’ on currency: PaulsonPosted by UK Economy News
In UK financial news
19Aug 08 US Treasury Secretary Henry Paulson on Tuesday welcomed China's progress in allowing its currency to rise and called for more Chinese investment in the United States.
Read full story Comments Off Euro comes off six-month lows after weak US housing dataPosted by UK Economy News
In UK financial news
19Aug 08 The euro rebounded from six-month lows against the dollar after weak US housing market figures stoked fresh concerns over the outlook for the US economy.
Read full story Comments Off No recession in Germany, indicator suggestsPosted by UK Economy News
In UK financial news
19Aug 08 German investors do not expect a recession in Europe's biggest economy, a key indicator suggested Tuesday, as cheaper oil and a weakening euro ease some of the pressure on firms and consumers.
Read full story Comments Off US home construction plunges to 17-year lowPosted by UK Economy News
In UK financial news
19Aug 08 Construction of new homes in the United States plunged 11 percent in July to the lowest level in 17 years amid the worst housing slump in decades, government data showed Tuesday.
Read full story Comments Off US wholesale inflation at 27-year highPosted by UK Economy News
In UK financial news
19Aug 08 US wholesale prices spiked by their largest margin in 27 years in the year to July as inflationary pressures continue to roil the world's largest economy, a government survey showed Tuesday.
Read full story Comments Off Zimbabwe annual inflation rate soars to 11.2 million percentPosted by UK Economy News
In UK financial news
19Aug 08 Zimbabwe's annual inflation rate zoomed to 11.2 million percent in June, state media reported on Tuesday, amid a ruinous political crisis which is exacerbating the southern African nation's meltdown.
Read full story Comments Off China sees brisk growth in auto imports, exports slow: state mediaPosted by UK Economy News
In UK financial news
19Aug 08 China's auto imports grew rapidly in the first half of 2008, underlining its increasing importance as a market for carmakers, but export growth slowed, state media said Tuesday.
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