Economy
EconomyBrazil central bank sees annual inflation targets within arm's reach
Brazil's central bank expects annual inflation to ease below the government's 4.5% target in 2017 after years of hovering well above that goal, leaving the door open for cutting some of the world's highest interest rates as early as October. The bank also held its estimate for an economic contraction of 3.1% in 2016, but it expects the economy to grow 1.3% in 2017.
One in three Argentines, 8.8 million live in poverty and 1.7 million are indigent
Nearly one-third of Argentina’s population lives in poverty, the government said on Wednesday in the first official poverty data published in three years, underscoring the difficulty of reaching President Mauricio Macri’s stated “zero poverty” goal. The ranks of the poor surveyed in Argentina totaled 8.8 million people, or 32.2% of the population in 31 urban areas surveyed.
Iran-Saudi Arabia can't agree on limiting oil supply: “maybe in November”
Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude.
Global trade set to grow at its slowest pace since 2009 financial crisis warns WTO
The World Trade Organization Tuesday lowered its global trade forecast, warning that anti-globalization rhetoric and Brexit were pushing trade growth to its slowest pace since the financial crisis. The warning comes as talks on a landmark free trade deal between the European Union and the United States faces stiff opposition and Britain’s EU exit causes jitters.
Argentina lost 12% of national flock to severe drought in north Patagonia
North Patagonia in Argentina is suffering the worst drought is 17 years which has meant the loss of 1.8 million sheep, since 2007, and so far this year rainfall has been 45% below the historic average.
Foreign tourists in Argentina will be refunded VAT on hotel services
Argentine president Mauricio Macri signed an executive order on Tuesday under which foreign tourists will receive a refund of the value-added tax, or VAT, paid on hotel services in an effort to attract more visitors to Argentina and boost tourist businesses.
Accessible Tourism, theme of World Tourism Day 2016
Tourism for all: people with disabilities, senior citizens and families travelling with small children, and sooner or later all citizens will appreciate the advantages of universal accessibility. This is why UNWTO has chosen to celebrate World Tourism Day 2016 on the theme of accessible tourism. Official celebrations will take place on 27 September in Bangkok, Thailand.
Deutsche bank in danger zone: shares down 50% this year and sliding
Shares in Deutsche Bank were down sharply after a report that the German government won’t intervene with U.S. officials who are pressing the bank to pay US$14 billion to settle an investigation into its sales of mortgage-backed securities. The bank’s shares closed down 7.5% at 10.55 Euros on Monday after the Friday report from Focus magazine.
US Treasury Secretary on advisory visit to Argentina, Brazil, Colombia and Mexico
U.S. Treasury Secretary Jacob Lew will urge his counterparts in Argentina, Brazil, Colombia and Mexico to press ahead with economic and fiscal reforms aimed at restoring or strengthening growth, a senior Treasury official said on Friday. Lew will be visiting the four largest Latin American economies this week beginning with Argentina on Monday, recognizing efforts by President Mauricio Macri to reintegrate Argentina into the global economy.
August FAO Food Price Index at its highest since May 2015; all commodities up except for cereals
The FAO Food Price Index (FFPI) averaged 165.6 points in August 2016, up 3 points (1.9%) from July and almost 7% above the corresponding period last year. The August value of the Index is the highest since May 2015. Except for cereals, prices of all other commodities used in the calculation of the FFPI rose in August, led by dairy, oils and sugar.
