Economy

Economy
Thursday, July 7th 2016 - 06:53 UTC

Rousseff makes impassionate defense against impeachment attempts in Congress

“What hurts most at this moment is the injustice,” said Rousseff's statement, read out by her lawyer Eduardo Cardozo.

Brazil's suspended president Dilma Rousseff rejected attempts to impeach her as an “injustice” in a defense filing Wednesday, as a decision on her political fate moved a step closer. The affair has rocked Brazil as it struggles with a recession and corruption scandals ahead of next month's Olympic Games in Rio de Janeiro.

Thursday, July 7th 2016 - 06:43 UTC

US trade deficit soars 10% in May; imports rise and exports fall

The deficit is particularly pronounced with China, where the gap rose by 19.4% to US$29bn. The trade gap with the European Union also widened by 13.5%.

United States trade deficit grew by 10% in May as exports fell while imports, particularly from China, rose according to the latest report from the Commerce Department. The deficit rose to US$41.1bn in May compared with US$37.4bn in April, while exports decreased by 0.2%, while imports grew by 1.6%.

Thursday, July 7th 2016 - 06:33 UTC

Germany warns EU members about a tax-cuts race to attract Brexit business

Schaeuble said “We have no intention to start some sort of race to the bottom”, in response to Osborne's proposal to slash corporation tax to avoid a business exodus

German Finance Minister Wolfgang Schaeuble has said he opposes a “race to the bottom” of competitive tax cuts. He spoke after George Osborne pledged to cut UK corporation tax in response to the Brexit vote and from Paris, in an attempt to attract UK businesses, the French government promised its taxes will be the most favorable in Europe.

Wednesday, July 6th 2016 - 04:40 UTC

Macri pushes in Berlin for EU-Mercosur accord, but Merkel sides with France in the agriculture issue

“The most difficult chapter is agriculture, and his is essential and in that sense we need a more flexible position from the French side,” Macri said.

President Mauricio Macri met on Tuesday with German Chancellor Angela Merkel in Berlin with both leaders holding a press conference to address the current state of talks regarding a trade agreement between the European Union and the Mercosur.

Wednesday, July 6th 2016 - 04:25 UTC

Mega agreement between Italy and Shanghai shipbuilders, and Carnival to develop China's cruise industry

The signing took place in Shanghai between Fincantieri CEO Giuseppe Bono; Wu Qiang, CSSC president, and head of Shanghai Waigaoqiao Shipbuilding, Wang Qi.

Fincantieri and the China State Shipbuilding Corporation (CSSC), China’s largest shipbuilding conglomerate, have signed an agreement for the development of a joint venture aimed at developing and supporting the growth of the Chinese cruise industry, according to a statement.

Wednesday, July 6th 2016 - 04:16 UTC

Spain to analyze Brexit impact for employment in Gibraltar neighboring areas

Senior representatives of leading unions UGT and CCOO in Andalusia called on Gibraltar's Chief Minister Fabian Picardo to exchange views on the issue.

The central Spanish Government and regional authorities in Andalucia are taking an increasingly-close interest on the impact that a United Kingdom withdrawal from the EU could have on communities in the Campo de Gibraltar, neighbouring with the British Overseas Territory of Gibraltar, and the region as a whole.

Tuesday, July 5th 2016 - 07:49 UTC

Temer calls for “national reunification” at a friendly agro-business forum

“For employment to recover, it's necessary for industry and agro-industry to grow, so that trade also grows,” said Temer at the Global Agribusiness Forum 2016

Brazil's interim president, Michel Temer emphasized the role of agro-industry in the country's development and called for “national reunification” to guarantee jobs in the sector.

Tuesday, July 5th 2016 - 07:31 UTC

Brazil manages US$23.6bn trade surplus in the first half of the year

The director of the Department of Statistics and export support, Herlon Brandao, said that exports totaled US$ 90.2 billion in the first half.

Brazilian exports exceeded imports by US$23.6 billion in the first half of the year - a record for the period. In addition to the basic products, sales grew strongly with the sale of vehicles for Latin America. The data were released by the Ministry of Industry Trade and Services.

Tuesday, July 5th 2016 - 07:21 UTC

OECD-FAO forecasts agriculture prices will remain relatively flat overall in next decade

OECD-FAO projects inflation-adjusted agricultural commodity prices will remain relatively flat. But livestock prices are expected to rise relative to those for crops.

The recent period of high agricultural commodity prices is most likely over, say the OECD and FAO in their latest 10-year Outlook. But the two organizations warn of the need to be vigilant as the probability of a major price swing remains high.

Monday, July 4th 2016 - 10:18 UTC

Brazilian unemployment reached a record 11.2% in the March/May quarter

The 11.2% jobless rate means 11.4 million people are officially out of work, IBGE said. A year ago, the jobless rate was 8.1%.

Brazil's jobless rate remained stuck at a record 11.2% at the end of May, the government statistics office reported. The rate for March through May was unchanged from the previous quarter, with 11.4 million people officially out of work, the Brazilian Institute of Geography and Statistics (IBGE) said. A year ago, the jobless rate was 8.1%.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement