British Trade and Investment Minister, Lord Price, leads the UK’s first trade mission to Argentina in ten years, which arrived in Buenos Aires on Thursday. The mission looks to strengthen trade and investment relations with the third largest economy of Latin America.
Despite the Argentine government’s forecast of a much better economic scenario in the second half of the year, credit rating agency Moody’s disagrees, saying the economy is set to shrink by 1.5%, followed by a growing unemployment and an inflation rate well above 30%.
China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway's inauguration on Sunday, June 26. The vessel, which has a maximum capacity of 9,400 TEUs, is 48.25 meters in beam and 299.98 meters in length.
The European Central Bank has announced it will stop printing €500 notes in 2018. It says the move is to stop the notes being used by money launderers and criminals. In effect they are easily transportable. A million Euros in €500 notes weighs 2.2 kilograms and can be carried in a laptop bag.
European farmers took to the streets of Dublin outside the EU Commission offices to highlight the potential “sellout” of the multi-billion-euro beef industry in trade talks with Mercosur. Concerns have been rising over discussions at EU level over the impact a deal with Mercosur would have on Ireland's €2.5bn beef industry, which depends on EU markets for over 90% of its exports.
Brazil’s state-run oil firm Petrobras said it has concluded the sale of its 67.2% stake in Petrobras Argentina to Argentina’s Pampa Energía for US$ 892 million, according to a securities filing. Petrobras also sold all of Petrobras Chile Distribución to Southern Cross Group for about US$ 490 million as part of its divestment program, the company said.
Argentine farm exports rocketed 68% higher in the first quarter compared to the same 2015 period, thanks to new policies that prompted growers to sell stockpiles built up under the previous administration, the government announced.
Inflation in Argentina during April reached 5.02% and 40,85% in the last twelve months according to the unions umbrella organization CGT Economic and Social observatory, which was released on Tuesday.
The Irish Cattle and Sheep Farmers’ Association (ICSA) is to protest on Wednesday May 4, in Dublin against the proposed Mercosur and TTIP trade deals. The protest will take place outside the offices of the European Commission in the Irish capital.
The Euro-zone's economy grew by a faster-than-expected 0.6% in the first three months of the year, according to official statistics. The growth rate in the 19-nation bloc doubled from the 0.3% rate recorded in the previous quarter, and was above analysts' expectations of 0.4%.