Stories for May 11th 2018

Friday, May 11th 2018 - 09:05 UTC
Despite legal setbacks, Lula reiterates his intention to run for a third presidential term

Brazil's former President Luiz Inacio Lula da Silva reiterated on Thursday his intention to run for a third presidential term. Lula was jailed on April 7 and is serving a sentence of 12 years and one month for corruption and money laundering.
Friday, May 11th 2018 - 08:50 UTC
Brazil inflation in April below official target; another interest rate cut expected

Brazil's inflation rate unexpectedly slowed in April and kept far below the official target, suggesting a recent period of currency weakness is unlikely to keep the central bank from cutting interest rates next week.
Friday, May 11th 2018 - 08:45 UTC
Confucius Institute opens in Uruguay to celebrate 30 years of diplomatic relations with Beijing

A Confucius Institute recently opened in Uruguay's capital Montevideo, fulfilling a dream for promoters of Chinese culture and locals keen to learn more about China. The institute, a worldwide network that offers a window to Chinese culture through Mandarin (standard Chinese) language classes and other types of courses, opened in April, thanks to an agreement between Uruguay's University of the Republic (Udelar) and Qingdao University in eastern China's Shandong Province.
Friday, May 11th 2018 - 08:35 UTC
Paraguay's president “soul brother” accused by Brazil of money laundering

Paraguayan authorizes have issued an arrest warrant for a man President Horacio Cartes has described as his “soul brother” as part of a sweeping investigation into corruption in Latin America.
Friday, May 11th 2018 - 06:29 UTC
Argentine stock market climbs 6% and the exchange market operates cautiously

Argentine equities rallied on Thursday, while the country's peso currency was stable, as the central bank sold foreign currency reserves in the spot market for the first time since the country announced it was seeking financing from the IMF.
Friday, May 11th 2018 - 06:12 UTC
Bank of England leaves interest rates unchanged, slashes 2018 growth prospects

The Bank of England has backed off from raising interest rates as it slashed 2018 growth forecasts, but said the economy would bounce back from a weather-hit “soft patch”. Policymakers kept the prospect of rate hikes firmly on the cards, although it sparked confusion over when the next increase may come.
Friday, May 11th 2018 - 06:00 UTC
“Lords should not undermine the will of the majority” that voted for Brexit

Peers should not undermine the will of those who voted Brexit, a senior minister has said after the UK Government suffered 14 defeats over key legislation. Commons Leader Andrea Leadsom said the Lords has made significant improvements to the European Union (Withdrawal) Bill, which transfers EU law into UK law, linked to devolution.
Friday, May 11th 2018 - 05:39 UTC
IMF and White House support Macri's economic reform program

International Monetary Fund chief Christine Lagarde said on Thursday she is ready to aid Argentina and wants talks on a financing package to be finalized quickly. Lagarde said she instructed the IMF team to continue discussions on a loan program with the goal to “reach a rapid conclusion.”