Economy

• Wednesday, August 2nd 2023 - 10:30 UTC

  Pacific Alliance: Peru takes over pro tempore presidency

  

  During a ceremony held Tuesday in Santiago, Peruvian Foreign Minister Ana Cecilia Gervasi received the pro tempore presidency of the Pacific Alliance from her Chilean counterpart Alberto van Klaveren, thus bringing to an end the controversy sparked when Mexican President Andrés Manuel López Obrador (AMLO) refused to acknowledge Dina Boluarte as the legitimate head of state following Pedro Castillo Terrones' impeachment on Dec. 7 last.

• Tuesday, August 1st 2023 - 18:48 UTC

  Euro Zone inflation down to 5,3% in July, helped by lower energy prices

  

  Inflation in the Euro-zone fell to 5.3% in July, down almost a percentage point from May, the EU statistics agency Eurostat said on Monday. in June the rate of inflation was 5,5% as compared with 6.1% in May.

• Tuesday, August 1st 2023 - 18:46 UTC

  Retail prices outlook in the UK improving, but not out of the woods yet

  

  Outlook for retail prices in the United Kingdom improving. New figures suggest food price inflation in the UK has slowed to its lowest level this year as prices of oils, fish, and breakfast cereals fall. According to the British Retail Consortium (BRC) and NielsenIQ retail analysts, food inflation slowed to 13.4% in July. It was 14.6% in June.

• Tuesday, August 1st 2023 - 12:19 UTC

  Brazil dominates increasing share of China's soybean market

  

  The world’s soybean market is dominated by one major buyer: China, and for years, Mercosur's leading member Brazil has taken an increasingly bigger share of that trade away from the US. So much so that Brazilian shippers are even starting to dominate during the typical season lull.

• Saturday, July 29th 2023 - 11:15 UTC

  Argentina announces new deal with the IMF

  

  The Government of Argentina reached an understanding with the International Monetary Fund (IMF) whereby the global agency will make disbursements worth over US$ 7 billion in August and November, it was announced Friday in Buenos Aires.

• Saturday, July 29th 2023 - 11:11 UTC

  Argentina forced to import 6,1 million tons of soybeans in first half of 2023

  

  Argentina hit by a once-in-a-lifetime drought, has been forced to import 6,1 million tons of soybeans in the first half of 2023, according to data published by the Rosario Stock Exchange. The volume, the highest ever recorded for the period, is triple the amount imported in the first half of last year. It is also very close to the 2018 annual record when the country imported 6.4 million tons of soybeans.

• Friday, July 28th 2023 - 10:44 UTC

  MLAs debate, income distribution and social inequality stats in the Falkland Islands

  

  Social inequality is likely to be lower in the Falkland Islands than in countries with similar incomes according to the Chief Executive - so the people here are better off he says. But he also suggested that commonly used tools for measuring social inequality in larger countries might not be appropriate for the Falklands.

• Friday, July 28th 2023 - 09:51 UTC

  Euro zone raises benchmark interest rate to 4,25% for the ninth time running

  

  The European Central Bank on Thursday increased the key interest rate in the Eurozone by 0.25 percentage points to 4.25%. The decision to hike rates for a ninth straight time is part of the ongoing campaign to bring down inflation, but as inflation pressures show tentative signs of easing, recession worries mount.

• Thursday, July 27th 2023 - 10:10 UTC

  Argentina: No REM report until after PASO elections

  

  Argentina's Central Bank (BCRA) Wednesday postponed the release of its monthly Relevamiento de Expectativas de Mercado (REM) report until after the Aug. 13 Open, Mandatory and Simultaneous Primary (PASO) elections, it was announced in Buenos Aires.

• Thursday, July 27th 2023 - 10:00 UTC

  Fed raises benchmark rate to its highest since 2021, “getting inflation back to 2% has a long way to go”

  

  The United States Federal Reserve raised its benchmark lending rate on Wednesday by a quarter of a percentage point, the highest level since 2001 and the eleventh hike in its last 12 meetings.