Economy

• Wednesday, November 1st 2023 - 21:23 UTC

  BP third quarter profits lower than expected

  

  British Petroleum posted profits of US$ 3.3bn (£2.7bn) between July and September, lower than predictions of US$ 4bn. Earnings were down from US$ 8.1bn in the same period in 2022 when BP made huge profits following Russia's invasion of Ukraine, which led to oil prices soaring.

• Wednesday, November 1st 2023 - 21:09 UTC

  Peak of England and Wales companies going bust highest since the 2009 financial crisis

  

  Official figures from England and Wales show that the number of companies going bust this year is on track to be the highest since the financial crisis in 2009. Insolvencies rose 10% from a year ago in the three months to the end of September, and there has also been a sharp rise in the number of firms at risk of going bust.

• Wednesday, November 1st 2023 - 10:10 UTC

  Paraguay increasingly attractive to direct investments

  

  According to the Central Bank of Paraguay (BCP), direct investment in the South American country reached a record US$ 725 million last year, it was reported Tuesday in Asunción.

• Wednesday, November 1st 2023 - 09:01 UTC

  Brazilian government announces end of privatization process of the port of Santos

  

  Brazilian minister of Ports and Airports Silvio Costa Filho, announced the termination of the Investment Partnership Program (PPI), which had originally set the conditions for the privatization of the management of the Port of Santos.

• Wednesday, November 1st 2023 - 08:58 UTC

  Brazil hopeful of de-globalization, as US/China technology clash escalates

  

  Brazil did not enjoy the globalization process that started in the 1980s to its fullest potential. Still, it may have a second chance now amid the current de-globalization process – essentially an adjustment of globalization.

• Tuesday, October 31st 2023 - 09:03 UTC

  ECB leaves interest rates unchanged for the first time since July 2022

  

  The European Central Bank, ECB left interests rates unchanged for the first time in more than a year at a meeting in Athens last Thursday. ECB said it would leave key rates unchanged at between 4 and 4.75%.

• Monday, October 30th 2023 - 09:38 UTC

  Lula tells Pedro Sanchez to make a last effort on EU-Mercosur deal

  

  Brazilian President Luiz Inácio Lula da Silva told Spanish Prime Minister Pedro Sánchez during a telephone conversation last week that he was keen on finalizing the trade agreement between the European Union (EU) and Mercosur.

• Friday, October 27th 2023 - 10:25 UTC

  Sharp drop on “blue” dollar reported in Argentina

  

  The “blue” (a euphemism for “black market”) dollar has fallen sharply against the Argentine peso this week after Sunday's elections and the subsequent fracture within the opposition JxC coalition regarding whether to support or not Libertarian Congressman Javier Milei's bid against Economy Minister Sergio Massa at the Nov. 19 runoff.

• Friday, October 27th 2023 - 10:16 UTC

  Fuel shortages reported in Argentina

  

  Due to fuel shortages in several parts of Argentina, some pumps were forced to sell only up to a quota per customer while others simply closed their activities on Thursday, it was reported in Buenos Aires.

• Wednesday, October 25th 2023 - 10:51 UTC

  “The Croatian,” alleged mastermind behind the “blue” dollar, arrested in Buenos Aires

  

  Argentine authorities Tuesday arrested Ivo Rojnica, a.k.a. “The Croatian,” who is believed to be the mastermind behind the US dollar black market, commonly referred to as “blue,” it was reported in Buenos Aires.