Economy

• Tuesday, November 7th 2023 - 10:17 UTC

  Moody's says adjustment in Argentina inevitable

  

  A recent report from Moody's heralded that a macro-fiscal adjustment is inevitable in Argentina regardless of who wins the Nov. 19 runoff between Economy Minister Sergio Massa and Libertarian Congressman Javier Milei.

• Tuesday, November 7th 2023 - 09:46 UTC

  Falklands planning to redesign new themes on the Islands' banknotes; public consultations

  

  The Falkland Islands Treasury Department is launching two consultations concerning changes to Falkland Islands currency and is keen for the public to provide their feedback. The consultations cover:

• Tuesday, November 7th 2023 - 09:21 UTC

  Importance of Brazilian SMEs highlighted

  

  According to a study released Monday, small businesses account for 71% of the jobs created in Brazil until September this year, Agencia Brasil reported. The document showed some 1.5 million work opportunities had been opened nationwide, 211,764 of them formal.

• Tuesday, November 7th 2023 - 08:25 UTC

  Biden envoy visiting Chile, Uruguay and Paraguay

  

  US Undersecretary of State for Economic Growth, Energy and Environment, José W. Fernández is on a South American tour with stops in Uruguay, Chile, and Paraguay to boost green energy developments in the region.

• Monday, November 6th 2023 - 09:14 UTC

  AP Moller-Maersk cutting jobs as global shipping business declines strongly

  

  AP Moller-Maersk announced it will be cutting 3,500 jobs because of a downturn in business. This adds to another 6,500 jobs cut earlier this year. The Danish company one of the largest global shipping enterprises said profits plunged 92% and a policy of rigorous containment had to be applies. It said “worsening” prices for shipping by sea required further job cuts.

• Sunday, November 5th 2023 - 10:23 UTC

  UK economy on flat growth track, with decreasing inflation, BoE report

  

  The UK economy is on flat growth for a couple of years, while government forecasts of greater activity vanish, and the Bank of England could still rise interest rates further. In effect the BoE has warned rates will remain high for some time or even rise higher. Rate currently stands at 5,25%, the highest in fifteen years.

• Friday, November 3rd 2023 - 08:59 UTC

  Paraguay just one notch short of Fitch's investment grade

  

  Paraguay was given a BB+ rating in Fitch's latest report, which is one step away from investment grade. Although in Asunción the South American country's Economy Ministry highlighted the achievement, the agency also warned about challenges in terms of credibility.

• Thursday, November 2nd 2023 - 09:39 UTC

  Brazil cuts basic interest rate to 12.25% per year

  

  Brazil's Monetary Policy Committee (Copom) unanimously decided Wednesday to reduce the economy's basic interest rate (known as the Selic rate) by 0.5 percentage points to 12.25% per year, Agencia Brasil reported.

• Thursday, November 2nd 2023 - 09:14 UTC

  Price of fuel goes up in Argentine to secure supply

  

  Argentina's state-run oil company YPF ordered an average increase of 9.75% in the prices of gasoline and diesel oil at pumps, as the freezing deal between the Economy Ministry and fuel producers came to an end Oct. 31 following a 12.5% adjustment the week after the Aug. 13 Open, Mandatory, and Simultaneous Primary (PASO) elections and their ensuing devaluation of the local currency.

• Thursday, November 2nd 2023 - 08:13 UTC

  Multiple cost of living support benefits ahead of winter, announces UK Conservative government

  

  Millions of households across the United Kingdom are set to receive significant cost of living support ahead of winter, with the British government freezing bus fares in England and the second cost-of-living payment – worth £900 in total - landing directly in bank accounts.