Economy

Thursday, March 30th 2023 - 10:20 UTC
Report on Falkland Islands Banking Services, published by Chamber of Commerce

The Falkland Islands Chamber of Commerce is pleased to publish its “Review of Banking Services in the Falkland Islands”. The report is the result of collaboration and input from the Falkland Islands Chamber of Commerce, the Falkland Islands Development Corporation (“FIDC”), Standard Chartered Bank (“SCB”), the Falkland Islands Government (“FIG”), and members of our local business community.
Wednesday, March 29th 2023 - 10:58 UTC
Uruguay's Executive to cover for Central Bank's deficit

Uruguay's Executive Branch Tuesday admitted the Central Bank (BCU) reserves were below their legal threshold by Dec. 31, 2022, and a capitalization plan was therefore needed.
Wednesday, March 29th 2023 - 10:55 UTC
Argentina: “Blue” dollar reaches AR$ 397

The unofficial exchange rate -commonly referred to as “blue”- between the Argentine peso and the US dollar reached AR$ 393 / 397 (buy/sale) after an AR$ 7 jump Tuesday, thus hitting a new record, it was reported in Buenos Aires. The blue dollar went up over AR$ 20 since last month for an 84.6% gap with the official quotation, which is virtually off limits for over 95% of the population to buy but available for anyone wanting to export.
Wednesday, March 29th 2023 - 10:53 UTC
IMF: Central Banks must enhance transparency to build trust

By Tobias Adrian, Jihad Alwazir, Ashraf Khan and Dmytro – The Bank of Canada published a detailed summary of its Governing Council deliberations for the first time last month, joining nearly two dozen other central banks in regularly releasing detailed information on monetary policy decisions.
Wednesday, March 29th 2023 - 10:51 UTC
Global trade expected to slow down in 2023, but “green goods” will remain strong, UNTAD report

Global trade was worth a record US$32 trillion in 2022, but amid deteriorating economic conditions, financial turmoil and rising uncertainties, growth turned negative in the last half of the year and is set to stagnate in the first half of 2023.
Wednesday, March 29th 2023 - 10:44 UTC
Brazil leading exports depend on China: 70% of soybeans and 63% of iron ore

Brazil’s main trading partner, China, is the destination for over a quarter of total Brazilian exports, involving more than US$90 billion in 2022 in transactions of commodities such as soy, crude oil, and iron ore – products that dominate the bilateral agenda between the two nations.
Tuesday, March 28th 2023 - 11:36 UTC
Poverty in Uruguay down to 9.9% in 2022

According to Uruguay's National Statistics Institute (INE), the number of people under the poverty line reached 9.9% of the population in 2022, an improvement from 2021's 10.6%, it was reported in Montevideo.
Tuesday, March 28th 2023 - 11:08 UTC
China’s strength is largely an illusion

By Gwynne Dyer – Xi Jinping was confirmed in a third term as president of China at the National People’s Congress this month, and not one of the 3,000 delegates voted against him. Why would they? Everything is perfect in the People’s Republic of Oz, and the chief Wizard doesn’t even need to hide behind a curtain.
Tuesday, March 28th 2023 - 10:30 UTC
Relief in the financial sector, North Caroline bank takes over collapsed Silicon Valley bank

The banking turmoil, and fears, seems to be easing as assets and loans of collapsed California Silicon Valley Bank (SVB) are being bought by rival First Citizens BancShares.
Monday, March 27th 2023 - 10:20 UTC
German Chancellor says “no reason to be concerned about Deutsche Bank”, system is stable and resilient

German Chancellor Olaf Scholz said during an EU summit last Friday in Brussels that Europe's banking system is “stable” and “ solid”. The leaders of the Eurozone countries met with the head of the European Central Bank, ECB, Christine Lagarde, to discuss the potential fallsou of several major banks collapsing in the US and Switzerland.