Economy

Friday, September 29th 2023 - 08:50 UTC
Argentina: “Blue” dollar back on the rise

The so-called “blue” (a euphemism for “black market”) US dollar climbed sharply against the Argentine peso on Thursday, reaching a rate of US$ 1 = AR$ 790, it was reported in Buenos Aires. This was the highest rate since August 16, when it reached AR$ 795, and represented an increase of AR$ 43 in three days and AR$ 15 in just one day.
Friday, September 29th 2023 - 08:04 UTC
China's leading property company again in financial trouble: debt of US$ 328 billion

Trading of shares in Chinese property giant Evergrande and its two subsidiaries was suspended in Hong Kong on Thursday. A market statement on the Hong Kong Stock Exchange did not explain why trading in Evergrande Group's securities, and share certificates of Evergrande Property Services Group and Evergrande Electric Vehicle Group was halted.
Wednesday, September 27th 2023 - 09:11 UTC
Biden in Detroit supports and joins striking auto workers union

United States President Joe Biden flew to Detroit on Tuesday where he joined members of the striking United Auto Workers , UAW, union on the picket line. The visit is thought to have been the first time a US president has ever joined striking workers.
Wednesday, September 27th 2023 - 08:55 UTC
New container line linking EU main ports with Brazil, Uruguay and Argentina

ONE (Ocean Network Express) and Cosco Shipping are starting the new LUX container service. This route connects Europe and the Mediterranean with the east coast of South America with weekly stopovers.
Wednesday, September 27th 2023 - 08:39 UTC
China opens its market to Colombia beef; Brazil concerned as export meat prices have fallen considerably

Brazilian meatpacker Minerva said on Monday it had received a notification from Colombia’s government saying that China has approved a sanitary protocol in order to open its market for Colombian beef exports.
Tuesday, September 26th 2023 - 09:02 UTC
Lula says Vietnam interested in a trade deal with Mercosur

President Lula da Silva welcomed on Monday, in Brasilia, Vietnam prime minister Pham Minh Chinh and said the Asian country was interested in a trade deal with the Mercosur bloc. Lula, who currently chairs the group, said he wants to bring Mercosur members closer to Asian countries and highlighted there is room for trade with Vietnam to grow..
Saturday, September 23rd 2023 - 12:09 UTC
Latin America’s Growth Conundrum

By Arminio Fraga, Guillermo Oritz and Andrés Velasco (*) – Since 1960, only a few countries in Latin America have narrowed the gap between their per capita income and that of the United States, while most of the region has lagged far behind. Making up for lost ground will require a coordinated effort, involving both technocratic tinkering and bold political leadership
Saturday, September 23rd 2023 - 12:04 UTC
Brazil central bank lowers interest rate for second month running

Brazil’s central bank this week lowered its interest rate by 50 basis points to 12.75% -- its second consecutive rate cut. Banco Central do Brasil last made a rate hike of 50 basis points in August 2022, carrying the rate to 13.75%, the highest since early 2017, and significantly up from a record low of 2% in March 2021.
Saturday, September 23rd 2023 - 11:52 UTC
US Fed leaves rates unchanged but anticipates one more rise in November

The Federal Reserve left its benchmark interest rate unchanged this week, pausing an aggressive inflation fight amid growing optimism that the United States can achieve normal price levels without falling into a recession.
Thursday, September 21st 2023 - 20:37 UTC
Falling prices for dairy and vegetables help a surprise fall in UK August inflation

Falling prices for milk, cheese, and vegetables helped drive a surprise fall in United Kingdom inflation in August, with prices now rising at their slowest rate in a year-and-a-half.