Economy

Monday, April 3rd 2023 - 09:50 UTC
UK economy just avoided recession in 2022, pushed by 0,1% growth in fourth quarter

The UK economy avoided recession in the second half of last year, posting 0.1% growth in the fourth quarter. The original estimate for GDP, between October and November, released by the Bank of England in mid-February had shown zero growth.
Monday, April 3rd 2023 - 09:24 UTC
China and Brazil reach accord to trade with their own currencies, avoiding the US dollar

China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as a common currency, the Brazilian government said on Wednesday, March 29. China has become Brazil's main trading partner.
Sunday, April 2nd 2023 - 14:30 UTC
Applications for ocean floor mining opened, but no mining code yet approved

Following two weeks of negotiations, the United Nations International Seabed Authority has decided that it will start taking permit applications in July from companies that want to mine the ocean's floor.
Sunday, April 2nd 2023 - 10:09 UTC
UK strikes deal to join major free trade bloc in Asia-Pacific, including Chile, Peru and Mexico

The UK announced on 31 March the conclusion of trade talks with member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a vast free trade area spanning the Asia-Pacific, after 21 months of negotiations. The bloc is home to over 500 million people and will have a total GDP of £11 trillion once the UK joins.
Saturday, April 1st 2023 - 10:39 UTC
IMF okays US$ 5.4 bn disbursement for Argentina

The International Monetary Fund (IMF)'s Executive Board Friday approved the fourth review of last year's Extended Facilities Program with Argentina, after which a US$ 5.4 billion disbursement for the South American country was cleared to proceed, it was reported in Washington DC.
Friday, March 31st 2023 - 16:04 UTC
Two-thirds of high-net-worth individuals investing in Uruguay are Argentinean: see details

The sector of investment advisors and portfolio managers in Uruguay grew in the number of clients and employees last year. This sector currently manages the money of 36,170 clients, 63% of whom are Argentine, with a total of US$ 28.93 billion invested in different instruments.
Friday, March 31st 2023 - 15:36 UTC
54% of Uruguayans reject social security reform

The Uruguayan government has passed a social security reform bill in the Senate. However, objections from the Cabildo Abierto party, a partner of the ruling coalition, have generated uncertainty about its implementation.
Friday, March 31st 2023 - 09:31 UTC
Argentina's poverty indexes on the rise

Argentina's National Institute of Statistics and Census (Indec) Thursday released a study showing that 39.2% of the South American country's economically active population was living in poverty in the second half of 2022, an increase from the 37.3% recorded during the same period of 2021
Friday, March 31st 2023 - 09:00 UTC
Von der Leyen says Mercosur deal a priority but Argentina warns “not so fast”

European Commission President Ursula von der Leyen said the agreement with Mercosur was a priority, but Argentina's government has second thoughts about the advantages it would actually entail, it was reported Thursday.
Friday, March 31st 2023 - 08:36 UTC
Argentina to launch “agro dollar” exchange rate

Argentine Economy Minister Sergio Massa Thursday announced the creation of the so-called “agro dollar,” a new exchange rate for agrifood exports, which seeks to help replenish the country's impoverished coffers while simplifying foreign currency operations for all rural producers.