Economy

• Monday, May 29th 2023 - 10:59 UTC

  Argentina's race against time: Economy Minister seeks Chinese support to stay afloat

  

  Argentina's Economy Minister Sergio Massa is due in China Tuesday, in a desperate bid to secure much-needed dollars for the government's survival and bolster its chances in the upcoming presidential elections. President Alberto Fernández, who recently announced that he would not seek re-election, has taken a backseat, allowing Massa to spearhead this crucial mission.

• Friday, May 26th 2023 - 09:07 UTC

  Argentina imposes more impediments to foreign trade; Central bank desperately short of US dollars

  

  Given the financial problems and shortage of foreign currency, on Wednesday, May 24, the leading shipping company MSC, followed by seven others, announced that, as from June, ‘freight collect’ will be charged for exports from Argentina, meaning that these charges will be billed to the party receiving a shipment, often called the consignee.

• Thursday, May 25th 2023 - 10:09 UTC

  LatAm's business index falls below average figures

  

  Paraguay remained the Latin American country with the highest projected growth for the year 2023, according to a Getúlio Vargas Foundation (FGV) study that also showed that the region has hit its poorest business climate in the last nine months, it was reported. Argentina is at the bottom of the list.

• Thursday, May 25th 2023 - 10:00 UTC

  Canada, Saudi Arabia resume full diplomatic ties after 5 years

  

  Five years after Saudi Arabia expelled Canada's ambassador from Riyadh over Ottawa's remarks on women's rights activists, both countries agreed Wednesday to restore full diplomatic relations, Global Affairs Canada (Canada's foreign ministry - GAC) announced in a statement.

• Wednesday, May 24th 2023 - 10:19 UTC

  Ecuador: President signs decree-law attracting investments

  

  Ecuadorian President Guillermo Lasso Tuesday signed his second urgent economic decree-law after the May 17 invoking of the crossed death constitutional procedure to dissolve Congress and call for snap elections. Tuesday's “Attraction and Promotion of Investments for Productive Development” initiative, which provides for the creation of new duty-free trade zones, needs Constitutional Court's approval to become effective. The bill was submitted two years ago by the Government of Ecuador to the outgoing National Assembly, but it was shelved.

• Wednesday, May 24th 2023 - 09:59 UTC

  China and Brazil reaffirm stronger partnership, Brazilian envoy in Beijing

  

  Brazil and China are set to embrace a higher state of solid partnership, and the two sides have shown a strong commitment to bolstering bilateral trade, cooperation in aviation and high-tech sectors, and response to climate change, said the country's top envoy to Beijing.

• Wednesday, May 24th 2023 - 09:55 UTC

  IMF improves UK economy forecast for this year but “inflation remains stubbornly high”

  

  Improved prospects for the UK economy according to the latest report from the IMF. The Fund said UK is expected to avoid a recession this year, with the economy growing 0,4% in 2023, compared to the a previous forecast of a 0,3% contraction last year.

• Wednesday, May 24th 2023 - 07:42 UTC

  Global production of shipping containers piles up at major ports because of lack of demand for goods

  

  Global production of shipping containers has fallen significantly as demand for goods sank following the easing of pandemic restrictions, leaving the corrugated steel boxes piled up at major ports.

• Tuesday, May 23rd 2023 - 11:42 UTC

  Argentina introduces new banknote amid high inflation

  

  Argentina launched the AR$ 2,000 banknote on Monday, with a value slightly exceeding US$ 4 in the unofficial exchange rate. It will be the highest denomination banknote in a country where year-on-year inflation has reached 108%.

• Tuesday, May 23rd 2023 - 11:11 UTC

  Norwegian catches for UK Fish and chips, and the price now averages £9

  

  The soaring price of the UK staple fish and chips has become a national controversy from the moment a portion of the dish in Somerset can cost as much as £14, while the UK average is £9, according to the ONS, reports BBC. But, the 19% increase has nothing to do with profiteering, the National Federation of Fish Friers (NFFF) says.