Economy

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.
Monday, May 22nd 2023 - 10:48 UTC
Chilean large port reflects the slower performance of the country's economy

San Antonio, the largest port complex in Chile, had its fourth consecutive month with negative figures, as cargo handling experienced a 13.7% decline in April. Throughout the first quarter, it saw a 14.5% decrease.
Monday, May 22nd 2023 - 10:23 UTC
IMF: Uruguay excels, predicts 2% growth, 7% inflation, 8.1% unemployment in 2023

The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Uruguay on May 15, 2023, with prospects for this year anticipating 2% growth, declining inflation in the range of 7%, unemployment of 8,1% and a GDP of 81 bullion US dollars.
Saturday, May 20th 2023 - 11:40 UTC
Countries of the Paraná-Paraguay Waterway against toll collection by Argentina

The group of countries that make up the Paraguay-Parana Waterway Agreement Committee suggested Argentina refrained from adopting measures that violate the agreed rules and stop charging tolls to barges passing through Santa Fe. The committee is made up of Argentina, Bolivia, Brazil, Paraguay, and Uruguay.
Friday, May 19th 2023 - 10:56 UTC
Uruguayan grocers running out of bottled water as demand soars

As Uruguay's water crisis continues to escalate, sales of bottled water grew threefold during the last few days as suppliers ran out of stock, it was reported in Montevideo.
Friday, May 19th 2023 - 09:30 UTC
A BRICS revival is capable of challenging Western led international institutions?

By Ana Palacios, WASHINGTON, DC – There was a time when everyone was talking about a group of fast-growing emerging economies with huge potential. But the BRICS – Brazil, Russia, India, China, and South Africa – struggled to transform themselves from a promising asset class into a unified real-world diplomatic and financial player. Is this finally changing?
Wednesday, May 17th 2023 - 11:09 UTC
Leading world central bankers to meet in Sao Paulo to address “past and present challenges”

Christine Lagarde from the European Central Bank, Agustín Carstens, General Manager of the Bank for International Settlements (BIS), and Mark Carney, former Governor of the Bank of England (BoE), among other recognized world central bankers will be attending a Brazilian Central Bank seminar on central banks “past and present challenges” to take place in Sao Paulo on May 19th.
Wednesday, May 17th 2023 - 10:51 UTC
Brexit aftermath, UK Parliament takes initiative as to how and when scrapping EU legislation

The British government has suffered defeats in the House of Lords over plans to scrap certain EU laws by the end of the year, reports BBC. Peers backed an amendment which would give Parliament greater scrutiny over which rules should be ditched and also voted to give devolved governments, rather than Westminster ministers, the final say on whether EU rights should be kept.