Economy

Thursday, June 29th 2023 - 02:25 UTC
UK pension funds in the limelight because of massive investments in fossil fuel firms

Controversy in the UK over pension funds and London's commitment to keep to the Paris Agreement goals. In effect this Wednesday, the climate finance campaign Make My Money Matter revealed that UK’s pension funds should review their US$ $112 billion (£88 billion) worth of investment in equities and bonds of fossil fuel firms, as the funds are not anywhere near on track for aligning their portfolios to the Paris Agreement goals.
Tuesday, June 27th 2023 - 09:03 UTC
Brazil and Argentina strengthen alliance

Brazilian President Luiz Inácio Lula da Silva Monday said that his country and Argentina have adopted almost 100 actions to “give substance” to joint development between South America's two largest economies, Agencia Brasil reported.
Saturday, June 24th 2023 - 10:43 UTC
Lula insists on addressing inequality

Brazilian President Luiz Inácio Lula da Silva Friday insisted in Paris on the advantages of using a common currency for foreign trade operations and underlined once again that the European Union's demands for the Mercosur agreement were a “threat.”
Friday, June 23rd 2023 - 10:40 UTC
Upheaval in UK mortgage market: banks and building societies to meet Chancellor Hunt

Following on Thursday interest rate hike by the Bank of England, BBC is reporting that banks and building societies are to meet Chancellor Jeremy Hunt to discuss the upheaval in the mortgage market.
Friday, June 23rd 2023 - 07:05 UTC
Bank of England raises the base rate to 5% given a stubborn inflation of 8,7%

The Bank of England, contrary to market expectations of a 25 basis points hike, on Thursday surprised with a 50 basis point hike to interest rates, its 13th consecutive increase as policymakers grapple with persistently high inflation.
Friday, June 23rd 2023 - 06:23 UTC
Falklands cruise season 2022/23, almost 60,000 visitors but still 16% below 2019/20

Figures from the last tourist season were presented to the Falkland Islands Tourist Board committee this week, and in her report, Executive Director Stephanie Middleton supplied statistics for several aspects of tourism in the Islands.
Thursday, June 22nd 2023 - 15:57 UTC
Sigh of relief as Brazil leaves bank rate unchanged at 13,75%

Brazil's Central Bank left its benchmark interest rate unchanged but softened its tone regarding further efforts to slow inflation. The bank's monetary policy committee, Copom, left the key Selic rate at 13.75%, where it has stood since August after a series of consistent rate hikes aimed at slowing inflation.
Thursday, June 22nd 2023 - 15:55 UTC
Fed's Powell questioned in Congress over inflation and bank regulation

Since inflation in the United States is still excessive, most Federal Reserve officials expect to raise interest rates further this year this year, Chair Jerome Powell told a House committee on Wednesday, who also had to respond about alleged further banking regulations.
Thursday, June 22nd 2023 - 10:47 UTC
Argentina did nothing to charge toll, Paraguay's Waterway Commission finds

Paraguay's National Waterway Commission concluded that Argentina's technical explanations for charging tolls to vessels sailing through the Parana River between the Port of Santa Fe and the Confluence with the Paraguay River were inadequate and that there was no justification for such a unilateral measure, it was reported in Asunción.
Wednesday, June 21st 2023 - 10:59 UTC
Chile's Central Bank cuts down growth projections

According to the Chilean Central Bank's new projections, the South American country's economy will grow less than expected this year, it was reported Tuesday in Santiago.