Economy

Wednesday, October 26th 2022 - 07:37 UTC
Challenge for Brazil beef market: plenty of cattle, domestic demand flat and China bargaining prices

Brazilian cattle prices are down this year and strong demand for the country’s beef exports will widen Brazilian meatpackers’ margins in the short term, according to analysts, though weakness in the domestic market could undercut those gains.
Tuesday, October 25th 2022 - 18:26 UTC
Brazil's GDP forecast to grow by 2.76% in 2022

Brazilian economists have released a study whereby the country's Gross Domestic Product (GDP - the sum of all goods and services produced nationwide) is projected to grow 2.76% by the end of 2022, it was reported Monday.
Tuesday, October 25th 2022 - 09:25 UTC
Argentine President welcomes Chinese investors

Argentine President Alberto Fernández Monday met at Casa Rosada with China Railway International Group (CRIG) President Bi Yanchun to discuss future investments in infrastructure, energy, and technology projects.
Tuesday, October 25th 2022 - 09:24 UTC
ECLAC's 39th session gets underway in Buenos Aires

Argentine President Alberto Fernández and Economic Commission for Latin America and the Caribbean (ECLAC) Executive Secretary José Manuel Salazar-Xirinachs Monday opened the United Nations agency's 39th session in Buenos Aires.
Tuesday, October 25th 2022 - 09:10 UTC
Foreign tourists near spending in Brazil to 2016 figures

Brazil's Central Bank (BCB) Monday confirmed foreign travelers had spent US$416 million in the country during September of 2022, the highest figure for the month since September of 2016, the year of the Olympic and Paralympic Games in Rio de Janeiro, which recorded US$ 446 million in revenues.
Tuesday, October 25th 2022 - 09:10 UTC
UK faces an era which could be more difficult than 2008, Lord King, ex BoE governor

Lord Mervyn King, governor of the Bank of England from 2003 to 2013 said the United Kingdom faces an era of much austerity to stabilize the economy, with the average person having to face “significantly higher taxes” to fund public spending.
Monday, October 24th 2022 - 19:14 UTC
Josep Borrell meets with Uruguayan President in Montevideo

Uruguayan President Luis Lacalle Pou, who holds the pro-tempore presidency of Mercosur, Monday welcomed European Union (EU) High Representative Josep Borrell in Montevideo to discuss the future of the agreement between the two trade blocs.
Monday, October 24th 2022 - 09:30 UTC
Moody's: Major devaluation of Mexican peso forecast

According to the credit rating agency Moody's, a devaluation of around 20% of the Mexican peso against the US dollar would be imminent and might take place later this year or in early 2023, it was reported.
Saturday, October 22nd 2022 - 10:20 UTC
Gloomy picture of UK economy: Sterling KO, retail sales down and government borrowing increasing

Pound sterling trading ended on Friday at US$ 1.12, after rallying on Thursday following the announcement of Prime Minister Liz Truss Thursday resignation. However new figures showed a gloomy picture of the UK economy.
Saturday, October 22nd 2022 - 10:00 UTC
Japanese rating agency ups Uruguay's grading

Japanese risk rating agency R&I raised Uruguay's status from BBB to BBB+, the best grading the South American country has ever received, it was announced Friday.