Economy

Wednesday, March 2nd 2022 - 07:07 UTC
Nord Stream 2 pipeline builder files for insolvency and leaves staff redundant

The Swiss company that built the Nord Stream 2 pipeline, supposed to double the Russian gas supply to Germany, has filed for insolvency and left redundant all its staff, according to Swiss radio SRF. The US$ 11bn pipeline, which runs between Russia and Germany, was completed last September and waiting for final approval from German authorities, but was put on hold following the Russian invasion of Ukraine.
Tuesday, March 1st 2022 - 09:49 UTC
“China does not agree with unilateral sanctions that lack the basis of international law”, foreign ministry spokesperson

China's foreign ministry spokesperson during the daily media conference called for an end to the Cold War mentality and emphasized that Beijing does not agree to resolve issues with sanctions that lack the basis of international law.
Tuesday, March 1st 2022 - 09:15 UTC
What will happen in the world wheat market if the Russia/Ukraine conflict is not over by June

The Russian invasion of Ukraine has also caused major disruptions in the agricultural commodities' markets with soaring prices for wheat, corn, soybeans... and much speculation.
Monday, February 28th 2022 - 20:17 UTC
Interannual sales of motor vehicles fall in Argentina and Brazil

Vehicle sales slumped the most in Argentina and Brazil of all Latin American countries during January, according to a report with data for ten nations in the region.
Monday, February 28th 2022 - 20:05 UTC
South Africa becoming a welfare state, finance minister tells Congress

South Africa’s new Finance Minister Enoch Godongwana has told Congress the country was becoming a welfare state fast and he sought Parliamentarian approval for his first budget.
Monday, February 28th 2022 - 09:24 UTC
Paraguayans rush to bordering city to buy fuel smuggled in from Argentina

Hundreds of Paraguayans rushed over the weekend to the coastal town of Nanawa – formerly Puerto Elsa – in the Presidente Hayes province to buy cheaper fuel smuggled from Clorinda, Argentina, it was reported.
Sunday, February 27th 2022 - 13:53 UTC
Russia banned from leading global banking network

Western powers have decided to ban Russia from the SWIFT banking payments system as part of the sanctions against the Government of President Vladimir Putin for invading Ukraine, it was announced during the weekend in a joint statement from countries adopting the measure.
Saturday, February 26th 2022 - 09:54 UTC
Russia and China bilateral trade moving to the Yuan, gradually replacing the US dollar

The Ukraine war which has impacted on Russian markets and particularly the plunge of the ruble, should not be a major cause of concern for China-Russia bilateral trade since a growing percentage of business is done with the Chinese currency Yuan, as the two countries move towards de-dollarization, according to financial circles in Beijing.
Saturday, February 26th 2022 - 09:44 UTC
China to begin selling soybean reserves; plans to ensure food security and self sufficiency

China will begin the sale of state-owned reserves to increase supply in the world’s largest oilseed market, the National Food and Strategic Reserves Administration announced, although no auction volumes or dates were advanced.
Saturday, February 26th 2022 - 09:20 UTC
US inflation in January at a four decades high, and still has to peak

No peace for president Joe Biden absorbed by the Ukraine war, and for US consumers, inflation keeps surging and is expected to peak sometime midyear, before it begins to weaken. An inflation gauge closely monitored by the Federal Reserve effectively jumped 6.1% in January compared with a year ago.