Economy

Friday, February 26th 2021 - 09:30 UTC
President Xi announces end of poverty in China, on Communist Party's 100th anniversary

China's President Xi Jinping officially declared Thursday that the country has completed its “arduous task” of eradicating extreme poverty, saying 98.99 million people have been lifted out of poverty over the past eight years.
Thursday, February 25th 2021 - 10:37 UTC
Bolsonaro praises Economy minister Guedes trying to overcome the Petrobras controversy

Brazilian President Jair Bolsonaro praised his Economy Minister Paulo Guedes as the “anchor” of his government, in an attempt to quash speculation of a deepening division between the two after Bolsonaro last week ousted Petrobras CEO triggering a plunge in markets.
Thursday, February 25th 2021 - 10:22 UTC
Argentina: the icon of Kirchners' business friends sentenced to 12 years in jail for money laundering

Argentine justice despite its disrepute has inflicted a mighty blow to the dominant force of the country's political system since 2003, the Nestor and Cristina Kirchner couple, currently headed by the widow Cristina Fernandez de Kirchner.
Thursday, February 25th 2021 - 10:20 UTC
Optimistic forecast in coming months for Argentina's economic activity

Argentina’s economic activity was down 10% during 2020 after falling 2.2% in December versus a year earlier, but better than the average fall analysts forecasted and that the initial government projections.
Wednesday, February 24th 2021 - 08:58 UTC
Major Spanish renewable energy group Abengoa files for insolvency

Spain's renewable energy group Abengoa SA filed for insolvency late on Monday, after its latest attempt to restructure its debts fell apart. The parent company of the renewable-energy producer, which is the entity that filed for insolvency, had around 1 billion Euros of liabilities in 2019.
Wednesday, February 24th 2021 - 08:33 UTC
US bishops call on Biden to sponsor a boost of IMF resources to support poor countries

The United States Conference of Catholic Bishops and an alliance of faith groups urged President Joe Biden on Tuesday to back a big boost in the International Monetary Fund's (IMF) emergency reserve funds to help poor countries devastated by the coronavirus pandemic.
Wednesday, February 24th 2021 - 08:33 UTC
UK planning to spend billions to prop the economy over the next four months

The United Kingdom is set to spend billions of pounds in extra support for the economy over the next four months, as pandemic curbs pushed unemployment to its highest level of almost five years. The chancellor of the exchequer Rishi Sunak will set out the details in his Mar 3 budget.
Tuesday, February 23rd 2021 - 13:29 UTC
Halal chicken dispute blocks Brazil/Indonesia free trade talks

Brazil should only begin free trade talks with Indonesia if it adopts recommendations made by a World Trade Organization panel in 2017 after a dispute over halal chicken, Brazil's meat lobby ABPA said in a letter sent to three government ministries.
Tuesday, February 23rd 2021 - 09:07 UTC
February a poor month for industrial confidence in Brazil

A survey from the prestigious Getulio Vargas foundation showed that Brazilian industrial confidence fell in February for a second consecutive month, further evidence that the economy is losing steam and could even contract in the first quarter.
Tuesday, February 23rd 2021 - 08:45 UTC
“No chance at the moment for ratification of trade deal with Mercosur”, France

There is no chance at the moment that France will ratify a free-trade deal between the European Union and the Mercosur group, an official at the presidential palace in Paris said on Monday.