Economy

Friday, February 5th 2021 - 18:33 UTC
FAO's food prices index at its highest level since July 2014

Global food prices rose in January for the eighth consecutive month, led by cereals, vegetable oils and sugar, according to the Food and Agriculture Organization of the United Nations (FAO).
Friday, February 5th 2021 - 18:26 UTC
Brazil anticipates bumper soybean and corn crops despite late drought

Brazil expects to harvest bumper soybean and corn crops in spite of planting and harvesting delays in 2020. A drought late last year delayed sowing of Brazil’s soybeans, and excess rainfall disrupted harvesting in January. This delayed delivery of grain to trading companies and affected Brazil’s ability to export.
Friday, February 5th 2021 - 12:57 UTC
Argentine farmers on alert: government does not rule out more taxes on food exports

Despite a recent accord with the government regarding corn exports, Argentine farmers are again on alert following statements from officials who did not rule out the possibility of increasing taxes on food exports as part of its effort to control high inflation.
Friday, February 5th 2021 - 12:39 UTC
Argentine oil and gas activity picking up in Vaca Muerta shale deposits

$The number of frac stages in Vaca Muerta rose 39% to 662 in January from 477 in November$

Fracking activity in Vaca Muerta, Argentina shot up in January to its highest level in 17 months, according to the Argentine unit of Houston-based services company NCS Multistage.
Friday, February 5th 2021 - 09:55 UTC
Fernandez and Bolsonaro expected to share a family photo on the 30th anniversary of Mercosur

Argentine ambassador in Brazil, Daniel Scioli, has confirmed what was advanced by Uruguayan president Luis Lacalle Pou during this week's meeting with his Brazilian counterpart Jair Bolsonaro, a meeting of Mercosur heads of state, sometime at the end of March. The summit will coincide with the thirtieth anniversary of the trade block, which also includes Argentina and Paraguay.
Friday, February 5th 2021 - 08:21 UTC
Bank of England tells banks to prepare for negative interest rates

The Bank of England (BOE) told banks to start getting ready for negative interest rates but added that the message shouldn’t be taken as a signal that the policy is imminent. The BOE made the announcement as it held its key rate at a record low of 0.1%.
Thursday, February 4th 2021 - 09:58 UTC
Lacalle Pou agreed with Bolsonaro in Brasilia to make Mercosur more flexible

The President of Uruguay, Luis Lacalle Pou, traveled overseas for the first time to meet with Brazilian President Jair Bolsonaro, in a meeting in which they discussed the idea of “making Mercosur more flexible” and the possibility of a face-to-face summit with the leaders of Argentina and Paraguay at the end of March.
Thursday, February 4th 2021 - 09:32 UTC
Brazil ends the Car Wash anti corruption unit, which sent top politicians and business leaders to jail

Brazil’s Car Wash anti-corruption unit has officially been disbanded putting an end for a team of prosecutors that sent dozens of Brazilian and regional political and business leaders to jail, including several former presidents.
Wednesday, February 3rd 2021 - 09:20 UTC
Brazil industrial production down 4,5% last year, auto and clothing worst hit

Brazil’s industrial output plunged by 4.5% last year as the coronavirus pandemic battered Latin America’s largest economy, particularly the auto and clothing industries, the national statistics institute reported on Tuesday.
Wednesday, February 3rd 2021 - 08:00 UTC
Dragui, ex ECB chief invited to form a new government in Italy

Italian President Sergio Mattarella has invited former European Central Bank (ECB) chief Mario Draghi to talk about forming a new government. Dragui passed the ECB baton to Christine Lagarde in 2019 after an eight-year stint. Draghi is set to meet President Matarella later on Wednesday.