Economy

Sunday, February 28th 2021 - 10:11 UTC
Caged cattle in a rogue vessel stranded in the Mediterranean will be sacrificed

Some 864 head of cattle aboard the ship “Karim Allah” are to be sacrificed, Spanish authorities confirmed on Saturday, following days of controversy over the animals' health.
Friday, February 26th 2021 - 13:54 UTC
IMF admits discussions with Argentina continue but no meeting planned for May

IMF has no date yet set for its next visit to Argentina to discuss replacement to a failed 2018 program, a spokesman for the Fund advanced on Thursday. The parties could next meet in Washington soon, as Argentine Economy Minister Martin Guzman will visit the U.S. capital next month, according to Buenos Aires sources.
Friday, February 26th 2021 - 11:46 UTC
WTO new chief admits reforming the dispute resolution body “won't be easy”

Reforming the World Trade Organization’s paralyzed dispute-resolution body will be a key priority for the institution, but the process won’t be easy, incoming Director-General Ngozi Okonjo-Iweala said.
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.