Economy

Friday, May 22nd 2020 - 07:25 UTC
China plans to increase 6,6% defense spending in fiscal year

China's defense spending this year will rise 6.6% from 2019, according to a report issued at the opening of the country's annual meeting of parliament on Friday, a slower rate than last year.
Thursday, May 21st 2020 - 08:55 UTC
Argentina and creditors find a path to reach an understanding and avoid default

Argentina’s Economy Minister Martin Guzman has hinted that make-or-break talks with international creditors are likely to continue beyond the looming May 22 deadline. It has tentatively elevated hopes that the crisis-prone country will be able to avoid its ninth sovereign debt default.
Thursday, May 21st 2020 - 08:29 UTC
US Senate votes a bill targeting Chinese companies' opacity in US exchanges

The U.S. Senate passed legislation on Wednesday that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they follow standards for U.S. audits and regulations.
Wednesday, May 20th 2020 - 22:02 UTC
In post-pandemic, making the transport sector “green” could create 15 million new jobs, ILO

Transforming the transport sector to be more environmentally-friendly in the aftermath of the COVID-19 pandemic, could create up to 15 million new jobs worldwide and help countries move to greener, healthier economies, according to an UN-backed report published on Tuesday.
Wednesday, May 20th 2020 - 21:54 UTC
Argentina establishes a minimum oil price of US$ 45/barrel for domestic sales

Oil companies in Argentina are obligated to maintain production, payrolls, and investment and cannot repatriate profits under a decree that establishes above-market prices for domestic crude. The decree published on Tuesday sets a minimum price of US$ 45/bl for domestic sales of light sweet Medanito crude.
Wednesday, May 20th 2020 - 08:56 UTC
Puerto Madryn 2020/21 cruise season agenda and calls “stand”; first vessel expected 25 October

The head of the port's administration of Puerto Madryn, in Argentine Patagonia, said that so far the coming 2020/21 cruise season “stands”, and the first vessel is scheduled to call in the Chubut province maritime terminal next 25 October, despite the pandemic.
Wednesday, May 20th 2020 - 08:55 UTC
Argentine government negotiating creditors' counteroffers ahead of Friday deadline

Argentina’s government and its creditors are edging toward a deal to revamp US$ 65 billion in foreign debt but still have a distance to close between an initial offer from the government and counteroffers from bondholders ahead of a Friday deadline.
Wednesday, May 20th 2020 - 08:54 UTC
Chilean army sent to contain hungry mobs in poor neighborhoods of Santiago

Coronavirus cases soared in Chile on Tuesday as soldiers were deployed to back up riot police in Santiago following clashes with demonstrators angry about food shortages and job losses.
Tuesday, May 19th 2020 - 14:33 UTC
Tim Atkin's report on the remarkable transformation of Argentine wines

The latest annual report, which is available through his website timatkin.com, is the eighth of his annual reports from Argentina. Atkin said: “I first went to Argentina in 1992 and the transformation has been remarkable. I can’t think of another country, even South Africa that has changed so much in my wine writing lifetime.
Tuesday, May 19th 2020 - 08:53 UTC
WHO admits an independent probe into the coronavirus management; China pledges US$ 2 Billion

The World Health Organization bowed to calls on Monday from most of its member states to launch an independent probe into how it managed the international response to the coronavirus, which has been clouded by finger-pointing between the U.S. and China over a pandemic that has killed over 300,000 people and leveled the global economy.