Economy

Wednesday, August 26th 2020 - 09:18 UTC
Italy forges closer relations with China and cautions on a re surge of a “cold war”

Italy and China need to forge closer ties, Italian Foreign Minister Luigi Di Maio said on Tuesday, potentially putting Rome at odds with Washington, which has raised alarm over Beijing's economic ambitions.
Monday, August 24th 2020 - 09:25 UTC
Despite Merkel’s “serious doubts,” German industry defends the Mercosur-EU agreement

After Germany’s Chancellor Angela Merkel stated on Friday “considerable doubts” over whether to keep backing the European Union’s (EU) trade deal with the Mercosur due to environmental threats that represent the deforestation in Brazil’s Amazonia, the Association of German Chambers of Industry and Commerce (DIHK) responded defending the agreement that was reached last year.
Saturday, August 22nd 2020 - 09:40 UTC
Venezuela, Argentina and Colombia among the highest rates in Bloomberg's Misery Index

Bloomberg’s Misery Index, which tallies inflation and unemployment outlooks for 60 economies shows that almost all of the economies surveyed are projected to be more miserable this year amid Covid-19, with analysts expecting increased joblessness and tepid growth.
Saturday, August 22nd 2020 - 08:38 UTC
Argentina freezes TV, Internet and mobile service until 2021

Argentina is extending a price freeze for TV, Internet, and mobile service until the end of the year, deeming them “essential public services.”
Saturday, August 22nd 2020 - 08:05 UTC
Argentina's wheat crop under pressure from unfavorable climate conditions

Argentina's wheat crop continued to remain under pressure amid growing unfavorable weather conditions, which are casting doubts of further crop loss. Wheat planting in Argentina was 100% completed in the week to Aug. 19, but recent frost conditions, with variable intensity, have hit most parts of its key wheat regions, rendering current growth conditions unfavorable for the crop, the Buenos Aires Grain Exchange said in its report released on Aug. 20.
Thursday, August 20th 2020 - 10:55 UTC
Investor's concern with the shaky Argentine economy, despite the deal with bond holders

Argentine bonds extended a recent dip after the government formalized its US$ 65 billion debt restructuring offer, underscoring investor concern about the country’s shaky economy despite creditors’ rallying behind a deal.
Thursday, August 20th 2020 - 08:38 UTC
In two years Apple doubled its value to US$ 2 trillion, becoming world's most costly listed company

Just two years after Apple became the first publicly listed US company with a US$1 trillion stock market value, the iPhone maker has now topped US$2 trillion. The Cupertino, California-based company's shares briefly rose to as high as US$468.65 on Wednesday, equivalent to a market capitalization of US$2.004 trillion.
Wednesday, August 19th 2020 - 09:54 UTC
Latam lost US$ 890 million in the second quarter and has laid off 30% of its pre-pandemic workforce

LATAM Airlines, South America's largest carrier, on Tuesday said it had laid off 12,600 employees since March - or almost 30% of its pre-coronavirus workforce - due to the pandemic that has upended the global travel industry. The company also reported a net loss of US$ 890 million for the second quarter.
Wednesday, August 19th 2020 - 09:40 UTC
Chile's GDP plunged 14,1% in the second quarter; mining the only positive sector

Chile's gross domestic product (GDP) plunged 14.1% in the second quarter, the Central Bank said on Tuesday, after the coronavirus pandemic mauled economic activity with the exception of the vital mining sector. Among the worst-hit sectors were manufacturing, construction and the hotel and restaurant sector. In the first quarter, the Chilean GDP had increased slightly by 0.2%.
Wednesday, August 19th 2020 - 09:19 UTC
Despite rumors, Brazilian economy minister has no intention of resigning

Brazil’s Economy Minister Paulo Guedes has no intention of resigning according to reports in the Sao Paulo media, in an attempt to quash rising speculation that political pressure for more public spending could force him to quit.