Economy

• Tuesday, May 12th 2020 - 07:46 UTC

  Saudi Arabia to cut oil production to a decade record low of 7,5 million bpd

  

  Saudi Arabia said on Monday it had asked oil giant Aramco to cut an additional one million barrels per day from June, to support prices that have crashed during the coronavirus crisis.

• Monday, May 11th 2020 - 08:40 UTC

  Argentina expected to make official the extension of debt offer deadline

  

  Argentina is preparing to extend the deadline to its debt offer to May 22. The government will publish an extension to its debt offer in the official Gazette this Monday, part of President Alberto Fernandez’s next steps in its debt restructuring after extending a deadline over the weekend for creditors to accept an initial offer to exchange $65 billion in overseas bonds.

• Monday, May 11th 2020 - 08:28 UTC

  Germany and EU will become less foreign dependent in medical industry, minister Altmaier

  

  The coronavirus pandemic has shown Europe is too reliant on other countries for some medical supplies, and European states should work together to further diversify international supply chains, German Economy Minister Peter Altmaier said in an interview with global media.

• Monday, May 11th 2020 - 08:07 UTC

  Netherlands aligns with “protectionist” French policy in trade deals conditions

  

  France and the Netherlands have joined forces to urge the European Union to enforce environmental and labor standards more forcefully with countries the bloc signs trade deals with, according to a document anticipated by the Financial Times.

• Monday, May 11th 2020 - 07:48 UTC

  Unemployment will “get worse before they get better”, says Mnuchin

  

  The staggering US unemployment rate reported by the government on Friday amid coronavirus lockdowns may get even worse, Treasury Secretary Steven Mnuchin said on Sunday.

• Saturday, May 9th 2020 - 08:57 UTC

  Argentina open to proposals from bondholders: default deadline stands at 22 May

  

  Argentina will keep pushing for talks with creditors even as a deadline for its US$ 65 billion debt restructuring proposal passed on Friday with little sign it had the support needed from international bondholders to unlock a comprehensive deal. Apparently on averaged less than 20% of bondholders accepted Argentina's conditions

• Saturday, May 9th 2020 - 08:54 UTC

  Brazil's Real recovers slightly on commodities market optimism

  

  Brazil's Real firmed for the first time this week, bouncing from last session's all-time lows, while most other Latin American currencies also strengthened on Friday on signs of easing tensions between the United States and China.

• Saturday, May 9th 2020 - 08:50 UTC

  COVID-19 wipes 20,5 million jobs in the US; unemployment soars to 14,7%

  

  The COVID-19 lockdown wiped out 20.5 million jobs in the United States in April, destroying nearly all the positions created in the prior decade in the world's largest economy, the Labor Department reported on Friday.

• Saturday, May 9th 2020 - 08:48 UTC

  In April Mexico and Brazil produced 5,569 cars instead of half a million

  

  Auto production in Mexico and Brazil, Latin America's top producers, plunged by an unprecedented 99% in April as a result of the coronavirus crisis, with the two countries building a total of just 5,569 vehicles.

• Saturday, May 9th 2020 - 08:45 UTC

  Falklands' schools and Leisure Center will be reopening next Monday

  

  Falkland Islands schools in Stanley are making final preparations for reopening on Monday, May 11. Camp Education, an integral part of the schooling system also re-opens on the same day.