Economy

Thursday, February 20th 2020 - 08:06 UTC
Jaguar Land Rover running out of Chinese parts for UK factories: some parts flown in suitcases

Jaguar Land Rover has flown in parts in suitcases as the effects of coronavirus take a toll on the carmaker's supply chain. It said it could start to run out of Chinese parts for its UK factories after two weeks.
Thursday, February 20th 2020 - 07:53 UTC
US considers five China state run media entities as “foreign missions” and must register with the State Department

The United States will begin treating five major Chinese state-run media entities with U.S. operations as “foreign missions” and operatives of Beijing’s government, requiring them to register their employees and U.S. properties with the State Department.
Thursday, February 20th 2020 - 07:50 UTC
Cayman Islands, Panama, Palau and Seychelles in the EU tax havens blacklist

The European Union has added the Cayman Islands, a UK overseas territory, to its tax havens blacklist. It joins Oman, Fiji and Vanuatu, which have also been accused of failing to crack down on tax abuse.
Wednesday, February 19th 2020 - 06:49 UTC
China lifts tariffs on 696 products imported from the US, including farm and energy products

China said on Tuesday it would accept applications for new tariff exemptions for 696 products imported from the United States including key agricultural and energy products such as pork, beef, soybeans, liquefied natural gas and crude oil.
Wednesday, February 19th 2020 - 06:46 UTC
Argentina industrial activity plummeted 6.3% in 2019, for the second year running

Argentina industrial activity plummeted 6.3% during 2019, completing two consecutive years of losses, reported the Argentina Industrial Union following a survey of the sector which showed auto manufacturing suffered the greatest contraction, 32.5%.
Wednesday, February 19th 2020 - 06:45 UTC
IMF chief: we are rethinking our advice to emerging markets

We need to understand better how various policy options interact our goal is to provide country-specific advice on the appropriate mix of policies needed to preserve growth and financial stability
Wednesday, February 19th 2020 - 06:42 UTC
Cuba short of oil forced to burn old tyres to power factories

The Cuban government has ordered a cement factory to burn old tyres to power its operations and save on oil, amid a worsening fuel shortage brought on by US sanctions on the Communist island.
Tuesday, February 18th 2020 - 06:55 UTC
IMF chief denies any haircut on the Argentine loan; Alberto Fernandez questions the decision

The International Monetary Fund, as the lender of last resort, won’t offer a haircut on its Argentina loan after Vice President Cristina Fernandez de Kirchner called on the institution to take a loss.
Tuesday, February 18th 2020 - 06:32 UTC
FT: “Argentina needs a plan for investment-led growth”

The Financial Times dedicated on Monday an editorial to Argentina and its current strategy to avoid again defaulting by pressing on the IMF, and later on sovereign bondholders, for a significant haircut in its national debt approaching 90% of GDP. However, FT points out that “debt talks are unlikely to succeed without a strategy for economic revival”
Tuesday, February 18th 2020 - 06:25 UTC
Bolsonaro insists in a good relation with Argentina, and insists in meeting with Alberto Fernandez

Brazilian president Jair Bolsonaro said on Monday he wants a “good relationship” with Argentina and it is up to the foreign ministers of both countries to agree on a meeting with his peer Alberto Fernandez, since the announced summit scheduled for March first in Montevideo, had fallen through.