Economy

Wednesday, April 8th 2020 - 07:29 UTC
China unseats the US as the world leader in international patent filings

China last year became the world leader in international patent filings, unseating the United States which had held the top spot for more than four decades, the UN said on Tuesday. A record 265,800 international patent applications were filed last year, a hike of 5.2% from 2018, the World Intellectual Property Organization said in its annual report.
Tuesday, April 7th 2020 - 08:59 UTC
Argentina beef exports to the EU and China plunge

Market reports suggest that Argentine beef shipments to the European Union have reduced to almost zero amid the global coronavirus pandemic. Sales to China, the main buyer, have dropped below 2019 levels.
Tuesday, April 7th 2020 - 07:53 UTC
US markets bullish response to Trump's “Light at the end of the tunnel”

Hopes that the economy-crushing coronavirus pandemic might be easing sent Wall Street climbing sharply on Monday with all three main indices higher at the close of trading.
Tuesday, April 7th 2020 - 07:50 UTC
COVID-19 hits hard US economy, with millions of jobs lost, but the dollar remains king

The COVID-19 outbreak in the United States has caused millions of people to lose their jobs and brought the economy to its knees but it has not dethroned the American dollar. On the contrary, the currency has risen in value this year, gaining six percent from its lowest point reached in early March, according to the US dollar index, which measures the greenback's value against a basket of other currencies.
Tuesday, April 7th 2020 - 07:49 UTC
US warns China following the sinking of a Vietnamese fishing vessel near disputes islands

The United States on Monday warned China not to take advantage of the coronavirus pandemic to exert itself in the South China Sea after Vietnam said Beijing sank a trawler.
Monday, April 6th 2020 - 08:50 UTC
Argentina postpones payments of bonds issued under local law, some US$ 10bn

Argentina is postponing payments on up to US$ 10 billion debt (interests and capital) that was issued under local law until the end of the year, the government said in a decree late on Sunday, in a bid to relieve pressure over looming foreign currency payments.
Saturday, April 4th 2020 - 09:18 UTC
Chaos in Argentine banks as crowds tried to collect government assistance

Argentines left their homes in droves as banks reopen their branches to give out government assistance. Thousands of pensioners and citizens who receive government welfare lined up outside banks to get their monthly payments. Branches, which have been closed since a nationwide lockdown began March 20, reopened Friday so that citizens who can't receive the payments on debit could receive the cash.
Saturday, April 4th 2020 - 09:05 UTC
Moody's downgrades Argentina's credit rating

Moody's downgraded Argentina’s credit rating on Friday, cutting it to Ca from Caa2 in a move that reflects the firm’s expectation that private creditors will incur losses as a result of the government’s efforts to restructure its sovereign debt.
Saturday, April 4th 2020 - 08:18 UTC
Record unemployment filing in US in two weeks; “economy has slipped into recession”

The number of Americans filing claims for unemployment benefits shot to a record high of more than 6 million last week as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.
Saturday, April 4th 2020 - 08:10 UTC
Pandemic: Paraguay receives US$ 20 million to support its health system

The World Bank Board of Directors approved today a loan of US$20 million to support Paraguay in strengthening its health system in the face of the coronavirus pandemic (Covid-19). In the context of the country's current health situation, already affected by the worst dengue outbreak in recent years, the project will help strengthen the already overburdened health system through the purchase of medical supplies and equipment.