Economy

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.
Tuesday, May 19th 2020 - 08:47 UTC
Latin American stocks and currencies rise on hopes of global economic recovery

Latin American stocks and currencies roared higher on Monday, with Brazil shares rising 3.5% as commodity prices surged on hopes of economic recovery as countries eased pandemic-induced lockdowns.
Tuesday, May 19th 2020 - 08:42 UTC
LATAM Chile, Colombia, Ecuador, Peru to lay off 1,400 workers

LATAM Airlines Group, the largest airline conglomerate in Latin America, announced it will lay off 1,400 workers from its branches in Chile, Colombia, Ecuador, and Peru. The news was confirmed by the company on May 15, after Reuters released an internal video where LATAM CEO Roberto Alvo announced the measures to its employees.
Tuesday, May 19th 2020 - 08:03 UTC
France and Germany confirm alliance and propose 500 bn Euro recovery fund for Europe

France and Germany proposed on Monday a 500-billion-euro (US$545-billion) fund to finance the recovery of the European Union's economy from the devastation wrought by the coronavirus crisis.
Tuesday, May 19th 2020 - 08:02 UTC
China slaps 80% tariff on Australian barley alleging subsidies and dumping

Australia is “disappointed” China has imposed massive tariffs on its barley and will consider taking the dispute to the World Trade Organization, the country's agriculture minister said on Tuesday.