Economy

• Tuesday, May 12th 2020 - 09:00 UTC

  Argentina extends debt negotiations deadline to “increase participation” and “better alternatives”

  

  Argentina will extend negotiations over a US$ 65bn debt restructuring proposal until May 22, the government said in the official gazette on Monday. The extension sets the stage for tense last-ditch talks as Argentina races to avoid default.

• Tuesday, May 12th 2020 - 08:50 UTC

  Bolsonaro declares gyms and salons as essential services

  

  Brazilian President Jair Bolsonaro on Monday declared gyms and hair salons as essential services that can stay open through the new coronavirus outbreak, easing measures to control the disease despite new cases and deaths surging in the country.

• Tuesday, May 12th 2020 - 08:18 UTC

  Beijing disappointed with Australia: suspends meat imports from four abattoirs

  

  China has suspended meat imports from four Australian abattoirs, fuelling concerns that escalating tensions between the two nations are damaging Australia's most important trading relationship.

• Tuesday, May 12th 2020 - 07:49 UTC

  Trump opposes renegotiating US-China Phase 1 trade deal despite Beijing concerns

  

  US President Donald Trump said on Monday he opposed renegotiating the US-China “Phase 1” trade deal after a Chinese state-run newspaper reported some government advisers in Beijing were urging fresh talks and possibly invalidating the agreement.

• 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