Economy

• Thursday, June 6th 2019 - 09:58 UTC

  Mercosur's Common External Tax in the agenda Bolsonaro will discuss with Macri in Buenos Aires

  

  Brazil and Argentina have started discussing a reduction in the common external tariff (TEC) of the Mercosur trade block, sources in both governments revealed on Wednesday, as their market-friendly presidents look to boost economic growth.

• Thursday, June 6th 2019 - 09:57 UTC

  Falklands' MPA catering and logistics service contract extended three years

  

  Sodexo has extended its contracts with the Ministry of Defense (MoD) to provide a range of support services to the UK’s Armed Forces in Cyprus and the Falkland Islands for a further three years.

• Thursday, June 6th 2019 - 09:56 UTC

  Banks making too much money, “more competition is needed” blasts Brazilian economy minister

  

  Brazilian banks are chalking up “excessive” profits, Economy Minister Paulo Guedes said, adding that the country needs an injection of competition to end what he called the cartels that dominate many of its major sectors.

• Thursday, June 6th 2019 - 09:55 UTC

  Trump administration clamps down on US tourist visits to Cuba: cruise industry in shock

  

  The Trump administration clamped down on US tourist visits to Cuba on Tuesday, aiming to cut the flow of dollars to a country that Washington accuses of helping prop up Venezuelan President Nicolas Maduro.

• Thursday, June 6th 2019 - 08:41 UTC

  Argentine construction industry contracts 7.5% in April and 10.3% in four months

  

  The construction industry in Argentina contracted 7.5% last April, the eighth consecutive month, with an overall drop of 10.3% in the first four months of the year. According to the country's stats office Indec, the Indicator of Construction Activity, during April fell 0.3% from March.

• Thursday, June 6th 2019 - 08:37 UTC

  Argentina's industrial output down 8.8%; car production falls 35.3% in twelve months

  

  Argentina’s industrial output fell 8.8% in April compared with the same month a year ago, official data showed on Wednesday, marking 12 straight months of production losses as the economy struggles with recession and rapidly-rising consumer prices.

• Thursday, June 6th 2019 - 08:15 UTC

  China injects liquidity to help small banks with cash following the takeover of a troubled lender

  

  Boosting liquidity to the financial system on Thursday, China's central bank signaled its readiness to supply smaller banks with a steady stream of cash after the takeover of a troubled lender, letting more banks access the funds.

• Thursday, June 6th 2019 - 08:11 UTC

  Fiat-Chrysler merger with Renault falls through: French politics blamed

  

  Fiat Chrysler said it has abandoned its US$35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world's third-biggest automaker.

• Wednesday, June 5th 2019 - 21:00 UTC

  Uruguay: Finances don't grow; Economy Minister estimates an improvement for the second semester, as Macri did

  

  Uruguay is experiencing, in recent months, a marked drop in investment and the generation of employment. Uruguayan Economy Minister Danilo Astori admitted Wednesday the fall of public accounts, with an annualized fiscal deficit in April that was 4.8% of GDP, and opted to provide greater incentives to investors and entrepreneurs. The Uruguayan press accuses the government of betting on the hope that the results will begin to be felt in the second half of the year, as it was heard a while ago in Argentina under the administration of President Mauricio Macri.

• Wednesday, June 5th 2019 - 13:01 UTC

  Falkland Islands Reception in London

  

  Marking another successful year the Annual Falkland Islands Government Reception took place on Tuesday 4th June at Middle Temple, London.