Economy

Thursday, February 20th 2020 - 08:55 UTC
Coronavirus “is our most pressing uncertainty...” for the global economy, admits IMF chief

In the best-case scenario, the economic hit from the epidemic in China will be short-lived, but it comes as the global economy remains fragile, IMF chief Kristalina Georgieva said on Wednesday.
Thursday, February 20th 2020 - 08:54 UTC
World Bank aid to the neediest countries ended in offshore bank accounts, shows data from tax havens and BIS

World Bank aid payments to the neediest countries appear to trigger money flows to offshore bank accounts, suggesting funds are siphoned off from the nations they are meant to help, according to a study published on Tuesday.
Thursday, February 20th 2020 - 08:25 UTC
Beijing/US media war: three WSJ newsroom journalists expelled over an OPED column

China on Wednesday ordered three reporters from The Wall Street Journal to leave the country over what Beijing deemed a racist headline, in one of the harshest moves against foreign media in years.
Thursday, February 20th 2020 - 08:14 UTC
China back in the market for US agricultural commodities

China is back in the market for US agricultural commodities after issuing a list of products that will be eligible for tariff waivers, according to market sources. US exporters sold at least two sorghum cargoes to China after buyers bid for supplies to be shipped in the first half of the year. Importers also inquired about soybeans on Wednesday, a day after asking about wheat prices in a move that sent Chicago futures rallying.
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