Economy

Wednesday, February 19th 2020 - 06:42 UTC
Cuba short of oil forced to burn old tyres to power factories

The Cuban government has ordered a cement factory to burn old tyres to power its operations and save on oil, amid a worsening fuel shortage brought on by US sanctions on the Communist island.
Tuesday, February 18th 2020 - 06:55 UTC
IMF chief denies any haircut on the Argentine loan; Alberto Fernandez questions the decision

The International Monetary Fund, as the lender of last resort, won’t offer a haircut on its Argentina loan after Vice President Cristina Fernandez de Kirchner called on the institution to take a loss.
Tuesday, February 18th 2020 - 06:32 UTC
FT: “Argentina needs a plan for investment-led growth”

The Financial Times dedicated on Monday an editorial to Argentina and its current strategy to avoid again defaulting by pressing on the IMF, and later on sovereign bondholders, for a significant haircut in its national debt approaching 90% of GDP. However, FT points out that “debt talks are unlikely to succeed without a strategy for economic revival”
Tuesday, February 18th 2020 - 06:25 UTC
Bolsonaro insists in a good relation with Argentina, and insists in meeting with Alberto Fernandez

Brazilian president Jair Bolsonaro said on Monday he wants a “good relationship” with Argentina and it is up to the foreign ministers of both countries to agree on a meeting with his peer Alberto Fernandez, since the announced summit scheduled for March first in Montevideo, had fallen through.
Tuesday, February 18th 2020 - 06:11 UTC
Argentine meat industry suffering great losses because of coronavirus and closure of Chinese market

Argentina's meat industry is becoming highly complicated because of the drop in exports to its main market, China, warned Daniel Urcía, vice-president of the Argentine regional abattoirs industry, FIFRA.
Tuesday, February 18th 2020 - 00:25 UTC
Falkland Islands Falkland Islands expenses figures for 2019

Gilbert House, seat of the Falkland Islands Legislative Assembly has released its expenses figures for 2019, detailing the money paid on claims by each of the Members of the Legislative Assembly. The expenses are broken down into headings such as flights, accommodation, meals, telephone, and internet.
Monday, February 17th 2020 - 08:35 UTC
IMF admits coronavirus epidemic could damage global economic growth

The coronavirus epidemic could damage global economic growth this year, the IMF head said on Sunday, but a sharp and rapid economic rebound could follow. “There may be a cut that we are still hoping would be in the 0.1 to 0.2 percentage space,” the managing director of the International Monetary Fund, Kristalina Georgieva, told the Global Women's Forum in Dubai.
Monday, February 17th 2020 - 07:13 UTC
Pompeo confident the West is winning and will prevail over Russian and Chinese “empire desires”

US Secretary of State Mike Pompeo defended on Saturday his nation's global role despite misgivings in Europe, vowing that Western values would prevail over Russian and Chinese desires for “empire”.
Saturday, February 15th 2020 - 08:20 UTC
Manchester City banned from EU competition and fined for breaching financial fair play rules; the club will appeal

English champions Manchester City have been banned from European competition for the next two seasons and fined 30 million Euros by European soccer's governing body UEFA after an investigation into alleged breaches of Financial Fair Play (FFP) rules.
Saturday, February 15th 2020 - 07:54 UTC
Trump launches the aircraft trade dispute with the European Union

The U.S. government on Friday said it would increase tariffs on aircraft imported from the European Union to 15% from 10%, ratcheting up pressure on Brussels in a nearly 16-year transatlantic dispute over aircraft subsidies.