Economy

Monday, October 7th 2019 - 09:47 UTC
Amazon planning a regional data center in Argentina; congress passes bill to attract digital services and nanotechnology

Amazon.com Inc.’s cloud division plans to build a regional data center in a free-trade zone in Argentina, according to Buenos Aires media reports. The Seattle-based company is preparing to invest about US$ 800 million in the project over 10 years and will reap considerable tax benefits by locating the data center in the Bahia Blanca-Coronel Rosales districts of the province of Buenos Aires.
Monday, October 7th 2019 - 09:40 UTC
Russia pledges to help Cuba have access to oil and petroleum products

Russia will find ways to help Cuba get oil and petroleum products, Russian Prime Minister Dmitry Medvedev said in an interview broadcast on Saturday. Medvedev pledged to help develop Cuba’s energy sector during a visit to the island this week but did not announce any short-term measures to provide relief from crippling fuel shortages in the wake of tougher U.S. sanctions.
Monday, October 7th 2019 - 09:21 UTC
Johnson puts pressure on EU leaders and insists on no request delay for Brexit beyond October 31

British Prime Minister Boris Johnson warned the European Union on Sunday he will not delay Brexit beyond Oct 31, underlining that his latest proposals are the last chance to reach a deal.
Monday, October 7th 2019 - 09:20 UTC
California lawsuit against online travel agencies “for unscrupulous” business practices

California has launched a lawsuit against online travel agencies FlightHub and JustFly for alleged “unscrupulous business practices, designed to fleece the average consumer.” FlightHub and JustFly’s parent company is Montreal-based FlightHub Group, formerly known as Momentum Ventures.
Monday, October 7th 2019 - 09:03 UTC
“Be in no doubt - independence is coming,” thousands march in Edinburgh

Tens of thousands of Scottish independence supporters marched in Edinburgh on Saturday, as calls grow for a fresh vote on Scotland breaking away from the United Kingdom with Brexit scheduled for within weeks.
Saturday, October 5th 2019 - 09:37 UTC
US unemployment at a record 50-year low in September, but manufacturing fell sharply

The U.S. unemployment rate dropped to near a 50-year low of 3.5per cent in September, with job growth increasing moderately, suggesting the slowing economy could avoid a recession for now despite trade tensions that are hammering manufacturing.
Friday, October 4th 2019 - 09:55 UTC
Ecuador will eliminate fuel subsidies and tighten the belt of public employees

Ecuadorean President Lenin Moreno said that his government will eliminate subsidies for diesel and low-octane gasoline and create a new corporate tax as part of a package of measures to narrow the country’s fiscal deficit.
Friday, October 4th 2019 - 09:50 UTC
Ecuador declares state of emergency to contain protests against elimination of fuel subsidies

Ecuador's President Lenin Moreno declared a state of emergency Thursday as protests broke out nationwide over the end of decades-old fuel subsidies as part of a $2 billion government fiscal reform package. Police responded with tear gas in the worst unrest for years in the oil-producing Andean nation.
Friday, October 4th 2019 - 09:40 UTC
 Argentine industrial activity dropped 6.4% in August and 8.1% so far this year

Industrial activity in Argentina dropped 6.4% during August compared to a year ago and 2.8% over last July, totalling a slide of 8.1% so far this year, according to the official stats office, Indec.
Thursday, October 3rd 2019 - 09:54 UTC
Developing nations foreign debt reaches US$ 7.8 trillion, World Bank report

Total foreign debt held by developing nations jumped more than 5% to US$7.8 trillion, driven by a surge in Chinese debt, the World Bank said in a report on Wednesday.