Economy

• Thursday, September 26th 2019 - 13:35 UTC

  What is the economic fallout from the Saudi Arabia oil facility attack?

  

  A violent attack on Saudi Arabia’s oil infrastructure was carried out earlier this month. Some 18 drones and seven cruise missiles were reportedly fired in the direction of several oil facilities in the region. The Abqaiq facility was the primary location of attack, while cruise missiles struck an oilfield in Khurais, just east of the city of Riyadh.

• Thursday, September 26th 2019 - 09:56 UTC

  Resumption of Argentina's financial program with IMF frozen... and “will have to wait”

  

  Argentina’s financial program with the International Monetary Fund (IMF) will be on hold for some time as the nation grapples with severe political and economic uncertainty, the Fund’s Acting Managing Director David Lipton said an interview.

• Thursday, September 26th 2019 - 09:45 UTC

  Lagarde defends IMF decision to support Argentina with a record credit

  

  Christine Lagarde has defended the IMF decision to give Argentina a record credit line last year, even after the US$56-billion program fell short of stabilizing the nation’s troubled economy.

• Thursday, September 26th 2019 - 07:53 UTC

  Johnson asks how come Thomas Cook directors paid themselves large sums when a business goes down the tube

  

  After the collapse of Thomas Cook left hundreds of thousands of passengers reliant on the British state to repatriate them, Prime Minister Boris Johnson questioned whether bosses should have paid themselves so much ahead of its demise.

• Thursday, September 26th 2019 - 07:42 UTC

  Bulgaria's Georgieva is the new IMF Managing Director; second woman in the post, takes office October first

  

  The International Monetary Fund on Wednesday formally selected Kristalina Georgieva of Bulgaria to be only the second woman ever to lead the 189-member institution. The selection had been all but guaranteed after the global crisis lender said earlier this month that Georgieva, a former World Bank CEO, was the sole candidate.

• Wednesday, September 25th 2019 - 09:54 UTC

  Macri holds a 'constructive meeting' with IMF, but no news about the pending tranche of a major loan

  

  Argentine President Mauricio Macri met with his International Monetary Fund backers in New York on Tuesday, but there was little light shed on whether the body was likely to approve a key US$ 5.4 billion tranche of funds to the indebted country.

• Wednesday, September 25th 2019 - 09:49 UTC

  Moody's urges Brazil to implement economic reform and balance public finances

  

  An improvement in Brazil’s sovereign credit rating hinges more on stronger economic growth than lower interest rates, rating agency Moody’s said on Tuesday, urging economic reform and the shoring up of public finances.

• Wednesday, September 25th 2019 - 09:45 UTC

  US provides US$ 52 million in support funds for Venezuelan opposition

  

  The United States said on Tuesday it will provide US$52 million in funding to Venezuelan opposition leader Juan Guaido, an escalation of support even as his push to oust socialist President Nicolas Maduro stalls.

• Wednesday, September 25th 2019 - 09:38 UTC

  Persistently low inflation in Brazil anticipates further cut in interest rate

  

  Gradual economic growth and persistently low inflation in Brazil are likely to pave the way for a further reduction in interest rates, the country’s central bank indicated on Tuesday, warning that global economic conditions appear to be deteriorating.

• Wednesday, September 25th 2019 - 09:04 UTC

  Brazilian farmers face the challenge of African Swine Fever impact in China

  

  Chinese commodities trader COFCO said it expects a sharp drop in the number of soybeans it will source for export from Brazil this year due to an outbreak of African Swine Fever (ASF) in China that has hurt demand for animal feed.