Economy

• Saturday, November 16th 2019 - 08:34 UTC

  First Falklands' fishing company signs the 51% Joint Venture shareholding under the new ITQ criteria

  

  Ahead of the Falkland Islands Government Executive Committee decision recently setting out new criteria for Individual Transferable Quota (ITQ) extensions from 2021 to 2046 Beauchene Fishing Co Ltd and Copemar S.A signed a new Joint Venture agreement to commence from 2021.

• Friday, November 15th 2019 - 09:50 UTC

  New record high for the US dollar in Chilean markets: 820 Pesos

  

  Chile's central bank announced a US$ 4 billion injection to stop a currency slide that saw the peso reach historic lows on successive days this week. The peso fell to 820 to the dollar at the close Thursday, breaking the 800 Pesos milestone.

• Friday, November 15th 2019 - 09:48 UTC

  Bolsonaro: Brazil trades with all the world and will stay out of the US/China dispute

  

  Brazil will not get involved in a trade war, President Jair Bolsonaro said on Thursday, after US-foes China and Russia criticized growing protectionism as the global economy slows. Bolsonaro, who has been walking a diplomatic tightrope at the BRICS summit in Brazil this week as he seeks to strengthen ties with China without upsetting key ally Donald Trump, said Brazil “trades with the entire world.”

• Friday, November 15th 2019 - 09:42 UTC

  BRICS summit condemns protectionism and pledges to overcome challenges faced by multilateralism

  

  Five of the biggest emerging economies railed against protectionism on Thursday as they vowed to overcome “significant challenges” facing multilateralism, in a swipe at US tariffs and unilateral action.

• Friday, November 15th 2019 - 09:40 UTC

  First shipment of Vaca Muerta shale LNG to Brazil

  

  Argentine oil company YPF SA has sold its first commercial liquefied natural gas (LNG) cargo to Brazilian state energy firm Petrobras, according to media reports in Buenos Aires.

• Friday, November 15th 2019 - 09:29 UTC

  Brazil discussing a trade deal with Beijing; Chinese company planning US$ 1bn investment in port

  

  President Jair Bolsonaro and Economy Minister Paulo Guedes want to strengthen trade relations with China. Guedes said the creation of a free trade area between the two countries is under negotiation.

• Thursday, November 14th 2019 - 18:23 UTC

  OECD report warns about the middle class “squeezed by the ultra rich”

  

  Middle-class families are seeing their incomes stagnating as they are squeezed by the ultra-rich taking a bigger slice, says an international report from the OECD economics think tank.

• Thursday, November 14th 2019 - 09:50 UTC

  Fed chief Powell urged Congress to take action on rising US debt and deficit

  

  Federal Reserve chief Jerome Powell urged Congress on Wednesday to take action on the rising US debt and deficit to ensure the continued growth of the American economy. Called before the Joint Economic Committee to discuss the economic outlook, the central bank chief stressed that it was not his role to give policy advice, before he gave diplomatically-worded policy advice.

• Thursday, November 14th 2019 - 08:50 UTC

  Tusk forecasts UK will become “a second-rate player” after it leaves the EU

  

  Britain will lose influence in international affairs and become a “second-rate player” after it leaves the European Union, European Council President Donald Tusk said on Wednesday.

• Wednesday, November 13th 2019 - 09:49 UTC

  Protests continue in Chile as economy faces “grave consequences” and Peso plunges to a historic low

  

  Chile’s finance minister warned on Tuesday of the “grave consequences” for the nation’s economy of three weeks of often violent unrest after the peso slid 4% to hit a historic low against the dollar. Ignacio Briones said the weakening of the peso was a “sign of worry” that he and his colleagues were watching very carefully.