Economy

Tuesday, October 8th 2019 - 09:46 UTC
Higher prices for vegetable oils and meat during September, FAO report

Global food prices were steady in September, as lower sugar prices were offset by increased quotations for vegetable oils and meat. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities, averaged 170 points in September, virtually unchanged from August and 3.3 per cent higher than in the same month in 2018.
Tuesday, October 8th 2019 - 09:22 UTC
Dry spell blamed for the slowest 2019/2020 soybean planting season in Brazil

Brazilian farmers have planted 3.1% of the estimated soybean area for the 2019/2020 crop, agribusiness consultancy AgRural said on Monday, blaming a lack of rain for the slowest start to the season in six years.
Tuesday, October 8th 2019 - 09:09 UTC
Weaker demand and Argentine situation hit hard Brazilian auto industry

Brazil’s auto industry trade group Anfavea has slashed its forecast for 2019 vehicle production growth to a modest 2.1% from 9% previously, it said on Monday. Anfavea had big plans this year for Brazil’s auto industry, which has been slowly recovering from a significant slump.
Monday, October 7th 2019 - 09:48 UTC
Ecuador in turmoil: shopkeepers arrested for raising food prices while street clashes continue

Ecuadorean authorities began arresting shopkeepers for raising food prices as indigenous groups clashed with security forces on Sunday in the fourth day of protests against President Lenin Moreno's austerity measures.
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.