Economy

Tuesday, October 1st 2019 - 09:55 UTC
Argentina's recurring nightmare

By Andrés Bello (*) - Argentine President Mauricio Macri seems almost certain to lose his country’s presidential election next month, after committing the same kinds of economic policy mistakes that so many of his Peronist predecessors made. It is a tragic and catastrophically disappointing denouement.
Tuesday, October 1st 2019 - 09:47 UTC
Brazil's newest oil auction attracting oil majors

Brazil’s newest oil auction is attracting some of the world’s biggest oil majors such as BP, Chevron, CNOOC, ExxonMobil, and Shell, the Brazilian government said on Monday, according to Bloomberg.
Tuesday, October 1st 2019 - 09:37 UTC
Maduro scoffs at EU sanctions and Trump's failed Venezuela policy

Venezuelan President Nicolas Maduro on Monday scoffed at sanctions imposed by the European Union and accused Brussels of doing US President Donald Trump's bidding. “I don't care about the European Union sanctions, the sanctions of the European Union make us laugh,” Maduro told a press conference, saying the EU was “sinking in the mud of Donald Trump's failed Venezuela policy.”
Tuesday, October 1st 2019 - 09:23 UTC
Uruguay expects some 203 cruise calls this 2019/2020 season

Uruguay is expecting 203 calls this coming 2019/20 cruise season, which represents an 11.6% increase over the previous season. The announcement was done by Tourism minister Liliam Kechichian during a conference on the cruise and tourism industry held in the Atlantic seaside of Punta del Este.
Tuesday, October 1st 2019 - 09:03 UTC
Brazil's national debt at a record high in August, 79.8% of GDP

Brazil's national debt rose to the highest on record in August, central bank figures showed on Monday, driven by a combination of increased interest payments, higher borrowing and a weaker exchange rate.
Monday, September 30th 2019 - 08:30 UTC
Dry weather threatens 20% of Argentine winter and summer crops

Dry weather in Argentina is hitting the outlooks for wheat and corn crops, local climate experts said, while low-cost soy is being supported by growers looking to hedge their bets with political uncertainty rising ahead of October's presidential vote.
Monday, September 30th 2019 - 08:13 UTC
Petrobras to concentrate on reducing debt load and deep water exploration

Petrobras’ administration board has approved an update to its plan for the next five years that is expected to call for the state-run oil and gas company to dump its gas distribution and transport business, its fertilizer business, and its LPG and biodiesel business, according to media reports.
Monday, September 30th 2019 - 08:09 UTC
Retailer Forever 21 files for bankruptcy, but will continue in Latin America

Fashion retailer Forever 21 Inc filed for Chapter 11 bankruptcy on Sunday as it joined a growing list of brick-and-mortar players who have succumbed to the onslaught of e-commerce.
Saturday, September 28th 2019 - 09:59 UTC
Opposition candidate wants to re-profile Argentine sovereign debt following on Uruguay's case in 2003

Argentine presidential candidate Alberto Fernandez indicated he would tackle the country's debt problem by adopting a strategy similar to that of Uruguay, which successfully extended its bond maturities in 2003.
Saturday, September 28th 2019 - 09:40 UTC
China opens the world's largest terminal airport which is to handle 170m pax by 2025

China's new US$ 11 billion mega airport has opened its doors, days before the country's 70th-anniversary celebrations. The Daxing International sea star-shaped airport in the capital Beijing was formally opened by President Xi Jinping and is the largest in the world.