Economy

Monday, August 19th 2019 - 10:46 UTC
China trusts Argentina and acquires 50% of lithium brine project in Jujuy

China's Ganfeng Lithium , said on Sunday it had completed a US$ 160 million deal to raise its stake in the Cauchari-Olaroz lithium brine project in the northern province of Jujuy, Argentina to 50%.
Monday, August 19th 2019 - 10:43 UTC
Beijing wants the full integration of Hong Kong and Macau to Shenzhen industrial hub

China’s State Council has called for greater development of the southern city of Shenzhen and the integration of its culture and economy with neighboring Hong Kong and Macau. The directive comes as anti-government protests in Hong Kong threaten the status of the Asian financial hub.
Monday, August 19th 2019 - 09:25 UTC
Peruvian peasants protest against Chinese oil company and set on fire offices

A building in a northern Peruvian town was set on fire on Friday in a protest against China National Petroleum Corp that devolved into clashes between police and demonstrators who want the company to make pledges to help the local community, an industry source said.
Monday, August 19th 2019 - 08:58 UTC
Fernandez wants to renegotiate IMF loan terms, in current conditions Argentina can't repay its debts

Opposition candidate, Alberto Fernandez, said that Argentina would struggle under present conditions to repay a loan to the International Monetary Fund and he would seek to renegotiate the repayment terms, according to an interview published on Sunday by the newspaper Clarin.
Sunday, August 18th 2019 - 10:09 UTC
Macri reshuffles cabinet: Argentina has a new Economy minister

Argentine Economy Minister Nicolas Dujovne resigned on Saturday, capping a week of market chaos that followed President Mauricio Macri’s stunning loss in a primary vote. Apparently, his resignation was on the table since last Tuesday.
Saturday, August 17th 2019 - 09:13 UTC
Maduro and Guaidó fight for the Venezuelan prized Citgo refineries in the US

The government of President Nicolas Maduro on Thursday nullified the newly named board of Venezuela’s prized Citgo refineries in the U.S. amid a political battle for control of the country, saying opposition leaders had no right to appoint them.
Saturday, August 17th 2019 - 08:53 UTC
Fitch downgrades Argentina's long term debt, fearing the risk of default

Argentina's Peso ended a tumultuous week on Friday having shed 20% in its value against the dollar as Fitch cut the South American country's long-term debt by two notches, citing increased uncertainty and a rising risk of default.
Saturday, August 17th 2019 - 07:00 UTC
Trump reveals “productive” trade talks with Beijing and anticipates a “fairly short war”

US President Donald Trump said on Thursday that U.S. and Chinese negotiators were holding “productive” trade talks and expected them to meet in September despite U.S. tariffs on over US$125 billion worth of Chinese imports taking effect Sept 1.
Saturday, August 17th 2019 - 06:47 UTC
Bolsonaro administration has privatized some US$ 20bn of assets

Brazil has privatized nearly US$ 20bn of assets and investments since the election of right-wing president Jair Bolsonaro, according to a government minister. Secretary of state for privatization, divestment and markets Salim Mattar announced that the government’s sweeping program of privatization was going as planned.
Friday, August 16th 2019 - 12:55 UTC
Brazil's central bank will sell dollars in the spot currency market; first time in a decade

Brazil’s central bank announced it would sell dollars outright in the spot currency market this month for the first time in over a decade, changing its regular market operations in response to rising demand for liquidity.