Economy

• Saturday, June 8th 2019 - 07:42 UTC

  Putin and Xi call for a rethinking of the US dollar role in global trade

  

  China's Xi Jinping and Russia's Vladimir Putin hit back at US global economic dominance on Friday as they took the stage together at Russia's showcase business forum.

• Friday, June 7th 2019 - 09:59 UTC

  Bolsonaro and Macri announce the EU/Mercosur trade deal is “imminent”

  

  The presidents of Argentina and Brazil said on Thursday that an agreement is imminent on a free trade agreement between the European Union and Mercosur. Brazil's President Jair Bolsonaro and Argentina's Mauricio Macri expressed confidence that the deal would soon be signed as they met in Buenos Aires for talks.

• Friday, June 7th 2019 - 09:43 UTC

  Argentine Justices uphold Glacier Law: setback for one of world's biggest gold miners

  

  The Argentine Supreme Court ruled against a legal claim by mining companies Barrick Gold Corp and Minera Argentina Gold arguing that Argentina's Glacier Law was unconstitutional. The decision was praised by environmentalists and marked a setback for one of the world's biggest gold miners.

• Thursday, June 6th 2019 - 09:59 UTC

  Lagarde admits underestimating the Argentine economic situation

  

  The International Monetary Fund, IMF, admitted on Wednesday that it had underestimated the “incredibly complicated situation” of the Argentine economy and also that taming inflation had taken much longer than originally expected.

• Thursday, June 6th 2019 - 09:58 UTC

  Mercosur's Common External Tax in the agenda Bolsonaro will discuss with Macri in Buenos Aires

  

  Brazil and Argentina have started discussing a reduction in the common external tariff (TEC) of the Mercosur trade block, sources in both governments revealed on Wednesday, as their market-friendly presidents look to boost economic growth.

• Thursday, June 6th 2019 - 09:57 UTC

  Falklands' MPA catering and logistics service contract extended three years

  

  Sodexo has extended its contracts with the Ministry of Defense (MoD) to provide a range of support services to the UK’s Armed Forces in Cyprus and the Falkland Islands for a further three years.

• Thursday, June 6th 2019 - 09:56 UTC

  Banks making too much money, “more competition is needed” blasts Brazilian economy minister

  

  Brazilian banks are chalking up “excessive” profits, Economy Minister Paulo Guedes said, adding that the country needs an injection of competition to end what he called the cartels that dominate many of its major sectors.

• Thursday, June 6th 2019 - 09:55 UTC

  Trump administration clamps down on US tourist visits to Cuba: cruise industry in shock

  

  The Trump administration clamped down on US tourist visits to Cuba on Tuesday, aiming to cut the flow of dollars to a country that Washington accuses of helping prop up Venezuelan President Nicolas Maduro.

• Thursday, June 6th 2019 - 08:41 UTC

  Argentine construction industry contracts 7.5% in April and 10.3% in four months

  

  The construction industry in Argentina contracted 7.5% last April, the eighth consecutive month, with an overall drop of 10.3% in the first four months of the year. According to the country's stats office Indec, the Indicator of Construction Activity, during April fell 0.3% from March.

• Thursday, June 6th 2019 - 08:37 UTC

  Argentina's industrial output down 8.8%; car production falls 35.3% in twelve months

  

  Argentina’s industrial output fell 8.8% in April compared with the same month a year ago, official data showed on Wednesday, marking 12 straight months of production losses as the economy struggles with recession and rapidly-rising consumer prices.