Economy

• Monday, February 25th 2019 - 09:09 UTC

  Ecuador reaches an agreement with IMF and will receive US$ 4.2 billion

  

  Ecuador and the International Monetary Fund (IMF) staff have reached an agreement on a set of policies to underpin a US$4.2 billion (435% of quota and SDR3.035 billion) arrangement under the IMF’s Extended Fund Facility (EFF). This arrangement, which is subject to IMF Executive Board approval, would provide support for the Ecuadorian government’s economic policies over the next three years.

• Monday, February 25th 2019 - 08:58 UTC

  US/China trade talks make “substantial progress”; Trump delays deadline for more tariffs

  

  The United States is delaying a planned increase of tariffs on more than US$200 billion in Chinese exports after “substantial progress” made in trade talks, President Donald Trump said on Sunday. Trump also said he planned to hold a summit with Chinese President Xi Jinping at his Florida estate Mar-a-Lago to ink a deal.

• Monday, February 25th 2019 - 08:27 UTC

  Apocalyptic scenario for Brazil if pensions' reform is not approved, warns Economy ministry

  

  Brazil’s Economy Ministry warned that the economy will slip into recession next year and official interest rates could more than double unless Congress approves measures to reduce the deficit in the country’s pension system.

• Saturday, February 23rd 2019 - 09:13 UTC

  China and US hail progress in trade talks: “a deal more likely than not” said Trump

  

  Chinese negotiators have agreed to extend their stay in Washington, as the US and China push to strike a trade deal. The decision was the latest sign that the two countries may be nearing an agreement, as they look for a way out of last year's punishing trade war.

• Saturday, February 23rd 2019 - 08:43 UTC

  Brexit should be delayed if a deal is not approved by Parliament, warn three ministers

  

  Brexit should be delayed if Parliament does not approve a deal in the coming days, three cabinet ministers have warned publicly for the first time. Ahead of crucial votes in the Commons, Greg Clark, Amber Rudd and David Gauke told the Daily Mail time was running out and that they hoped for a breakthrough in negotiations soon. If not, they said they are prepared to defy Theresa May and vote for a delay.

• Friday, February 22nd 2019 - 09:03 UTC

  “No deal Brexit” deepens gap in Westminster; PM May warned “dozens” of loyal Tory MPs could rebel

  

  Dozens of normally loyal Conservative MPs could rebel against the government in a bid to prevent a “no-deal” Brexit, Downing Street has been warned. Leaders of the Brexit Delivery Group of both Leavers and Remainers say MPs may back alternatives if Mrs Theresa May's reworked deal cannot command a Commons majority.

• Thursday, February 21st 2019 - 15:24 UTC

  Standard Chartered bank puts aside US$ 900m for potential fines in US and UK

  

  Standard Chartered is putting aside US$ 900 million for potential fines involving investigations in Britain and the US. The money will cover separate investigations into breaches of US sanctions and foreign exchange trading issues.

• Thursday, February 21st 2019 - 09:23 UTC

  Macri in Vietnam pledges closer relationship between the two countries

  

  Vietnam sees Argentina as its most important partner in Latin America and hopes to consolidate and strengthen its comprehensive partnership with the country, Prime Minister Nguyễn Xuân Phúc said on Wednesday.

• Thursday, February 21st 2019 - 09:18 UTC

  Swiss bank UBS fined €3.7bn in France for helping clients launder proceeds of tax fraud

  

  Swiss banking giant UBS has been fined €3.7bn (US$4.2bn) in a French tax fraud case. A court in Paris found that the bank had illegally helped French clients hide billions of Euros from French tax authorities between 2004 and 2012.

• Thursday, February 21st 2019 - 09:05 UTC

  Fed changes focus from interest rates to balancing reduction of the US$ 4 trillion it holds in assets

  

  The United States Federal Reserve on Wednesday signalled they will soon lay out a plan to stop letting go of US$4 trillion in bonds and other assets, but policymakers are still debating how long their newly adopted “patient” stance on U.S. rates policy will last.