Economy

Friday, April 5th 2019 - 17:45 UTC
US Treasury official David Malpass elected as World Bank’s president

David Malpass has been chosen as the president of the World Bank Group (WBG) on Friday after being unanimously elected by the executive board of the organization with no other candidates.
Friday, April 5th 2019 - 09:37 UTC
Brazilian markets react positively on hopes of progress on pension reform

Most Latin American stock markets and currencies rose on Thursday, with assets in Brazil gaining on hopes of smooth progress on pension reform. Brazilian President Jair Bolsonaro met fellow politicians in a bid to build support to pass his government's proposal to reform the country's bloated pension system, seen by investors as crucial to trim Brazil's wide fiscal deficit.
Friday, April 5th 2019 - 09:33 UTC
Brazil automakers confident of domestic market despite collapse of exports to Argentina

Automobile production in Brazil fell 0.6% in the first quarter of 2019 compared to the same period last year, the national automakers’ association said on Thursday, as an economic crisis in Argentina continued to weigh on output.
Friday, April 5th 2019 - 09:04 UTC
EC proposal for a 12-month “flexible” extension to the Brexit date

European Council President Donald Tusk is proposing to offer the UK a 12-month “flexible” extension to its Brexit date, according to a senior EU source. His plan would allow the UK to leave sooner if Parliament ratifies a deal, but it would need to be agreed by EU leaders at a summit next week.
Friday, April 5th 2019 - 08:52 UTC
Ex Republican presidential hopeful, Trump’s candidate for the Fed

United States President Donald Trump has confirmed he recommended former Republican presidential hopeful Herman Cain for a seat on the Federal Reserve Board. Mr Trump told reporters at the White House Mr Cain is undergoing background checks to join America's central bank.
Friday, April 5th 2019 - 08:43 UTC
Merkel in Dublin declares Germany is “a strong and unwavering ally of Ireland”

German Chancellor Angela Merkel has said Germany will stand with Ireland “every step of the way” over Brexit. She was speaking following talks in Dublin with the Taoiseach (Irish prime minister) about the current deadlock.
Thursday, April 4th 2019 - 09:52 UTC
UK Police has 10.000 officers ready for a possible no-deal Brexit and “inflamed consequences”

Politicians and campaigners should take care not to “inflame” tensions in the UK caused by Brexit, a senior police chief has warned. Assistant Commissioner Martin Hewitt said people should think carefully to avoid inciting others to violence. The warning follows increased concern about intimidation of MPs.
Thursday, April 4th 2019 - 09:46 UTC
Argentine soybean farmers sign delayed-price contracts hoping for a US/China trade deal and higher prices

Soybean growers in Argentina are playing a waiting game, wagering on better prices ahead as the U.S. and China inch toward a trade deal and as nation’s currency keeps depreciating. Farmers on the Pampas arable belt have signed delayed-price contracts for almost three quarters of the 12.2 million metric tons they’ve sold to crushers and exporters so far, according to government data. That compares with 60% at the same stage last year.
Thursday, April 4th 2019 - 09:43 UTC
Argentina requests waiver ahead of IMF's third review to further release funds

Argentina has requested a waiver from the International Monetary Fund as some data would not be available in time for the fund's third review this week of US$ 56.3 billion in standby financing agreed last year, a Treasury spokesman said on Wednesday.
Thursday, April 4th 2019 - 09:41 UTC
Petrobras finally shows positive results and with strong growth prospects

Petrobras has finally announced a positive annual result, five years after the Lava Jato corruption probe left the Brazilian state-controlled company with spiraling debts. The firm closed the year with a US$ 25.8bn net profit, the highest figure in seven years, and a total of R$20.2bn (US$ 5.27bn) in asset sales.