Economy

• Wednesday, April 10th 2019 - 09:31 UTC

  Brazil's scientists furious with budget cuts limiting research and “expelling the brightest from the country”

  

  Brazil’s government has triggered fierce criticism from scientists after announcing plans to tackle economic stagnation by implementing a government-wide budget freeze that could see research funding cut by up to 42%.

• Wednesday, April 10th 2019 - 09:27 UTC

  Saudi's oil company Aramco plans to borrow US$ 12bn in its debut bond sale

  

  Saudi Aramco is planning to borrow US$12 billion in its debut bond sale as the oil giant pulls off one of the most oversubscribed debt deals of all time. Investor orders for the dollar bonds reached an excess of US$100 billion at the peak on Tuesday, according to market experts

• Wednesday, April 10th 2019 - 09:07 UTC

  China pledges to further open its economy in strategic talks with the EU

  

  China on Tuesday said it would push further to open its economy and deepen ties with the EU, which has grown increasingly wary of Beijing's influence in Europe. EU Council president Donald Tusk hailed Beijing's new commitments at an EU-China summit in Brussels as a “breakthrough” with both sides committed to globalization and pursuing international rules.

• Wednesday, April 10th 2019 - 08:53 UTC

  New president says World Bank urgent challenges are addressing poverty and climate change

  

  Newly-installed World Bank President David Malpass spent his first day at the global lender on Tuesday hammering home the message that the most urgent issue facing the bank is addressing global poverty. President Donald Trump's controversial pick to lead the bank appeared eager to distance himself from his past attacks on the institution and stressed the support he has received from developing nations and from staff.

• Wednesday, April 10th 2019 - 08:38 UTC

  Mrs. May pleads support from Berlin and Paris for a Brexit extension deadline

  

  British Prime Minister Theresa May toured Berlin and Paris on Tuesday to plead for an extension to the deadline for Brexit, which looked increasingly likely to be approved by EU leaders at a crunch meeting in Brussels.

• Tuesday, April 9th 2019 - 09:59 UTC

  Argentina's Peso takes a rest after a hectic week but the country risk shoots to its highest this year

  

  Latin American stocks were flat on Monday, partly subdued by delays in important pension reform in Brazil, while currencies in the region rose against a weak dollar but Argentina's peso hovered around record-low levels on political uncertainty and the highest country risk so far this year.

• Tuesday, April 9th 2019 - 07:41 UTC

  Gibraltar prepares for European elections because of Brexit delays

  

  The Gibraltar Parliament unanimously passed legislation to enable Gibraltar to vote in the European election in May should this become necessary because of delays to Brexit. The parliament approved an amendment to primary legislation to ensure the electoral register for the European Union election is ready despite the short window of time available.

• Tuesday, April 9th 2019 - 07:29 UTC

  Venezuela pledges to fulfill its commitments to Cuba despite US sanctions

  

  Venezuela will “fulfill its commitments” to Cuba despite United States sanctions targeting oil shipments from Maracaibo to its ideological ally, Foreign Minister Jorge Arreaza said on Monday.

• Tuesday, April 9th 2019 - 07:10 UTC

  Record money transfers to developing countries in 2018, but transfer costs too high claims World Bank

  

  Money transfers to poor and developing countries hit a fresh record in 2018 and should become their largest source of external financing this year, the World Bank said on Monday. But many banks and money transfer operators charged too much, cutting into the gains of migration, the bank said in a statement.

• Tuesday, April 9th 2019 - 06:54 UTC

  Standard Chartered could pay some US$ 1 billion to resolve an investigation into Iran US sanctions violations

  

  London based Standard Chartered is expected to pay slightly more than US$1 billion to resolve a nearly five-year-old investigation of potential U.S. sanctions violations tied to its banking for Iran-controlled entities in Dubai, as well as a related U.K. probe, according to a report from Reuters.