Economy

• Tuesday, March 12th 2019 - 09:02 UTC

  Brexit impact has moved some £900bn in financial firms' assets out of the UK

  

  A report into the impact of Brexit on banking and finance firms says some £900bn in financial firms' assets have been moved out of the UK. It adds this has cost £3bn-4bn and involves 5,000 expected staff moves or local hires, and that figure will rise.

• Tuesday, March 12th 2019 - 08:24 UTC

  Chinese tourists did 150 million outbound trips in 2018

  

  A total of 149.72 million outbound trips were made by Chinese tourists in 2018, up 14.7% from the previous year, the Ministry of Culture and Tourism announced, Trend reported citing Xinhua.

• Monday, March 11th 2019 - 18:30 UTC

  Falklands: First surveys of the Burdwood Bank completed for Marine Managed Areas Project

  

  By Ander M. de Lecea - Research scientist Drs Ander de Lecea and Marina Costa of SAERI recently completed their first surveys of the Burdwood Bank, kicking off the “Fine Scaling of the Marine Management Areas of the Falkland Islands” (MMA) project.

• Saturday, March 9th 2019 - 09:18 UTC

  Tuesday's Commons Brexit vote countdown: “no one knows what can happen”

  

  UK Prime Minister Theresa May has issued a plea for support as the showdown on her Brexit deal looms, warning the UK will be plunged into crisis if MPs reject the Withdrawal Agreement. In a stark message ahead of Tuesday’s Commons vote, the Prime Minister said “no-one knows” what will happen if her plan is defeated, with the possibility of Brexit being derailed completely.

• Saturday, March 9th 2019 - 09:01 UTC

  Job creation in the US remains but labor demand is softening

  

  US economy created the lowest number of jobs for a year-and-a-half in February, well below forecasts. Just 20,000 new jobs were created last month against expectations of a 180,000 increase, official figures show.

• Saturday, March 9th 2019 - 08:57 UTC

  World's largest sovereign fund, belonging to Norway, diversifying from oil

  

  Norway's US$ 1 trillion sovereign wealth fund is expected to sell some of its oil and gas holdings. The world's largest sovereign wealth fund owns US$ 37bn of shares in oil companies such as BP, Shell and France's Total.

• Friday, March 8th 2019 - 09:15 UTC

  Euro zone interest rates frozen for twelve months given overall slowdown

  

  Interest rates in the Euro zone will not rise until next year at the earliest, the European Central Bank has signaled amid evidence of a slowdown in the 19 countries using the single currency. The ECB also unveiled a round of fresh stimulus, offering banks cheap loans to try to help revive the economy.

• Friday, March 8th 2019 - 09:11 UTC

  Premier Oil reports 2018 profit as a result of record production

  

  UK-based oil and gas firm Premier Oil with interests in the Falkland Islands has announced its full-year results for 2018, reporting a post-tax profit hike to US$ 133.4m as a result of record production. These full-year results are a ‘return to profitability’ from 2017’s full-year loss of US$ 253.8m.

• Friday, March 8th 2019 - 09:05 UTC

  China's exports tumble 21% during February, largest decline since 2016

  

  China's exports tumbled the most in three years in February while imports fell for a third straight month, pointing to a further slowdown in the economy despite a spate of support measures.

• Friday, March 8th 2019 - 08:58 UTC

  Argentina's Peso hit a record low to the dollar weakening 4%

  

  Argentina’s struggling currency hit a record low against the dollar on Thursday, weakening over 4% to close at 42.5 pesos per dollar, a challenge for President Mauricio Macri as he looks to right the economy ahead of elections in October.