Economy

• Saturday, December 29th 2018 - 21:16 UTC

  Hemp becomes federally legal in US; estimates of a US$ 20bn industry by 2022

  

  After years of prohibition, industrial hemp is now federally legal in the United States. President Trump signed off on the 2018 Farm Bill which redefines hemp as an agricultural commodity, and more importantly, removes it from the Controlled Substances Act.

• Saturday, December 29th 2018 - 07:44 UTC

  Petrobras announces hedging program for diesel prices

  

  Brazil’s Petrobras has approved a hedging program for diesel prices in a bid to boost pricing flexibility, the state-run oil firm said in a filing on Friday. While Petrobras did not detail how its diesel hedging program would be structured, it said the move was similar to a measure taken in September, when the company introduced a hedging program for gasoline.

• Saturday, December 29th 2018 - 07:22 UTC

  Argentina's energy secretary steps down following leaks on the increase of power rates

  

  Argentina's energy secretary resigned on Friday, the government said in a statement, less than 24 hours after news leaked that the administration of President Mauricio Macri plans to increase electricity prices by an average 35% next year.

• Friday, December 28th 2018 - 09:20 UTC

  Argentina's economic activity in October falls 4%, year-on-year

  

  Economic activity in Argentina fell 4.0% in October versus the same month last year, the government said on Thursday, marking the seventh straight month of declines as the country grapples with recession and high inflation.

• Friday, December 28th 2018 - 09:05 UTC

  Buenos Aires public transport rates up 40% in three months, beginning January

  

  The Argentine government announced on Thursday new increases in public transport rates, some 40% on average that will apply from next January to travel by bus, train and metro.

• Friday, December 28th 2018 - 08:52 UTC

  MPs urging a “more meaningful role” in ratifying deals, beginning with Brexit

  

  Parliament must be given a veto over any trade deals the UK signs after Brexit, a committee of MPs has urged. Ministers hope to begin negotiating deals with key partners once the UK leaves the EU in March and start implementing them from 2021 onwards.

• Friday, December 28th 2018 - 08:44 UTC

  Pakistan to resume negotiations with Mercosur for a free trade agreement

  

  Pakistan has officially requested to resume negotiations with Mercosur for a free trade agreement, with discussions expected to begin in early 2019. Islamabad believes it is an opportunity to bridge the trade deficit with countries of the South American bloc.

• Thursday, December 27th 2018 - 21:59 UTC

  Peru's GDP forecast to go up in 2019 thanks to private investment, domestic consumption

  

  Peru's gross domestic product (GDP) is set to expand 3.7% this year and the next, boosted by the good performance of private investment and consumption, according to The Economist.

• Thursday, December 27th 2018 - 13:00 UTC

  Argentine gas stations file class action against VISA to bring down fees

  

  The Argentine Federation of Expenders of Naphtha of the Interior (Faeni), Wednesday filed a class action suit in the Buenos Aires courts against Visa Argentina to bring down the abusive fees and payment terms that the latter imposes unilaterally.

• Thursday, December 27th 2018 - 12:31 UTC

  Argentine Catholic University study shows 1.5 million children in food crisis

  

  Around 1.5 million children are not fed properly amidst Argentina's current crisis, according to the Argentine Catholic University's (UCA) latest study on the matter, which was released Wednesday. The new record means an increase of around 456,000 children from the previous research.