Economy

• Wednesday, October 17th 2018 - 09:16 UTC

  Argentine industrial activity contracts 4.1% in August year-to-year

  

  Industrial activity in Argentina dropped 4.1% in August compared to a year ago, completing a 0.8% contraction so far this year, according to a survey by the country's Industrial Union, UIA. However compared to last July industrial production was up 0.7%.

• Wednesday, October 17th 2018 - 08:52 UTC

  Another headache for the EU: Italy and its populist budget

  

  Italy's government on Tuesday pushed the country closer to a showdown with the European Union after submitting its latest budget for review. The budget proposes increases both Italy's overall government debt and its deficit in the short run pushing the deficit as high as 2.4% of GDP over the coming years. This means Italy will fall foul of a previously mandated maximum deficit level of 0.8% of GDP.

• Wednesday, October 17th 2018 - 08:34 UTC

  Ireland is getting Brexit-ready and has earmarked funds in next year's budget

  

  Ireland is stepping up preparations for physical infrastructure at ports and airports after Brexit, premier Leo Varadkar said. Irish ministers held detailed discussions in Dublin on Tuesday surrounding the hiring of customs officers and veterinary inspectors as well as the upgrading of IT systems.

• Wednesday, October 17th 2018 - 08:24 UTC

  Jamaican economist will oversee Argentina's compliance of IMF accord

  

  The International Monetary Fund has announced that Jamaican economist Trevor Alleyne will be the institution's representative in Argentina, after confirming it had decided to reopen an office in Buenos Aires, six years after leaving. The decision comes after Buenos Aires reached a deal with the IMF on the money supply, interest rates and an exchange rate framework.

• Wednesday, October 17th 2018 - 01:24 UTC

  US dollar falls for seventh time in a row against Argentine peso, but inflation still among five worst

  

  The US dollar fell Tuesday yet again, making it the seventh straight time the peso manages to recover due to the government's “cash-drought” measures. But that did not change the fact that According to the International Monetary Fund’s latest report, Argentina will have the fifth highest inflation rate in the world, which is expected to reach 41.5 by the end of the year..

• Tuesday, October 16th 2018 - 19:13 UTC

  Crash course for first-time passengers to overcome aviophobia helps AR increase sales

  

  The “Animate a volar” programme, offered at no cost by Aerolineas Argentinas to people who suffer from aviophobia (flight fear) is one of the keys to the company's increase in ticket sales in the first three quarters of 2018, it was announced.

• Tuesday, October 16th 2018 - 17:56 UTC

  Latam to start serving Tel Aviv nonstop from Sao Paulo

  

  A new Latam airlines flight originating in Santiago with a stop in Sao Paulo and nonstop to Tel Aviv thereafter has been announced to start operating December 13.

• Tuesday, October 16th 2018 - 08:38 UTC

  Paulo Guedes the ultra-liberal economic advisor of an ultra-populist nationalist

  

  After getting out of its most severe recession in history in 2017, Brazil remains in a state of economic malaise, notching up a mere 1% of growth last year, with public debt forecast to snowball from 77% of GDP to 140% by 2030, according to the World Bank.

• Tuesday, October 16th 2018 - 08:23 UTC

  US warns Central America to be cautious about relations with Beijing

  

  US Vice President Mike Pence warned Central American nations to be cautious when building relations with China, which has been increasingly active in the region. Amid mounting tensions between the United States and China, Pence brought up ties with Beijing as he met in Washington with leaders of El Salvador, Guatemala and Honduras as well as Mexico's foreign secretary.

• Tuesday, October 16th 2018 - 06:52 UTC

  Paul Allen, co-founder of Microsoft has died aged 65

  

  Paul Allen, who co-founded Microsoft, has died aged 65 from complications of non-Hodgkin's lymphoma. He had revealed the disease's return only two weeks ago, after previously being treated for it in 2009. Allen had said he and his doctors were “optimistic” about treatment.