Economy

Thursday, October 11th 2018 - 16:31 UTC
Beef trade falls in Argentina due to crisis

Argentina's beef market fell 16.7% in September due to the country's crisis amid “worsening macroeconomic conditions,” according to the Chamber of Industry and Meat Trade (CICCRA).
Thursday, October 11th 2018 - 09:08 UTC
US markets suffer their sharpest one-day fall: fears of interest rates, inflation and trade tensions

United States share markets suffered on Wednesday their sharpest one-day falls in months, as fears about rising interest rates, inflation, trade tensions intensified. The tech-heavy Nasdaq led the declines, sliding 4%, or 315.9 points, to 7,422. The Dow Jones and S&P 500 also fell by more than 3%, with losses accelerating towards the end of the day. Netflix fell 8%, while Amazon slid 6%.
Thursday, October 11th 2018 - 08:44 UTC
Argentina attracting more tourists while less Argentines travelling overseas

The number of incoming tourists to Argentina is increasing month after month since the drastic devaluation of the local currency, while outgoing tourism has dropped significantly. According to the latest release from the country's stats office, Indec, 224.000 tourists arrived in Argentina during August, 7.4% more than a year ago, while residents travelling overseas dropped 11.9%, to 335.300.
Thursday, October 11th 2018 - 08:31 UTC
World Bank unveils “Human Capital Index”: Singapore, South Korea, Japan and Hong Kong top of the list

The World Bank Group unveiled a new system on Thursday to rank countries based on their success in developing human capital, an effort to prod governments to invest more effectively in education and healthcare.
Wednesday, October 10th 2018 - 07:12 UTC
“Clouds on the horizon” warns IMF in its world economic outlook

The International Monetary Fund has cut its forecast for global growth as trade tensions intensify and currency and other woes impact emerging economies. The global lender projects that the world economy will expand by 3.7% this year and next, 0.2 percentage point lower than its previous forecast six months ago.
Tuesday, October 9th 2018 - 21:29 UTC
IMF foresees 2.6% GDP drop for Argentina this year - inflation 40%

Argentina's GDP will fall 2.6% and inflation will reach 40% this year, according to the International Monetary Fund's Global Perspectives Report released Monday at the beginning of the body's annual Assembly in Bali, Indonesia.
Tuesday, October 9th 2018 - 09:02 UTC
Japan would welcome UK to the TPP with open arms, says PM Shinzo Abe

Britain would be welcomed into the Trans-Pacific Partnership trade pact “with open arms” by Japan, the country’s prime minister has said. Shinzo Abe also urged the use of “wisdom” during Brexit talks in order to avoid a no-deal withdrawal from the EU.
Tuesday, October 9th 2018 - 08:48 UTC
UK waters down Brexit deal expectations: “big issues” remain to be resolved

Downing Street has played down expectations of agreement on Britain’s withdrawal from the EU at a crunch summit next week, warning that “big issues” remain to be resolved. Theresa May’s official spokesman said further concessions were needed from the EU side, and warned that no withdrawal agreement could be sealed without a “precise” declaration about the post-Brexit relationship.
Tuesday, October 9th 2018 - 08:20 UTC
Nobel in Economics for long term thinking on climate and technological innovation

William Nordhaus of Yale University and Paul M Romer from New York University’s Stern School of Business have been awarded the 2018 Nobel Prize in Economics for including long-term thinking on climate issues and technological innovation in economic research.
Tuesday, October 9th 2018 - 08:20 UTC
China injects more liquidity to lower financing costs and prop the economy

China's central bank announced a steep cut in the level of cash that banks must hold as reserves, stepping up moves to lower financing costs and spur growth amid concerns over the economic drag from an escalating trade dispute with the United States.