Economy

Tuesday, November 13th 2018 - 10:42 UTC
Bolsonaro's economic team incorporates another Chicago orthodox liberal

Joaquim Levy, managing director and World Bank chief financial officer, has been tapped to be the next president of Brazil’s national economic and social development bank BNDES, news advanced to a column in daily O Estado de S. Paulo published on Sunday.
Tuesday, November 13th 2018 - 07:47 UTC
UK and EU negotiators must reach an agreement by Wednesday evening

UK ministers have been told “judgment day is coming” over Brexit as the UK and EU strive for a deal within 48 hours. Officials are trying to hammer out an agreement on the terms of the UK's exit by Wednesday to enable EU leaders to agree it by the end of the month.
Tuesday, November 13th 2018 - 07:08 UTC
The pound falls to US$ 1.286 in Monday trading on Brexit uncertainty

The pound has sunk in volatile trading after reports that a Brexit deal was near were downplayed by UK officials. Downing Street said “substantial issues” still need to be resolved as negotiators try to secure an agreement over the UK's exit from the EU.
Monday, November 12th 2018 - 18:13 UTC
Oil producing countries agree on need to cut down crude output due to oversupply

They call it “production adjustments,” but in reality most major oil extracting countries agreed Sunday new strategies regarding crude output were needed in light of the surplus accrued over the past few months.
Monday, November 12th 2018 - 13:27 UTC
Argentina's industrial activity in September down 11.5% in the last twelve months

Argentine industrial activity plunged 11.5% year-on-year in September – the biggest drop in 16 years. The INDEC national statistics bureau said that manufacturing witnessed a fifth consecutive month of decline, following drops of 1.2% in May, 8.1% in June, 5.7% in July and 5.6% in August. It’s the biggest contraction since July 2002.
Monday, November 12th 2018 - 07:11 UTC
FAO Food Price Index dipped in October pushed by dairy, meat and vegetable oils

International food commodity prices dipped in October, as falling dairy, meat and vegetable oils prices more than offset a surge in sugar prices, the United Nations said. The FAO Food Price Index, a measure of the monthly change in international prices of a basket of food commodities, averaged 163.5 points in October, down 0.9 percent from September and 7.4 percent below its level a year earlier.
Monday, November 12th 2018 - 01:48 UTC
Axion cuts down fuel price in Argentina

Fuel retailer Axion cut down its prices by 3.2% in Argentina, in line with declines of both the US dollar exchange rate and the international oil barrell, it was reported Saturday. Other companies are expected to follow suit shortly.
Saturday, November 10th 2018 - 09:16 UTC
Argentina's central bank almost doubles currency swap with China

Argentina’s central bank said it would nearly double its currency swap deal with China, bringing the total to 130 billion Yuan (US$ 18.7 billion), as Beijing looks to expand its influence in the recession-struck country. Central Bank President Guido Sandleris, who was in China finalizing the agreement, said that the deal for 70 billion Yuan would be expanded by 60 billion Yuan, according to a bank spokesman.
Saturday, November 10th 2018 - 06:05 UTC
UK's economy best third quarter in two years: warm weather and the World Cup

A spike in consumer spending driven by warm weather and England's surprise run to the semifinals of the soccer World Cup helped the British economy post its best growth in nearly two years during the third quarter, official figures showed on Friday.
Friday, November 9th 2018 - 18:40 UTC
“Bolivianisation” of economy brings “shortage” of foreign currency - big business for black market

Evo Morales' government pushing to expand the “bolivianisation” of the country's economy has resulted in a “shortage” of foreign currency - particularly of US dollars - and to a subsequent growth of the exchange black market, it as repirted.