Economy

Friday, September 14th 2018 - 09:01 UTC
Turkey property sales, rental contracts and leasing must be made in the Lira currency

Turkey ruled on Thursday that property sales, rental contracts and leasing transactions must be made in lira from now on, halting the use of foreign currencies for such deals in a fresh step to support the ailing local currency. All business deals inside the country should be conducted in lira, President Tayyip Erdogan said, adding that nobody apart from exporters and importers should cross paths with foreign currency.
Friday, September 14th 2018 - 08:50 UTC
Maduro in China after more financial support to prop Venezuela's collapsing economy and oil output

Venezuelan President Nicolas Maduro is travelling to China to discuss economic agreements, as the crisis-struck OPEC nation seeks to convince its key Asian financier to disburse fresh loans.
Friday, September 14th 2018 - 08:42 UTC
US comes out strongly in support of Taipei in its influence policy dispute with Beijing

The State Department announced last week that it would temporarily recall U.S. ambassadors to the Dominican Republic, El Salvador and Panama for consultations in Washington. The meetings will focus on recent decisions by Latin American countries to no longer recognize Taiwan and ways the U.S. can “support strong. independent, democratic institutions and economies throughout Central America and the Caribbean”
Friday, September 14th 2018 - 08:37 UTC
BoE and European central bank keep rates unchanged; Turkey hikes 625 points to 24%

Stocks in Europe reversed earlier gains by Thursday's close to finish lower, as investors digested fresh news out of the central banking sphere. The pan-European STOXX 600 closed down 0.15%, with the majority of sectors falling into negative territory. The U.K.'s FTSE 100 slipped 0.43% by the close, while France's CAC 40 ended a touch lower, off 0.08%, and Germany's DAX rose 0.19%.
Friday, September 14th 2018 - 08:22 UTC
Governor Carney warns of economic chaos and property crash in a no-deal Brexit

Bank of England governor Mark Carney has delivered a “chilling” warning to Theresa May’s cabinet that a no-deal Brexit could lead to economic chaos, including a property crash that could see house prices fall by a third.
Thursday, September 13th 2018 - 10:39 UTC
IMF team in Buenos Aires for talks on the standby loan package

Officials from the International Monetary Fund are in Argentina as part of talks to strengthen and accelerate a crisis loan package, the global lender said Wednesday. The IMF and Buenos Aires agreed in June on a three-year, US$50 billion rescue lending programme but Argentina has since asked for a more rapid disbursement.
Thursday, September 13th 2018 - 10:34 UTC
Argentine labor unions and social groups protest austerity measures in Buenos Aires City

Labor unions and social groups blocked streets in downtown Buenos Aires on Wednesday, with more marches planned over the days ahead over austerity measures proposed by the government and backed by the International Monetary Fund. Protesters are angry about the belt-tightening policies, which are cutting services to low-income Argentines already walloped by inflation of 31 percent and climbing.
Thursday, September 13th 2018 - 10:10 UTC
Ciro Gomes pledges to de-concentrate Brazil's banks, and to help 63 million listed as delinquent debtors

Center-left populist presidential candidate Ciro Gomes vowed on Wednesday to reduce concentration in Brazil's banking sector if elected in October, warning that he would open the sector up to more foreign competition if necessary.
Thursday, September 13th 2018 - 08:36 UTC
Ciro Gomes pledges to de-concentrate Brazil's banks, and to help 63 million listed as delinquent debtors

Center-left populist presidential candidate Ciro Gomes vowed on Wednesday to reduce concentration in Brazil's banking sector if elected in October, warning that he would open the sector up to more foreign competition if necessary.
Thursday, September 13th 2018 - 06:20 UTC
“Extremely dangerous major” hurricane Florence advancing on the Carolinas

Hurricane Florence, one of the strongest storms to threaten the East Coast of the United States in decades, continued to swirl in the Atlantic on Wednesday night on a path that is taking it dangerously closer to the Carolinas. Meanwhile, another storm system in the Atlantic gained strength on Wednesday and was named subtropical Storm Joyce.