Economy

• Tuesday, November 27th 2018 - 15:18 UTC

  Sharp fall in Brazil's Petrobras fuel but not so fast at pumps

  

  The average price of gasoline at Petrobras' refineries has dropped around 20% in November as of Tuesday but that decrease will not hit retail prices anytime soon. The state-run petroleum company made the announcement Monday, but gas stations were reluctant to follow suit, at least not at the same level.

• Tuesday, November 27th 2018 - 09:51 UTC

  Bad start for Bolsonaro: Temer signs 16% pay raise for Justices, which is a benchmark for other public sector

  

  Brazil’s exiting President Michel Temer signed into law a 16% pay raise for Supreme Court justices on Monday, disregarding a request from his President-elect Jair Bolsonaro that he veto the bill to avoid increasing next year’s budget deficit.

• Tuesday, November 27th 2018 - 09:27 UTC

  IMF praises Argentina's reforms program and anticipates rebound of activity in 2019

  

  The International Monetary Fund has completed its second review of Argentina, the fund said on Monday, paving the way for the country to receive US$7.6 billion under a US$ 56.3 billion financing deal.

• Tuesday, November 27th 2018 - 09:00 UTC

  Brazil Eyes US$ 30 Billion Offshore Oil Boom

  

  Over the past few years, Brazil has held several very successful oil auctions under production-sharing contracts in its pre-salt layer, attracting major oil companies to its prized offshore oil area.

• Tuesday, November 27th 2018 - 08:59 UTC

  US and Argentina ready to sign a two-way fresh beef deal

  

  Argentina is on the verge of signing a deal with the United States that would allow two-way trade of fresh beef for the first time in nearly two decades, the country's international trade secretary, Marisa Bircher, said. The agreement, expected to be signed within days, would simultaneously open beef imports to both countries, Bircher told Reuters in an interview.

• Tuesday, November 27th 2018 - 08:51 UTC

  Trump downplays a trade deal with China ahead of Saturday's meeting with Xi in Buenos Aires

  

  United States president Donald Trump and Chinese leader Xi Jinping will meet on Saturday in Argentina on the sidelines of a Group of 20 summit in Buenos Aires, a U.S. media outlet reported on Monday. The two leaders will meet a day after the United States, Mexico and Canada sign a new trilateral trade agreement, the online edition of Inside U.S. Trade said.

• Tuesday, November 27th 2018 - 08:47 UTC

  Trump not happy with GM's decision to cut 14.000 jobs and close several plants

  

  President Donald Trump does not like the news that General Motors would close several plants and cut more some 14,000 jobs. Speaking to reporters on the White House lawn on Monday afternoon, Trump said he spoke with CEO Mary Barra and told her he wasn't happy with the decision. “I told her I'm not happy about it,” Trump told reporters.

• Tuesday, November 27th 2018 - 08:44 UTC

  Italy confirms its high spending budget to “end poverty” and defies EU rules

  

  Italy's government says it will stick to its high-spending budget plans, setting up a potential stand-off with the European Union over its deficit. PM Giuseppe Conte, who held talks with deputies Matteo Salvini and Luigi Di Maio on Monday, said the objectives for 2019 had already been fixed.

• Tuesday, November 27th 2018 - 05:20 UTC

  Oil and chemistry bring big revenues to China

  

  The oil and chemical industries have meant a 712.1 billion yuan (around 103 billion US dollar) profit for the first three quarters of the year for China's treasure, which equals a 45.2 percent increase from the same period of 2017, according to official Ministry of Industry and Information Technology figures released Monday.

• Monday, November 26th 2018 - 21:39 UTC

  Dollar climbs in Argentina as Macri worries about football violence

  

  Buenos Aires was still shaking around noon Monday from the weekend's Libertadores Cup fiasco. President Mauricio Macri was publicly addressing the issue for the first time at a press conference escorted by Security Minister Patricia Bullrich and Justice Minister Germán Garavano. And with the spotlight there, the US dollar crept back up against the Argentine peso after a two-month nadir, closing at AR$ 39.9 per 1 US dollar at the end of the business day.