Economy

Thursday, November 15th 2018 - 08:42 UTC
Argentina's Senate approves austerity budget agreed with IMF

After 13 hours of debate, the Argentine Senate approved the draft Public Administration Budget for 2019 early on Thursday. The project, presented by Mauricio Macri’s government, went ahead with 45 votes in favor, 24 against and just one abstention.
Wednesday, November 14th 2018 - 10:29 UTC
US and China trade talks ahead of Xi and Trump's meeting in Buenos Aires

United States and Chinese negotiators have revived trade talks in the hopes of reaching a draft agreement before President Donald Trump and Chinese leader Xi Jinping meet face-to-face on the sidelines of the G20 meeting in Argentina.
Wednesday, November 14th 2018 - 08:54 UTC
UK/EU Brexit announce “technical” breakthrough, but now it faces the political hurdle

UK and EU officials have agreed the draft text of a Brexit agreement after months of negotiations. A cabinet source told the BBC that the document has been agreed at a technical level by officials from both sides after intensive discussions this week. A special cabinet meeting will be held at 14:00 GMT on Wednesday as Theresa May seeks ministers' backing.
Wednesday, November 14th 2018 - 08:50 UTC
Italy ignores EC deadline and keeps to its high spending budget

The Italian government has defied the European Commission by sticking to its big-spending budget plan. Deputy Prime Minister Matteo Salvini said a deficit target of 2.4% and a growth forecast of 1.5% were unchanged.
Wednesday, November 14th 2018 - 08:08 UTC
Weights and measures conference to re-calibrate a kilogram

Looking like a museum piece, a replica of the prototype to determine the exact unit of measurement for a kilogram was displayed under glass at the National Institute of Advanced Industrial Science and Technology in Tsukuba, Japan.
Wednesday, November 14th 2018 - 07:46 UTC
Japan's central bank owns more assets than the country's whole economy

Japan's central bank has become the first among Group of Seven nations to own assets collectively worth more than the country's entire economy, following a half-decade spending spree designed to accelerate weak price growth.
Tuesday, November 13th 2018 - 11:18 UTC
S&P downgrades Argentina's long term sovereign debt from “B+” to “B”

Standard & Poor's on Monday downgraded Argentina's sovereign long term credit rating from “B+” to “B” and reviewed the country's debt prospects to “stable”, following on the “negative” review from last August.
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.