Economy

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.
Friday, November 9th 2018 - 09:58 UTC
Argentina expects a record harvest of 140 million tons of grain and oilseeds

Argentina is expected to harvest some 140 million tons of grain in the 2018/2019 season, the largest crop in the country's history, according to Argentina's Agriculture Secretariat.
Friday, November 9th 2018 - 09:09 UTC
Bolsonaro vows to investigate Americas largest development bank, Brazil's BNDES

Right-wing President-elect Jair Bolsonaro vowed in a tweet on Thursday to investigate Brazil’s state-run national development bank, BNDES, for corruption by opening its “black box” of secret transactions. BNDES is the largest development lender in the Americas with a loan book larger than the World Bank’s.
Friday, November 9th 2018 - 08:45 UTC
Federal Reserve leaves rate unchanged but December hike is expected

The Federal Reserve has left its key policy rate unchanged but signaled that it plans to keep responding to the strong U.S. economy with more interest rate hikes. The next rate increase is expected in December.