Economy

Wednesday, October 10th 2018 - 07:12 UTC
“Clouds on the horizon” warns IMF in its world economic outlook

The International Monetary Fund has cut its forecast for global growth as trade tensions intensify and currency and other woes impact emerging economies. The global lender projects that the world economy will expand by 3.7% this year and next, 0.2 percentage point lower than its previous forecast six months ago.
Tuesday, October 9th 2018 - 21:29 UTC
IMF foresees 2.6% GDP drop for Argentina this year - inflation 40%

Argentina's GDP will fall 2.6% and inflation will reach 40% this year, according to the International Monetary Fund's Global Perspectives Report released Monday at the beginning of the body's annual Assembly in Bali, Indonesia.
Tuesday, October 9th 2018 - 09:02 UTC
Japan would welcome UK to the TPP with open arms, says PM Shinzo Abe

Britain would be welcomed into the Trans-Pacific Partnership trade pact “with open arms” by Japan, the country’s prime minister has said. Shinzo Abe also urged the use of “wisdom” during Brexit talks in order to avoid a no-deal withdrawal from the EU.
Tuesday, October 9th 2018 - 08:48 UTC
UK waters down Brexit deal expectations: “big issues” remain to be resolved

Downing Street has played down expectations of agreement on Britain’s withdrawal from the EU at a crunch summit next week, warning that “big issues” remain to be resolved. Theresa May’s official spokesman said further concessions were needed from the EU side, and warned that no withdrawal agreement could be sealed without a “precise” declaration about the post-Brexit relationship.
Tuesday, October 9th 2018 - 08:20 UTC
Nobel in Economics for long term thinking on climate and technological innovation

William Nordhaus of Yale University and Paul M Romer from New York University’s Stern School of Business have been awarded the 2018 Nobel Prize in Economics for including long-term thinking on climate issues and technological innovation in economic research.
Tuesday, October 9th 2018 - 08:20 UTC
China injects more liquidity to lower financing costs and prop the economy

China's central bank announced a steep cut in the level of cash that banks must hold as reserves, stepping up moves to lower financing costs and spur growth amid concerns over the economic drag from an escalating trade dispute with the United States.
Monday, October 8th 2018 - 13:03 UTC
Evo opens strategic plant in lithium industry process

Bolivian President Evo Morales Sunday opened a potassium chloride industrial plant in Uyuni, department of Potosí, which is expected to have a yearly output of 350 thousand tons and is a part of the country's strategy for the industrialization of lithium.
Monday, October 8th 2018 - 12:56 UTC
Astori surprised by Fitch ratings, confident Uruguay will bounce back

Uruguay's Economy Minister Danilo Astori Sunday said he was surprised at last week's decision by the Fitch agency to maintain Uruguay's investment grade as it lowered the outlook down to BBB- and pointed out that this report “contrasts openly with those of other risk rating agencies and with the market itself.”
Monday, October 8th 2018 - 08:39 UTC
Canada chairs meeting to reform WTO, but has not invited US or China

Canada has not invited the United States or China to a high-level meeting on reforming the World Trade Organization (WTO). The country will host a “small group of like-minded” trade ministers in Ottawa in late October to discuss the global trade body. Officials say countries like the US and China will be included at a later date in the reforms discussion process.
Sunday, October 7th 2018 - 05:24 UTC
Bolsonaro clearly ahead for Sunday's vote in Brazil, leading with 40% intention

Pollster Datafolha released on Saturday evening its latest vote intention survey for Brazil's presidential election on Sunday 7 October, and it shows extreme right candidate Jair Bolsonaro leading with 40%, followed by Fernando Haddad from the Workers Party with 25% and Ciro Gomes, another left wing hopeful with 15%.