Economy

• Wednesday, September 26th 2018 - 08:37 UTC

  Pope says he will appoint Chinese bishops, following on the Beijing/Vatican accord

  

  Pope Francis on Tuesday defended a landmark deal between the Vatican and China on the appointment of bishops, saying he, and not the Beijing government, will have the final say on who is named. In his first public comments on the deal signed in Beijing on Saturday, he told reporters on the plane returning from a trip to the Baltics that while he realizes not everyone will understand the logic behind the agreement, he was confident in the “great faith” of Chinese Catholics.

• Tuesday, September 25th 2018 - 21:35 UTC

  Who is Guido Sandleris, Argentina's Central Bank president after the surprise resignation of Caputo

  

  The resignation of Luis Caputo to the Presidency of the Central Bank of Argentina (BCRA), which has been reflected with surprise by the international media, occurs amid the trip of the Argentine President, Mauricio Macri, to New York to attend the Assembly General of the UN and with the mission of restoring the confidence of the international market in the Argentine economy. His predecessor, Guido Sandleris, receives a Central Bank when it is about to close an agreement with the International Monetary Fund (IMF).

• Tuesday, September 25th 2018 - 19:04 UTC

  Argentine Central bank governor resigns for personal reasons: Peso slides 5% against the US dollar

  

  The governor of Argentina's central bank, Luis Caputo resigned on Tuesday for personal reasons, the bank said in a statement, a surprise announcement in the midst of the country's talks with the IMF that sent the peso tumbling. Former finance minister Caputo has only held the role since June and is the second Argentine central bank president to resign this year. Argentina's peso currency slid 4.65% to open at 39.15 per U.S. dollar after the announcement, traders said.

• Tuesday, September 25th 2018 - 07:45 UTC

  Oil market turbulence ahead of US sanctions on Iran; OPEC meeting does not plan to increase output

  

  Brent crude breached US$ 81 a barrel on Monday — its highest level in nearly four years — on the back of a tightening oil market and OPEC leaders signaling they won't be immediately boosting output. Global benchmark Brent crude rose as high as US$ 81.39 a barrel, its strongest level since Nov. 21, 2014.

• Tuesday, September 25th 2018 - 06:59 UTC

  “Zero chance” Argentina will default on its debt next year, Macri tells bankers and investors

  

  President Mauricio Macri said on Monday that Argentina was close to a deal with the International Monetary Fund to bolster a US$ 50 billion credit line, while a government source said US$ 3-US$ 5 billion in additional funds could be announced this week.

• Monday, September 24th 2018 - 09:19 UTC

  Macri in New York to convince investors Argentina in on track to stability and address the UN assembly

  

  Argentine president Mauricio Macri is in New York where he is scheduled to address the United Nations General Assembly on Tuesday, but will also be holding a round of talks with business leaders and potential investors, plus granting interviews to key media outlets.

• Monday, September 24th 2018 - 09:15 UTC

  Petrobras plans to increase output 10% next year to some 2.3 million bpd

  

  Brazil’s state-run oil giant Petrobras aims to raise output as much as 10% to around 2.3 million barrels per day (bpd) in 2019 and cut net debt by US$10 billion, according to Chief Financial Officer Rafael Grisolia. The world’s most indebted oil company is on course to reduce debt to US$ 69 billion by the end of this year despite falling short of its US$ 21 billion asset sales target, Grisolia pointed out.

• Monday, September 24th 2018 - 08:16 UTC

  Almost two million Argentines out of a job in the second quarter of 2018

  

  Almost two million Argentines are without a job, more precisely 1,999,387 according to the latest unemployment report from the county's stats office, Indec. In effect unemployment rose in the second quarter to 9.6%, from 8.7% a year ago, making it the highest figure in twelve years.

• Saturday, September 22nd 2018 - 08:53 UTC

  Argentine Peso strengthened for the third straight day on Friday

  

  Argentina’s peso strengthened for the third straight day on Friday, driven by optimism that the government would sign a revised financing deal with the International Monetary Fund to include stricter fiscal measures and faster cash disbursements.

• Saturday, September 22nd 2018 - 08:43 UTC

  Compromise over Brexit is “still possible” says Tusk, while PM May demanded more respect from the EU

  

  European Council President Donald Tusk has said a compromise with the UK over Brexit is “still possible”, after Theresa May warned she was prepared to walk away from talks. In a statement, Mr. Tusk said he was a “true admirer” of the PM.