Economy

Tuesday, October 16th 2018 - 08:38 UTC
Paulo Guedes the ultra-liberal economic advisor of an ultra-populist nationalist

After getting out of its most severe recession in history in 2017, Brazil remains in a state of economic malaise, notching up a mere 1% of growth last year, with public debt forecast to snowball from 77% of GDP to 140% by 2030, according to the World Bank.
Tuesday, October 16th 2018 - 08:23 UTC
US warns Central America to be cautious about relations with Beijing

US Vice President Mike Pence warned Central American nations to be cautious when building relations with China, which has been increasingly active in the region. Amid mounting tensions between the United States and China, Pence brought up ties with Beijing as he met in Washington with leaders of El Salvador, Guatemala and Honduras as well as Mexico's foreign secretary.
Tuesday, October 16th 2018 - 06:52 UTC
Paul Allen, co-founder of Microsoft has died aged 65

Paul Allen, who co-founded Microsoft, has died aged 65 from complications of non-Hodgkin's lymphoma. He had revealed the disease's return only two weeks ago, after previously being treated for it in 2009. Allen had said he and his doctors were “optimistic” about treatment.
Monday, October 15th 2018 - 19:16 UTC
New 50 bolivianos bill released as scheduled

Bolivia's Central Bank (BCB) Monday launched the new 50 bolivianos note (worth around 7.3 US dollars), following the recent release of the 10 and 20 bills.
Monday, October 15th 2018 - 08:04 UTC
UK economic low growth anticipated for next three years, with or without a Brexit no deal

United Kingdom can expect low economic growth for the next three years, while a no-deal Brexit could dent growth even further, says a forecasting body. The EY Item Club predicted GDP growth of 1.3% this year and 1.5% in 2019, down from 1.4% and 1.6% respectively in its previous outlook three months ago.
Monday, October 15th 2018 - 08:00 UTC
The £50 note will survive in a plastic redesign, announced the Bank of England

The £50 note will not be scrapped and will instead get a plastic redesign, the Bank of England has said. Fears that the largest denomination was widely used by criminals and rarely for ordinary purchases had prompted a proposal to abolish it. But ministers said the new version, to be printed in the UK, would be more durable, secure and harder to forge.
Friday, October 12th 2018 - 15:11 UTC
Chile's finance minister defends newest, sharpest increase in fuel price

Chile's Finance Minister Felipe Larraín justified the seventh increase in as many weeks in the price of petrol because the Fuel Price Stabilization Mechanism (Mepco) has subsidized 50 million dollars so far this year.
Friday, October 12th 2018 - 09:05 UTC
Chile wants lithium traded on the London Metals Exchange

Chile has called for lithium to be traded on the London Metals Exchange to provide greater “clarity” about its value, mining minister Baldo Prokurica said. At present, lithium producers negotiate contracts with buyers but the terms of the deals are not made public. Critics say this lack of clarity has a chilling effect on potential new investment in the market since the metal’s value cannot be precisely measured.
Friday, October 12th 2018 - 08:54 UTC
Volatile session in US markets with indexes continuing the several sessions slide

Wall Street indexes continued their slide in Thursday’s volatile session as investors worried about rising interest rates and braced for a trade war hit to corporate earnings a day ahead of the quarterly reporting season kickoff.
Friday, October 12th 2018 - 08:43 UTC
Despite poor weather Argentina expects a 2018/19 wheat crop of 19 million tons

Frost and a lack of rain could scale back Argentina's wheat crop for the 2018-19 season, which is currently seen at a record 19.7 million tons, the Buenos Aires Grains Exchange said on Thursday.