Economy

Wednesday, September 5th 2018 - 11:52 UTC
Tourism becomes world’s third-largest export sector according UNWTO

The international tourism sector has seen uninterrupted growth in arrivals for eight straight years, with 2017’s growth being the highest since 2010; with a record performance of US$ 1.6 trillion. This represents an increase of 7%, according to the World Tourism Organization (UNWTO).
Wednesday, September 5th 2018 - 08:16 UTC
Argentine Peso slid another 2.18% and the Central bank sold US$ 350 million in reserves

Argentina’s peso slid further on Tuesday as investors reacted with skepticism to president Mauricio Macri’s plans. Many worry he will not be able to push reforms through a restive Congress amid growing frustration on the streets of Buenos Aires.
Wednesday, September 5th 2018 - 07:55 UTC
Falklands 2017/18 budget had an operating surplus of £38 million

The Falkland Islands Government operating surplus of £38 million for 2017/18 was driven primarily by favourable Corporation Tax receipts. The original budgeted deficit in my view led the former Legislative Assembly to be over cautious in their demands leading to unnecessary thrift in some areas, according to MLA Roger Spink, who is head of the Government Services Portfolio of the Assembly.
Wednesday, September 5th 2018 - 07:30 UTC
Argentina/IMF discussions continue this Wednesday; strong support from Trump

Argentina “made progress” on Tuesday in talks with the International Monetary Fund aimed at securing an accelerated disbursement of a US$50 billion loan it hopes will calm its debilitating economic crisis.
Wednesday, September 5th 2018 - 06:28 UTC
Brazil's Real remained flat on Tuesday but the stock market was down 2%

The Brazilian Real erased early losses on Tuesday after state prosecutors charged Workers Party vice presidential candidate Fernando Haddad with corruption, driving investors to pare bets on his electoral strength.
Tuesday, September 4th 2018 - 08:41 UTC
Brazil's Real and Argentina's Peso slumped on Monday

The Brazilian Real slumped on Monday as mounting concerns over this year's presidential election added to global risk aversion, while the Argentine peso extended a recent sell-off that also spread into stock markets in Latin America.
Tuesday, September 4th 2018 - 06:58 UTC
Brexit debate: PM May “on a narrow path with people chucking stones from both sides”

British Prime Minister Theresa May's brief summer holiday from Brexit battles came to a noisy end Monday, as she faced attack from both sides of her divided Conservative Party. Archrival Boris Johnson inflamed speculation that he aims to oust May by branding her plan for Brexit “a disaster”.
Monday, September 3rd 2018 - 19:17 UTC
Macri admits the seriousness of the situation and Dujovne is off to meet with IMF

President Mauricio Macri unveiled plans on Monday to raise export taxes on grains and slash the number of government ministries in a bid to balance its budget next year, as Argentina seeks a deal with the IMF to accelerate a US$ 50 billion standby loan program.
Monday, September 3rd 2018 - 09:25 UTC
Argentina's efforts to regain confidence: cutting number of ministries and taxes on farm exports

Argentina is drafting plans to cut its budget deficit to convince nervous investors it can pay its debts and this Monday Finance minister Nicolas Dujovne is scheduled to announce measures, before traveling to Washington to meet with IMF's chief Christine Lagarde.
Monday, September 3rd 2018 - 09:20 UTC
EU and UK clash openly over Theresa May's Chequers plan

The EU's chief Brexit negotiator Michel Barnier has said he is “strongly” opposed to key parts of Theresa May's proposals for a future trade deal. On Sunday morning the prime minister said she would not compromise on the UK government's Chequers plan.