Economy

Friday, August 24th 2018 - 09:06 UTC
Latin American growth lowered to 1.5% this year, in a “complex global scenario”

Latin America's economic growth is set to come in lower than expected this year, as US protectionism and widespread wariness of emerging markets put a drag on the region, a UN panel said Thursday. The Economic Commission for Latin America and the Caribbean (ECLAC) slashed its growth forecast for the region by 0.7 point to 1.5%, saying the “complex global scenario” had dimmed the outlook since its last report in April.
Friday, August 24th 2018 - 09:02 UTC
Trump warns that any attempt to impeach him would crash the US economy

US President Donald Trump has warned that any attempt to impeach him would result in the crash of the economy. The President made the claim as the White House struggled to manage the fallout from a plea deal Mr Trump's longtime personal lawyer Michael Cohen made with prosecutors, and the conviction of his former campaign chairman Paul Manafort on financial charges.
Friday, August 24th 2018 - 08:50 UTC
Argentina’s economy contracts in June for the third month running

Argentina’s economy contracted 6.7% in June compared with the same month last year, and 1.3% compared with May, government statistics agency Indec said on Thursday. June was the third consecutive month of decline following 5.2% in May and 0.6% in April.
Friday, August 24th 2018 - 08:24 UTC
Brazilian currency sliding to record lows ahead of October's election outcome

The Brazilian currency Real fell to a 31-month low versus the U.S. dollar on Thursday on jitters ahead of the country’s October election. Jitters across emerging markets caused by a stronger U.S. dollar and exacerbated by the unfolding currency crisis in Turkey already took a toll on the Brazilian unit before this week.
Thursday, August 23rd 2018 - 09:06 UTC
Opinion polls confirm Lula's popularity and rattles markets

The popularity of imprisoned former Brazilian president Lula da Silva has grown strongly despite his corruption conviction, an election poll on Wednesday showed, a result that rattled markets and raised the possibility that Lula’s running mate could ultimately become the next occupant of the country’s presidential palace.
Thursday, August 23rd 2018 - 08:58 UTC
Argentine trade deficit in seven months climbs to US$ 5.9 billion

Argentina posted a trade deficit of US$789 million in July, government statistics agency Indec said on Wednesday, compared with a deficit of US$ 359 million in June and a deficit of US$ 748 million in July 2017.
Thursday, August 23rd 2018 - 08:52 UTC
Federal Reserve ready to raise interest rates, according to minutes

United States Federal Reserve officials discussed raising interest rates soon to counter excessive economic strength but also examined how global trade disputes could batter businesses and households, minutes of the U.S. central bank’s last policy meeting showed.
Thursday, August 23rd 2018 - 08:48 UTC
Chile's GDP in the second quarter grew 5.3%

Chile's gross domestic product grew 5.3% in the second-quarter of 2018 compared with a year earlier, its biggest jump in nearly six years, the central bank said this week.
Thursday, August 23rd 2018 - 08:40 UTC
Scotland urges London to rule out a “deeply damaging and disruptive” no deal Brexit

Scotland's Brexit secretary has urged the UK government to rule out a “no deal Brexit”, arguing that it would be “deeply damaging and disruptive”. Michael Russell was speaking ahead of a major speech by his UK government counterpart Dominic Raab.
Thursday, August 23rd 2018 - 08:33 UTC
First container vessel attempting the melting Arctic sea route north of Russia

Danish vessel setting sail from Vladivostok this week is set to become the first container ship to tackle the Arctic sea route north of Russia. The Venta Maersk, owned by Maersk Line, and carrying 3,600 containers, hopes to reach St Petersburg by late September. That could be up to 14 days faster than the southern route via the Suez Canal.