Economy

• Friday, September 14th 2018 - 09:25 UTC

  Brazil currency closed on Thursday at a record low on political uncertainty

  

  Brazil's currency closed at a record low of 4.197 to the US dollar on Thursday amid uncertainty and unpredictability surrounding next month's presidential elections. The previous record of 4.166 dated back to January 2016, during a two-and-a-half-year recession.

• Friday, September 14th 2018 - 09:20 UTC

  South Korea interested in becoming associate member of the Pacific Alliance

  

  South Korea and Chile agreed on Wednesday to bolster substantive bilateral partnerships in various sectors on the basis of their free trade agreement (FTA). Korean foreign minister Kang Kyung-wha and his Chilean counterpart Roberto Ampuero held talks on the sidelines of a regional meeting of the World Economic Forum (WEF) in Hanoi, according to Kang's ministry.

• Friday, September 14th 2018 - 09:01 UTC

  Turkey property sales, rental contracts and leasing must be made in the Lira currency

  

  Turkey ruled on Thursday that property sales, rental contracts and leasing transactions must be made in lira from now on, halting the use of foreign currencies for such deals in a fresh step to support the ailing local currency. All business deals inside the country should be conducted in lira, President Tayyip Erdogan said, adding that nobody apart from exporters and importers should cross paths with foreign currency.

• Friday, September 14th 2018 - 08:50 UTC

  Maduro in China after more financial support to prop Venezuela's collapsing economy and oil output

  

  Venezuelan President Nicolas Maduro is travelling to China to discuss economic agreements, as the crisis-struck OPEC nation seeks to convince its key Asian financier to disburse fresh loans.

• Friday, September 14th 2018 - 08:42 UTC

  US comes out strongly in support of Taipei in its influence policy dispute with Beijing

  

  The State Department announced last week that it would temporarily recall U.S. ambassadors to the Dominican Republic, El Salvador and Panama for consultations in Washington. The meetings will focus on recent decisions by Latin American countries to no longer recognize Taiwan and ways the U.S. can “support strong. independent, democratic institutions and economies throughout Central America and the Caribbean”

• Friday, September 14th 2018 - 08:37 UTC

  BoE and European central bank keep rates unchanged; Turkey hikes 625 points to 24%

  

  Stocks in Europe reversed earlier gains by Thursday's close to finish lower, as investors digested fresh news out of the central banking sphere. The pan-European STOXX 600 closed down 0.15%, with the majority of sectors falling into negative territory. The U.K.'s FTSE 100 slipped 0.43% by the close, while France's CAC 40 ended a touch lower, off 0.08%, and Germany's DAX rose 0.19%.

• Friday, September 14th 2018 - 08:22 UTC

  Governor Carney warns of economic chaos and property crash in a no-deal Brexit

  

  Bank of England governor Mark Carney has delivered a “chilling” warning to Theresa May’s cabinet that a no-deal Brexit could lead to economic chaos, including a property crash that could see house prices fall by a third.

• Thursday, September 13th 2018 - 10:39 UTC

  IMF team in Buenos Aires for talks on the standby loan package

  

  Officials from the International Monetary Fund are in Argentina as part of talks to strengthen and accelerate a crisis loan package, the global lender said Wednesday. The IMF and Buenos Aires agreed in June on a three-year, US$50 billion rescue lending programme but Argentina has since asked for a more rapid disbursement.

• Thursday, September 13th 2018 - 10:34 UTC

  Argentine labor unions and social groups protest austerity measures in Buenos Aires City

  

  Labor unions and social groups blocked streets in downtown Buenos Aires on Wednesday, with more marches planned over the days ahead over austerity measures proposed by the government and backed by the International Monetary Fund. Protesters are angry about the belt-tightening policies, which are cutting services to low-income Argentines already walloped by inflation of 31 percent and climbing.

• Thursday, September 13th 2018 - 10:10 UTC

  Ciro Gomes pledges to de-concentrate Brazil's banks, and to help 63 million listed as delinquent debtors

  

  Center-left populist presidential candidate Ciro Gomes vowed on Wednesday to reduce concentration in Brazil's banking sector if elected in October, warning that he would open the sector up to more foreign competition if necessary.