Economy

• Monday, February 19th 2018 - 09:14 UTC

  Venezuela launches its “Petro” crypto-currency, backed with oil, on Tuesday

  

  Venezuela’s “Petro” crypto-currency will attract investments from Turkey, Qatar, the U.S., and Europe, the country’s crypto-currency regulator, Carlos Vargas, told reporters. The Petro will be offered for sale this Tuesday, February 20th, and comes as Venezuela is suffering from quadruple-digit inflation and chronic shortages of food and medicine.

• Monday, February 19th 2018 - 08:53 UTC

  Peru and Australia sign trade deal, which opens market for Aussie farm produce

  

  Australia and Peru have signed a new trade deal that is expected to lead to more local products - including beef, sugar, almonds and dairy - being sold in nation which is a full member of the Pacific Alliance.

• Saturday, February 17th 2018 - 09:55 UTC

  Argentine January inflation 1.8%; minister admits it is a slower pace than expected

  

  Argentina's Consumer Price Index (CPI) rose by 1.8% in January 2018, after increasing 3.1% in December 2017, said the country's statistics office Indec. Despite the deceleration, the reading was higher than market expectations for the monthly consumer price inflation (+1.5%). The result was primarily influenced by higher costs for entertainment and culture (+3.5%).

• Saturday, February 17th 2018 - 09:33 UTC

  European farm lobbies want no further agriculture concessions to Mercosur

  

  European farm lobbies Copa and Cogeca sent a letter to EU Commission President Jean-Claude Juncker opposing the EU move to give further concessions on agriculture in return for gains in other economic sectors to Mercosur.

• Saturday, February 17th 2018 - 09:29 UTC

  Canada will begin free trade talks with Mercosur in Paraguay on 9 March

  

  The Canadian government plans to open free trade talks with the four-nation Mercosur trading bloc in South America at a time when the future of NAFTA is facing increasing uncertainty. Canada sends around 75% of its goods exports to the United States and is looking for new markets to reduce the reliance on its southern neighbor.

• Saturday, February 17th 2018 - 02:06 UTC

  Falklands' second weekly commercial air link talks take off, and should crystallize by next October

  

  The United Kingdom and Argentina, following on the September 2016 joint communiqué to establish additional air links with the Falkland Islands, jointly announced on Friday that third country airlines interested in such operations will be contacted. It is expected that by the end of February the commercial process will be initiated, led by the Falkland Islands, and sometime next October the new weekly air link, with a monthly call in Argentina, will become operational.

• Friday, February 16th 2018 - 10:26 UTC

  US rejects merger between Chicago Stock Exchange and Chinese investor group

  

  The US has rejected a proposed merger between the Chicago Stock Exchange and a Chinese-linked investor group. The decision comes after more than two years of reviews by officials. The tie-up was initially approved by the Committee on Foreign Investment in the United States, pending further approval by the Securities and Exchange Commission (SEC).

• Friday, February 16th 2018 - 09:53 UTC

  Proposal to give £10,000 per year to every UK citizen under 55

  

  The United Kingdom government should give £10,000 per year to every citizen under 55, a report suggests. The Royal Society for the encouragement of the Arts, Manufactrurers and Commerce (RSA) says it could pave the way to everyone getting a basic state wage. The Labour Party has also said it is looking into similar arguments for a Universal Basic Income (UBI).

• Thursday, February 15th 2018 - 09:45 UTC

  Argentina central bank holds benchmark rate at 27.25%; inflation data on Thursday

  

  Argentina’s central bank held its benchmark seven-day interbank lending rate at 27.25% on Wednesday, the monetary authority said in a statement, amid an increase in inflation expectations and “mixed signals” in prices so far this year.

• Thursday, February 15th 2018 - 09:37 UTC

  For the first time in seven years, Euro-zone economy grew faster than UK in 2017

  

  For the first time in seven years, the Euro-zone's economy grew quicker than the UK's last year, according to data from Eurostat released on Wednesday. The preliminary growth estimates for the final quarter of 2017 showed the bloc of Euro nations growing at a combined 2.7% over the course of the year, having expanded 0.6% in the final quarter alone.