Economy

• Monday, May 21st 2018 - 08:52 UTC

  US/China trade war “on hold”; Beijing agrees to “substantially reduce” surplus

  

  The United States and China are pulling back from the brink of a trade war after the world's two biggest economies reported progress in talks aimed at bringing down America's massive trade deficit with Beijing. “We are putting the trade war on hold,” Treasury Secretary Steven Mnuchin said on Sunday.

• Saturday, May 19th 2018 - 09:43 UTC

  Why the high unemployment rate in Brazil is going down

  

  The number of people living in Brazil in a state of helplessness has reached record levels and has actually contributed to the reduction of the unemployment rate over the past 12 months. As the first quarter of 2018 came to an end, 4.6 million people found themselves in a state of helplessness – an increase of 511 thousand people over the course of one year.

• Saturday, May 19th 2018 - 09:27 UTC

  China/US trade talks on a more positive track; Beijing dumps sorghum levy

  

  Beijing has dropped an anti-dumping investigation into imported U.S. sorghum, which it had accused the United States of unfairly subsiding. It has also given approval for a U.S. private equity firm to buy Toshiba's memory chip business. Those gestures could suggest a thaw with the U.S. as trade talks went on in Washington in an atmosphere of hopefulness but hardly assurance of a breakthrough in the impasse.

• Saturday, May 19th 2018 - 06:58 UTC

  A “transformational” year for Falklands Sea Lion development, says Rockhopper Exploration

  

  Rockhopper Exploration PLC at its annual general meeting on Friday said 2018 could be “transformational” as it seeks to secure funding for its Sea Lion project in the Falkland Islands. Rockhopper said it has nearly completed selecting the main contractors for the project, in the Falklands, as well as vendor funding worth US$ 400 million.

• Friday, May 18th 2018 - 08:56 UTC

  UN report: Growth in global economy exceeds expectations, but increased risks could threaten economic outlook

  

  Growth in the world economy is surpassing expectations and global GDP is now expected to expand by more than three per cent this year and in 2019, reflecting strong growth in developed countries and broadly favourable investment conditions, a new UN report finds.

• Friday, May 18th 2018 - 08:48 UTC

  Brazilian government anticipates lower economic growth for 2018

  

  The Brazilian government on Thursday admitted for the first time this year that economic growth in 2018 will be below the original target of 3% projected in January. The downgrade followed the release of economic indicators showing a slower than expected recovery.

• Friday, May 18th 2018 - 07:49 UTC

  IMF confirms support for Macri, but also with greater focus on social protection

  

  The International Monetary Fund will move quickly to agree on a loan program to support Argentina but there are no details yet on what it will entail, a fund spokesman said on Thursday. However spokesperson Gerry Rice also underlined that the IMF nowadays has a greater focus on social protection, in particular towards the most vulnerable, ensuring the economy and living standards.

• Thursday, May 17th 2018 - 09:22 UTC

  Temer claims that in two years his administration has takes Brazil out of recession

  

  Brazilian President Michel Temer said this week that his administration has taken the country out of debt and successfully overcome the brutal economic recession of the past two years.

• Thursday, May 17th 2018 - 09:10 UTC

  The dollar falls in Argentina while in Uruguay the rise “does not worry”

  

  The recent rise of the dollar in Argentina had some impact in Uruguay, where it has an accumulation of 7.4% in May. However, for the president of the Central Bank of Uruguay, Mario Bergara, the escalation only owes 20% to the exchange rate in Argentina and rather considers that Uruguay is accompanying global trends.

• Thursday, May 17th 2018 - 08:47 UTC

  Brazil leaves basic rate unchanged citing a more volatile world situation

  

  Brazil's central bank unexpectedly left its benchmark interest rate unchanged on Wednesday, citing a more challenging and volatile situation in world economies. The bank left its benchmark Selic rate at an all-time low of 6.5%, after signaling at its previous meeting it would cut at least once more.