Economy

Monday, November 13th 2017 - 08:43 UTC
EU and Mercosur “very close” to reaching an accord, says top European official

The European Union and Mercosur are close to concluding a free trade accord after decades of fitful talks, an EU official said. “We’re that close to having a new association and trade agreement between EU and Mercosur,” European Commissioner for Jobs, Growth, Investment and Competitiveness Jyrki Katainen said, holding his index finger and thumb just slightly apart.
Monday, November 13th 2017 - 08:30 UTC
IMF mission praises Macri's reforms but warns on inflation and budget deficit

An IMF visiting team in Buenos Aires concluded its annual review of Argentina's economy and praised the efforts of President Mauricio Macri's nearly two-year-old government to transform the economy saying it has yielded “significant” gains, but also warned that risks remain.
Monday, November 13th 2017 - 07:17 UTC
Venezuela summons bond holders to a creditors' meeting in Caracas

Venezuela's foreign debt renegotiation committee will meet with creditors at 2 p.m. (1800 GMT) on Monday at the government's “White Palace” in downtown Caracas, the finance minister said on Saturday.
Saturday, November 11th 2017 - 09:07 UTC
Fed member anticipates rates likely to rise next month and three times in 2018

United States interest rates are likely to rise again next month and a further three times next year, one of the Federal Reserve's rate-setters has said. John Williams, who sits on the lliams, advanced a rate rise in December “makes sense, at least based on the information I have today”.
Saturday, November 11th 2017 - 08:55 UTC
YPF will relocate investment from natural gas to crude oil, because of changes in subsidies policy

Argentina's state-run oil company YPF is “disappointed” by cuts to the government's natural gas production subsidies and will re-allocate investment toward crude oil production.
Saturday, November 11th 2017 - 08:46 UTC
Argentina cancels proposed tax on wine included in a fiscal reform

Argentina’s government has decided to ditch a proposed tax on wine after vineyards complained the measure would cripple the industry, the governor of the country’s top wine-making province said.
Friday, November 10th 2017 - 21:11 UTC
Brexit has a date and will be written into law: 11pm GMP 29 March 2019

The date of Brexit will be written into law as Theresa May warned Tory rebels that the process of leaving the European Union will not be derailed. Amendments to legislation going through Parliament will spell out that the UK’s membership of the EU will end at 11pm GMT, midnight in Brussels, on 29 March 2019.
Friday, November 10th 2017 - 18:25 UTC
Europe gets tough on Brexit: UK has two weeks to clarify key issues or make concessions

The UK has two weeks to clarify key issues or make concessions if progress is to be made in Brexit talks, the bloc's chief negotiator has said. Michel Barnier was speaking after meeting the Brexit secretary for talks on citizens' rights, the Irish border, and the UK's “divorce bill”.
Friday, November 10th 2017 - 17:59 UTC
Trump doesn't blame China for its trade surpluses: “they work for the benefit of their citizens”

President Donald Trump has said he does not blame China for the “unfair” trade relationship between the countries, despite long railing against the economic imbalance. Speaking in Beijing, he gave China “credit” for working to benefit its citizens by taking advantage of the US.
Friday, November 10th 2017 - 17:46 UTC
Strong tourism demand during the boreal summer; arrivals in July/August totaled over 300 million

Demand for international tourism remained strong during the Northern Hemisphere summer peak season. International tourist arrivals in July and August totaled over 300 million for the first time ever according to the latest UNWTO World Tourism Barometer. Many destinations reported double-digit growth, in particular in the Mediterranean.