Economy

Tuesday, October 31st 2017 - 07:43 UTC
Macri vows reforms to lower taxes and achieve fiscal balance

Argentina's President Mauricio Macri vowed to press ahead with reforms to the country's tax, labor and retirement systems in a speech on Monday, a week after his “Let's Change” coalition swept to victory at the polls in midterm elections.
Monday, October 30th 2017 - 11:02 UTC
Brazil wants detailed investigation into Canada's aerospace industry “subsidies”

Canada has urged the World Trade Organization to block attempts by Brazil to trigger a detailed investigation of its aerospace industry to buttress its case that subsidies to Bombardier caused “serious prejudice” to Brazil’s Embraer. The procedural move by Canada comes a month after the WTO agreed to set up a panel to investigate Brazil’s claim that Canada provided harmful aid to the CSeries jet.
Monday, October 30th 2017 - 07:00 UTC
Venezuela makes last minute major bond payment, but 2018 service will demand US$ 10bn

Venezuelan state oil company PDVSA began making a major bond payment, easing short-term worries about default but leaving the populist government with less cash to attend to food shortages and economic depression.
Friday, October 27th 2017 - 08:51 UTC
Tierra del Fuego project in Falklands programmed for failure

A project investigating the potential for trade between the Falklands and Argentina appears to have involved a dearth of research.
Friday, October 27th 2017 - 08:38 UTC
EU confirms commitment to reach trade accord with Mercosur by end of the year

European Union leaders have agreed to press ahead with Mercosur talks and European Commission president Jean-Claude Juncker confirmed the bloc will “continue to do everything” to conclude a deal before the end of the year. “It's important,” Mr Juncker said. “We underestimate the importance of Mercosur for the European Union.”
Thursday, October 26th 2017 - 06:49 UTC
YPF unveils ambitious US$ 30bn five-year investment plan

Argentina's state-controlled energy company YPF has unveiled a US$ 30bn five-year investment plan to boost oil production and sharpen its focus on electric power generation. Some US$21.5bn will come from YPF's own coffers, with the remainder to be sourced from its project partners, the company said in a statement on Wednesday.
Thursday, October 26th 2017 - 06:04 UTC
Bloomberg describes Brexit as the “single stupidest thing any country has ever done”

Michael Bloomberg, the billionaire media mogul and former mayor of New York, has said Brexit is the “single stupidest thing any country has ever done” apart from the election of Donald Trump as US president. Bloomberg argued that “it is really hard to understand why a country that was doing so well wanted to ruin it” with the Brexit vote, in a series of outspoken remarks made at a technology conference in Boston a fortnight ago.
Thursday, October 26th 2017 - 02:26 UTC
World wine production at its lowest in 50 years; Europe hard hit, but Argentina will see 25% increase

World wine production is having a historically bad year. Europe, home to the world's leading wine producers, is making wine at significantly lower levels than usual – and that's because of “extreme weather events” such as frost and drought that have damaged vineyards, according to the International Organization of Vine and Wine, (OIV)
Wednesday, October 25th 2017 - 10:02 UTC
Macri reminds cabinet “more votes, means more responsibilities”

“I'm not that happy, more votes means more responsibilities”, Argentine president Mauricio Macri told his ministers when they applauded him on entering the first cabinet meeting following on Sunday's victory of the ruling coalition, Let's Change in the midterm elections.
Wednesday, October 25th 2017 - 09:35 UTC
Weak pound makes UK one of the best-value travel destinations, says Lonely Planet

The weak pound has made the UK one of the world's best-value travel destinations, according to publisher Lonely Planet. Sterling has fallen sharply against the dollar and the euro since last year after ongoing Brexit uncertainty.