Economy

• Monday, July 24th 2017 - 08:38 UTC

  Morales highlights Bolivian independence from the IMF and World Bank

  

  President Evo Morales has highlighted the total Bolivian independence from the International Monetary Fund (IMF) and the World Bank (WB), which have carried out “devastating economic policies for many years” in this South American nation.

• Monday, July 24th 2017 - 07:07 UTC

  Mercosur and Colombia agree to a limited list of tariff-free products

  

  Mercosur inked a trade deal with Colombia last Friday to allow limited quantities of tariff-free trade in products including automobiles, textiles and agrochemicals, Argentina's and Colombia's governments said.

• Monday, July 24th 2017 - 06:49 UTC

  First full-scale floating wind farm begins to take shape off Scotland

  

  The world's first full-scale floating wind farm has started to take shape off the north-east coast of Scotland. The revolutionary technology will allow wind power to be harvested in waters too deep for the current conventional bottom-standing turbines used.

• Sunday, July 23rd 2017 - 13:11 UTC

  Despite Trump's pledge Carrier laying off workers and moving to Mexico

  

  The Carrier factory where a president-elect Donald J. Trump boasted of having crafted a deal to save jobs from moving to Mexico has begun laying off workers. 338 employees at the Carrier Corporation fan coil manufacturing facility in Indianapolis will be let go Friday under the previously announced plan, the company said in a statement.

• Sunday, July 23rd 2017 - 12:23 UTC

  Bank of America moves European operations to “natural location” Dublin

  

  The Bank of America announced Friday that Dublin will be the new base for its European Union operations following Britain’s decision last year to split from the EU. Brian Moynihan, CEO of the Charlotte-based bank, made the announcement during a trip to the Irish capital city. It becomes the latest large U.S. bank in recent weeks to disclose plans for continuing to serve clients in EU countries following the so-called Brexit vote in 2016.

• Sunday, July 23rd 2017 - 12:14 UTC

  Maersk closer of first gas in North Sea Culzean field; 60.000/90.000bpd expected

  

  Maersk Oil said on Friday that it had reached another key milestone ahead of first gas from its flagship North Sea Culzean field. All three platform jackets for the £3.3billion project have now been put in place on time and on budget, the company said.

• Saturday, July 22nd 2017 - 23:04 UTC

  NAFTA members agree negotiations round; Mexico insists on strict timetable

  

  United States, Mexican and Canadian officials have agreed to an aggressive timetable to renegotiate the North American Free Trade Agreement (NAFTA), sources said, aiming to conclude early next year to avoid Mexico’s 2018 presidential elections.

• Saturday, July 22nd 2017 - 22:58 UTC

  Mining companies considering expansion in Chile as copper price recovers

  

  Chilean authorities have approved a US$2.5 billion expansion of BHP Billiton's Spence copper mine, a local newspaper reported, though the company has not yet decided whether to go ahead with the project.

• Saturday, July 22nd 2017 - 22:17 UTC

  Growing significance of trade with Latin America for India

  

  (*)By R. Viswanathan - For those who think that Latin America is too far and cost of freight is too high and therefore the region should be less important for India’s trade, here is the eye opener from the 2016-17 (April-March) statistics of the Commerce Ministry of India.

• Saturday, July 22nd 2017 - 11:31 UTC

  New Lib-Dem leader pledges “exit from Brexit” and calls to capture “gigantic space” in British politics

  

  Sir Vince Cable has become the new leader of the Liberal Democrats with a promise to offer voters the possibility of an “exit from Brexit” through a second referendum on EU membership. The former business secretary took up the role after nominations for the post closed without him facing any challengers, becoming, at 74, the oldest leader in the party’s history.