Economy

Tuesday, December 1st 2015 - 08:11 UTC
India outpaces China in economic growth boosted by domestic demand and manufacturing

India's economic growth picked up in July-September, outpacing China on improving domestic demand and manufacturing activity, and the acceleration could persuade the country's central bank to keep interest rates unchanged at its Tuesday meeting.
Tuesday, December 1st 2015 - 07:53 UTC
Yuan joins the exclusive club of IMF's basket of reserve currencies

The International Monetary Fund (IMF) has announced that China's currency, the Yuan, will join the fund's basket of reserve currencies. Currently just the US dollar, the euro, the yen and the pound are in the group.
Tuesday, December 1st 2015 - 07:35 UTC
Brazil's economy expected to further contract, according to the Central bank

Analysts expect Brazil's economy to contract by 3.19% this year, with inflation hitting 10.38%, the Central Bank said Monday. GDP and inflation estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Monday, November 30th 2015 - 07:51 UTC
EU hopes Macri's election will give new impetus to trade talks with Mercosur

The European Union said it hopes the election of a centre-right government in Argentina will give new impetus to stalled talks on a free trade pact with Mercosur, the Latin American bloc.
Friday, November 27th 2015 - 15:22 UTC
Oil jobs lost: 250.000 and counting, Texas likely to see massive layoffs soon

Crude oil just capped off a third straight week of declines, as WTI nears the $40 per barrel threshold. Goldman Sachs is once again raising the possibility of oil dipping into the $20s per barrel. That spells more pain for the energy sector. Many companies have already slashed spending and culled their payrolls, but the total number of job losses continues to climb.
Friday, November 27th 2015 - 07:55 UTC
Brazilian banks follow closely events in Argentina: Dollar at 12 Pesos

Brazilian banks which follow closely events in Argentina and prospects of the new government under president Mauricio Macri, believe the official exchange rate of 9.67 Pesos to the dollar will inevitably have to be devalued, to 12 Pesos by the end of the year, which means a 24% depreciation.
Friday, November 27th 2015 - 07:43 UTC
US gaining influence in Caricom: signs US$ 165m in development assistance

The United States Agency for International Development (USAID) and the Caribbean Community (CARICOM) signed in Guyana, this week, agreements that will see countries of the eastern and southern Caribbean benefiting from US$165 million in development assistance.
Thursday, November 26th 2015 - 16:57 UTC
In a split vote, Brazil's central bank leaves Selic rate unchanged; pressure for an increase

Brazil's central bank kept interest rates on hold for the third straight meeting on Wednesday in a split vote that shows policymakers are uneasy about inflation, a worsening recession which might lead to a raise in rates early in 2016.
Thursday, November 26th 2015 - 08:23 UTC
Brazil in shock: a leading senator and billionaire fund manager arrested for obstructing justice

Brazil is in shock following the arrest by police on Wednesday of a senior ruling-party senator and a billionaire investment banker in the intensifying probe of a huge corruption network centered on state oil giant Petrobras.
Thursday, November 26th 2015 - 08:18 UTC
Poor report on Rousseff's performance from Brazil's central bank forecast

Analysts expect Brazil's economy to contract by 3.15% this year and 2.01% in 2016, the Central Bank reported. The gross domestic product (GDP) estimate comes from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.