Economy

• Wednesday, October 4th 2023 - 10:30 UTC

  Brazil to drastically cut dairy imports from Mercosur and ease taxes to promote domestic production

  

  Brazil is planning to curb dairy imports from Mercosur countries. In the next few days, a decree will be published that will change the rules for tax benefits for dairies, agro-industrial companies, and cooperatives that participate in the Ministry of Agriculture’s milk program PMLS. The objective is to reduce tax incentives for companies that purchase dairy products from abroad.

• Wednesday, October 4th 2023 - 09:55 UTC

  Argentina: “Blue” dollar hits new all-time high

  

  The “blue” (a euphemism for “black market”) dollar rose AR$ 10 Tuesday and sold for AR$ 810, thus setting a new record, it was reported from Buenos Aires.

• Tuesday, October 3rd 2023 - 20:21 UTC

  One in ten Scots living in “very deep poverty,” Rowntree Foundation

  

  BBC published a report saying half a million people in Scotland are living in “very deep poverty”, an anti-poverty charity report has found. The Joseph Rowntree Foundation (JRT) said poverty for working people was growing and 10% of employees were in locked in persistent low pay, with women and ethnic minorities most at risk, and 60% of children in poverty have at least one working parent.

• Tuesday, October 3rd 2023 - 10:20 UTC

  China's weaker economy means problems for commodity supplier countries from Latin America

  

  The World Bank cut its economic growth forecast for China for 2024, citing continued difficulties in the domestic market including the property crisis and a fading rebound from the re-opening this year.

• Tuesday, October 3rd 2023 - 09:59 UTC

  Argentina: Digital currency bill will not wait until election day

  

  Argentina's Economy Minister and presidential candidate Sergio Massa announced Monday that he would not wait for the results of the Oct. 22 polls to send to Congress the bill for the creation of the new digital currency he announced during Sunday's electoral debate. “We are going to launch the Argentine digital currency,” Massa told the C5N network.

• Tuesday, October 3rd 2023 - 09:43 UTC

  Uruguayan exports keep downhill path

  

  According to a foreign trade study by the Uruguay XXI Institute released Monday in Montevideo, the South American country's exports continued to fall in the month of September by 9% year-on-year and 18% so far in 2023.

• Monday, October 2nd 2023 - 09:25 UTC

  US: Last-minute proposal to avert shutown passed

  

  A last-minute temporary funding measure to prevent the US government from shutting down has been approved by the House of Representatives, it was reported in Washington DC. The measure does not include additional funding for Ukraine or border security, it was also explained.

• Monday, October 2nd 2023 - 09:07 UTC

  British national living wage is set to increase to £11 an hour from next April, Chancellor Hunt

  

  The British national living wage is set to increase to at least £11 an hour from next April, Chancellor of the Exchequer Jeremy Hunt is expected to confirm this Monday in a speech to the Conservative Party conference. The move will benefit two million of the lowest-paid workers, according to an advance of the speech shown to BBC.

• Monday, October 2nd 2023 - 07:11 UTC

  Credit Suisse agrees with Mozambique to settle a US$ 1,5bn tuna bonds fraud case

  

  Credit Suisse reached a last-minute settlement with Mozambique on Sunday in a US$1.5-billion (€1.42 billion) bribery and fraud case, its owner UBS was quoted as saying by Bloomberg news agency, a day before a London trial was due to start.

• Sunday, October 1st 2023 - 10:25 UTC

  Argentine presidential candidate Milei: “Should we dollarize?” or rather “Why should we keep the peso?”

  

  Next 22 October a presidential election will take place in Argentina, South America's second-largest economy and three candidates are competing for the job, Sergio Massa, the incumbent, Patricia Bullrich, from the traditional opposition when two coalitions prevailed in the Argentine political system, and Javier Milei, a declared libertarian, economist, and if published Argentine opinion polls can be trusted, the front runner.