Economy

• Monday, August 7th 2023 - 10:16 UTC

  Retail sales keep plunging in Argentina

  

  Argentina's Confederation of Medium-Sized Companies (CAME) said in a report released Sunday that retail sales dropped 3.6% interannually in July for a total 1.6% reduction so far in 2023 as “inflation is hitting consumption in all areas of the economy except in the pharmaceutical sector.”

• Saturday, August 5th 2023 - 10:50 UTC

  Singapore interested in sealing trade accord with Mercosur and in the Port of Santos concession

  

  The government of city-state Singapore, in Southeast Asia, intends to participate in the concession process for Brazil's largest terminal, the Port of Santos (SP), as part of the greater trade negotiation with the Mercosur block.

• Saturday, August 5th 2023 - 10:34 UTC

  Argentina: “Blue” dollar up again; trend expected to continue

  

  The “blue” exchange rate between the Argentine peso and the US dollar closed Friday at AR$ 574 while the Central Bank (BCRA) continued buying foreign currency to feed its dwindling reserves, it was reported in Buenos Aires.

• Saturday, August 5th 2023 - 10:31 UTC

  Argentina pays the IMF with loan from Qatar

  

  Argentine authorities Friday announced that they would be paying the International Monetary Fund (IMF) a maturity worth US$ 775 million through a 580 million Special Drawing Rights (SDRs) loan from Qatar. The Asian nation will lend Argentina Special Drawing Rights (SDR, money that countries reserve in the IMF), it was explained.

• Friday, August 4th 2023 - 10:56 UTC

  “Blue” dollar knows no ceiling in Argentina

  

  The “blue” (a euphemism for “black market”) dollar went up again Thursday in Argentina hitting a new all-time high of AR$ 570 at the end of the day as the Aug. 13 Simultaneous, Mandatory, and Open Primary (PASO) presidential elections loom over, it was reported in Buenos Aires.

• Friday, August 4th 2023 - 08:17 UTC

  Bank of England rate up to 5,25%, highest in fifteen years; no prospects of abating

  

  The Bank of England raised on Thursday its main interest rate to 5.25%, the highest in 15 years, as the country strives to control persistently high inflation. The quarter percentage point hike was the bank's 14th in a row.

• Thursday, August 3rd 2023 - 10:50 UTC

  Relief in Brazil, Central bank lowers benchmark interest rate by 50 basis points

  

  Wednesday relief for the Brazilian government, the central bank decided on a more aggresive rate-cutting reducing its benchmark interest rate by 50 basis points and signaling more of the same in the months ahead due to an improving inflation outlook.

• Thursday, August 3rd 2023 - 10:14 UTC

  Total Falklands/UK trade in four quarters to end of Q1 2023 reached £124 million

  

  Total trade in goods and services (exports plus imports) between the UK and Falkland Islands was £124 million in the four quarters to the end of Q1 2023, an increase of 6.9% or £8 million in current prices from the four quarters to the end of Q1 2022.

• Thursday, August 3rd 2023 - 10:00 UTC

  Saudi Arabia in talks to join the BRICS bank, probably in this month's summit in South Africa

  

  The New Development Bank (NDB), also known as the “BRICS bank,” is in talks with Saudi Arabia on admitting Riyahd as its ninth member, which would strengthen the NDB's funding options amid the impact of the Russia-Ukraine conflict, according to media reports.

• Thursday, August 3rd 2023 - 07:05 UTC

  Petrobras processing more oil in domestic refineries, as export volumes drop 22%

  

  Brazil's giant oil and gas corporation Petrobras this week presented its second-quarter report, which showed a drop in oil exports in a scenario of increased processing at domestic refineries.