Tag: economy

Tuesday, January 8th 2019 - 08:37 UTC
World Bank President steps down; possible differences with Trump's policies

World Bank President, Jim Yong Kim has made the surprise announcement that he is stepping down after six years in the post. His resignation will take effect from 1 February. Mr Kim, 59, was not due to leave until 2022, after he was re-elected for a second five-year term in 2017.
Saturday, January 5th 2019 - 08:54 UTC
Markets disappointed with Bolsonaro's watered down pensions reform

Brazil President Jair Bolsonaro on Friday called for minimum retirement ages significantly lower than those proposed by his predecessor, sparking concerns among investors that he will back watered-down pension reform legislation.
Saturday, January 5th 2019 - 08:42 UTC
US delegation to hold trade talks in China on January 7/8, revealed Beijing

A US delegation will visit China next week for talks aimed at defusing the trade war between the world's two largest economies. The closely watched meeting follows a dismal week for US markets, with losses fuelled partly by trade fears.
Saturday, January 5th 2019 - 08:40 UTC
Fed brings relief to markets saying it would be “patient” about rate hikes

Federal Reserve Chair Jerome “Jay” Powell took steps to reassure financial markets on Friday, saying that the US central bank would be “patient” about rate rises. He also defended his independence, saying he would not resign if requested by US President Donald Trump.
Friday, January 4th 2019 - 08:54 UTC
Argentine industrial production plummeted 13.3% last October

Argentina industrial production plummeted 13.3% in October 2018 after plunging 6.8% in the previous month. It was the seventh straight drop and the sharpest decline since June 2002, as all categories fell excluding tobacco (+1.5%) and basic metals (+4.1%).
Friday, December 28th 2018 - 09:20 UTC
Argentina's economic activity in October falls 4%, year-on-year

Economic activity in Argentina fell 4.0% in October versus the same month last year, the government said on Thursday, marking the seventh straight month of declines as the country grapples with recession and high inflation.
Friday, December 28th 2018 - 09:05 UTC
Buenos Aires public transport rates up 40% in three months, beginning January

The Argentine government announced on Thursday new increases in public transport rates, some 40% on average that will apply from next January to travel by bus, train and metro.
Thursday, December 27th 2018 - 08:42 UTC
Strong 5% rebound of Wall Street markets on pledge the Fed chief will not be ousted

Wall Street marked its best day in 10 years as stocks rallied back on Wednesday, giving some post-Christmas hope to a market that has otherwise been battered this December. The Dow Jones Industrial Average jumped more than 1,000 points — its biggest point-gain ever — rising nearly 5% as investors returned from a holiday break. The benchmark S&P 500 index also gained 5% and the technology heavy Nasdaq rose 5.8%.
Friday, December 21st 2018 - 12:01 UTC
Brazil’s development bank “must return” to the Treasury some US$ 25bn

Brazil’s future economy minister wants state development bank BNDES to return 100 billion Reais, some US$25.7 billion, to the nation’s treasury in 2019, a newspaper reported, as the incoming government seeks to cut the nation’s hefty debt load.
Thursday, December 20th 2018 - 09:20 UTC
IMF Executive Board approves US$7.6 billion disbursement for Argentina

The Executive Board of the International Monetary Fund (IMF) completed on Wednesday the second review of Argentina’s economic performance under the 36-month Stand-By Arrangement (SBA) that was approved on June 20, 2018.