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Argentine peso depreciates after exchange controls lifted
Argentine peso depreciates after exchange controls lifted
Business and Economy
by  AFP

Argentina's currency dropped 8.4 percent against the US dollar as markets opened in Buenos Aires Monday, after the partial lifting of exchange controls in place for six years. "Everyone is waiting to see what happens," a trader told AFP. There are fears that loosening exchange controls could fuel inflation, which has dropped under Milei from 211 percent in 2023 to 118 percent last year.

China warns UK against 'politicising' steel furnaces rescue
China warns UK against 'politicising' steel furnaces rescue
Business and Economy
by  AFP

Beijing on Monday warned against "politicising" the rescue of Chinese-owned British Steel, as the UK government raced to secure raw materials to keep the country's remaining steelmaking blast furnaces running. He added the government is "confident in securing the supply of materials needed" to keep running the two blast furnaces at the plant -- the last in the UK which makes steel from scratch.