Mexico’s moderate Finance Minister Carlos Urzua resigned on Tuesday with a letter that shocked markets by citing ‘extremism’ in economic policy, before President Andres Manuel Lopez Obrador quickly named a well-regarded deputy minister to replace him.
The government raised its assessment of the economy for May on Friday, saying downside trends are coming to a halt, helped by upbeat industrial production, though an uncertain outlook for the global economy remains due to the US-China trade dispute.
A new report published in an Iranian economic website shows that the number of vacant properties across the country has topped 2.6 million as authorities mull taxes on empty houses in a bid to curb exorbitant prices in the housing market.
Iran’s ambassador to the UK urged the US to stop using “economic terrorism” to force Tehran into negotiations, saying Washington needs to act “normal” and avoid interfering in the Islamic Republic’s ties with other states.
The South Korean won, one of the world's worst-performing currencies over the past month, may further lose ground down the road, possibly flirting with the 1,200-won threshold, given a slew of factors pointing in that direction, although its current downward momentum may ease in the near term, analysts said on Tuesday.
Communist-run Cuba said on Friday it would control more the sales of certain foodstuff and hygiene products, including adding some back to the ration card, due to shortages that it blamed partly on the tightening of the US trade embargo.