Peru will be the second fastest growing Latam economy in 2025, says minister
Salardi pointed to fiscal improvement and foreign investment as some of the factors helping to support the growth of the South American country's economy.
Peru is bouncing back from an economic recession, with the government and central bank forecasting positive prospects for 2025, with fewer inflationary pressures and an investment recovery.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
22 minutes ago
- Reuters
Wall St mixed, chip majors wobble after China sales deal
Aug 11 (Reuters) - Wall Street's main indexes were choppy on Monday as investors prepared for a busy week and chip companies seesawed after agreeing to share a portion of revenue from China sales with the U.S. under a trade policy shift from the Trump administration. Nvidia (NVDA.O), opens new tab and Advanced Micro Devices (AMD.O), opens new tab reversed premarket losses and were last up 0.2% and 2.6%, respectively, in volatile trading. A U.S. official told Reuters the semiconductor majors had agreed to give the United States government 15% of revenue from sales of their advanced chips to China. Analysts said the levy could hit the chipmakers' margins and set a precedent for Washington to tax critical U.S. exports, potentially extending beyond semiconductors. "A lot of people are not sure what to make of that because this is the first time in history that it's ever happened where an administration wants a percentage of the profits from a publicly traded company," said Michael Matousek, head trader at U.S. Global Investors Inc. Enabling semiconductor sales to China was an integral issue in the agreement Washington and Beijing signed earlier this year, which expires on Tuesday. U.S. President Donald Trump lauded China's cooperation in talks at a White House news conference earlier on Monday. At 11:59 a.m. ET, the Dow Jones Industrial Average (.DJI), opens new tab fell 91.43 points, or 0.21%, to 44,084.19, the S&P 500 (.SPX), opens new tab gained 6.87 points, or 0.11%, to 6,396.39, and the Nasdaq Composite (.IXIC), opens new tab rose 60.17 points, or 0.28%, to 21,510.19. Six of the 11 major S&P 500 sectors slipped, while healthcare (.SPXHC), opens new tab gained 0.4%, recovering some of the 5% declines it had logged so far this year. Traders took a step back after last week's rally helped the S&P 500 (.SPX), opens new tab and the Nasdaq (.IXIC), opens new tab log their strongest weekly performance in more than a month. On Monday, the tech-heavy Nasdaq was on track for its third consecutive record closing high, if gains hold. Investors expect that the recent shakeup at the U.S. Federal Reserve and signs of labor market weakness could nudge the central bank into adopting a dovish monetary policy stance later this year, fueling much of the optimism. July's consumer inflation report is due on Tuesday and investors currently anticipate that the Fed will lower borrowing costs by about 60 basis points by December, according to data compiled by LSEG. Citigroup and UBS Global Research became the latest brokerages to raise their year-end targets for the benchmark S&P 500. Micron Technology (MU.O), opens new tab raised its forecast for fourth-quarter revenue and adjusted profit, sending its shares rising 3%. Intel (INTC.O), opens new tab was up 5.4% after a report said CEO Lip-Bu Tan was expected to visit the White House. Trump had called for his removal last week. TKO (TKO.N), opens new tab jumped 7.5% after Paramount (PSKY.O), opens new tab bought the rights from the live entertainment company to exclusively distribute UFC events for the next seven years in a deal valued at around $7.7 billion. Trump is expected to meet Russia's President Vladimir Putin on Friday to try and negotiate an end to the war on Ukraine. Declining issues outnumbered advancers by a 1-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 1.05-to-1 ratio on the Nasdaq. The S&P 500 posted 13 new 52-week highs and 14 new lows, while the Nasdaq Composite recorded 60 new highs and 82 new lows.
Reuters
an hour ago
- Reuters
India pushes ahead with US trade talks despite tariff hike to 50%
NEW DELHI/MUMBAI, Aug 11 (Reuters) - India hopes trade talks with the U.S. will continue even as the U.S. hiked tariffs on its exports to 50% due to New Delhi's purchase of sanctioned Russian oil, two lawmakers said on Monday, citing a briefing to a parliamentary panel on foreign affairs. Last week, President Donald Trump imposed an additional 25% tariff on Indian goods due to Delhi's continued purchase of Russian oil, bringing the total duty on Indian exports to the U.S. to 50% - among the highest of any American trading partner. "Our relations with the U.S. are multi-dimensional, and should not be seen only through the prism of trade," one of the lawmakers said, citing the foreign secretary's briefing to the panel. Shashi Tharoor, an opposition Congress party leader, who heads the panel, said trade talks would continue. "As of now, there is no change in the existing plans for the sixth round," he said, referring to a scheduled visit of a U.S. trade delegation to New Delhi from August 25. Earlier, junior finance minister, Pankaj Chaudhary told lawmakers that about 55% of India's merchandise exports to the United States would covered by the new tariff. His estimate factored in the initial 25% levy, he said in a written response to a lawmaker's query. "The Department of Commerce is engaged with all stakeholders" for their assessment of the situation, Chaudhary added. Goods trade between the United States and India - the world's biggest and fifth-largest economies, respectively - was worth about $87 billion in the last fiscal year, according to Indian government estimates. The panel separately voiced concerns over Pakistani army chief Field Marshal Asim Munir's reported remarks on nuclear threats in South Asia during a visit to the U.S. "Nuclear blackmail will not work with India, and no party, or representative disagrees with this view," Tharoor said, adding the external affairs ministry had condemned the comments.
Auto Blog
an hour ago
- Auto Blog
Mercedes CEO Says We Need A Reality Check Over Combustion Bans
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. The Mazda CX-5 has always been the crossover for people who actually like driving. Does the 2025 model still live up to this expectation? Mercedes Is Concerned About Combustion Restrictions Mercedes, like most other automakers, had once committed to going all-electric by the end of this decade, but weak demand for EVs has forced the company to rethink those targets. Now, Mercedes-Benz CEO Ola Källenius said that even Europe's planned 2035 combustion ban is too ambitious, reports Reuters. 'We need a reality check. Otherwise, we are heading at full speed against a wall,' the CEO told German newspaper Handelsblatt, adding that Europe's car market could 'collapse' if the ban is approved after its review later this year. 2025 Audi S3 vs Mercedes-AMG CLA 35: the executive decision Watch More Käallenius Wants A Different Approach Source: Mercedes This comes after Mercedes-AMG revealed plans to develop a new V8 engine that has no defined 'natural end date,' citing customer demand for more combustion-powered products. Regular, non-AMG Mercedes products will also have a gas option for a long time to come. 'Of course, we have to decarbonize, but it has to be done in a technology-neutral way,' Källenius said. 'We must not lose sight of our economy.' This mirrors earlier comments made by the CEO, after he said in June that he believes 'the most rational approach in the current situation is for an established manufacturer to do both [EV and gas] and not neglect one technology.' Porsche has also walked back plans for going all-electric, thanks to weak demand, and like Mercedes, it sees a varied product offering as key to sustained sales. Essentially, Mercedes and other automakers in Europe are happy to continue developing EVs for those who want them, but they believe that while a ban on combustion cars would lead to a sharp rise in sales just before gas cars are outlawed, disaster would soon follow as consumers look to other brands. View post: Mercedes-Benz Confirms EV Pricing Cut Ahead News Mercedes-Benz Confirms EV Pricing Cut Ahead Price drops of up to $15,000 indicate the EQ line might have a pricing problem. Steven Paul Lots To Come From Mercedes Earlier this month, Källenius revealed that Mercedes-Benz intends to launch an onslaught of 18 new vehicles by 2027, with half of them being all-electric and the other half featuring combustion engines of various descriptions. The CEO says this will be 'probably the most intense amount of launches in a three-year period in the history of [Mercedes].' These vehicles will be ready to live until 2035, but it's clear that the company wants to sell them long after that. With the Trump administration reversing the vast majority of CAFE standards fines and nixing tailpipe emissions rules, Mercedes now hopes that a similarly tolerant view of gas power will take hold in Europe, and given the influx of remarkably good yet well priced EVs from China on the Old Continent, it's quite possible that local lawmakers will change their tune on the combustion ban to sustain the European auto industry. Source: Mercedes-Benz About the Author Sebastian Cenizo View Profile
