Economy

Brazil And Argentina To Announce Common Currency

The Two South American neighboring countries will announce the use of a joint currency this week. Brazil and Argentina will announce to use a common currency to reduce reliance on the U.S. dollar and to boost trade between the two countries.

China Calls For Oil Trade In Yuan Currency At Gulf Summit

Chinese president, Xi Jinping, is on a 3-day visit to the Middle East which is the first visit since 2016. During Xi’s visit, he called upon its Arab friends that China seeks to purchase oil and gas in yuan, a move that would help Beijing’s goal of internationalizing its currency and decrease the influence of the U.S. dollar on global trade. 

US GDP Records Growth In Q3

The US Economy recorded growth in Q3 of 2022, even though consumer and business spending took a hit from the double threat of continued inflation and higher interest rates