Stories for February 2016

Saturday, February 6th 2016 - 05:31 UTC
Brazil's inflation at 12-year high in January driven by food and transportation prices

Brazil's inflation rate rose to a 12-year high, officials said on Friday, as Latin America's largest economy continues to struggle through a protracted recession. Driven by rising food prices, the annual inflation rate hit 10.71%, the highest since November 2003 and well beyond the central bank's target ceiling of 6.5%, said national statistics institute IBGE.
Saturday, February 6th 2016 - 05:29 UTC
US promotes major traceability plan for fishery products to combat IUU

The United States National Oceanic and Atmosphereric Administration (NOAA) announced a proposal to implement a traceability plan for fishery products, aimed at combating illegal, unreported and unregulated (IUU) fishing and to prevent fraudulent trade.
Friday, February 5th 2016 - 08:31 UTC
World cereal stocks are set to end 2016 seasons at 642 million tons, higher than they began.

Weather patterns associated with El Niño are sending mixed signals about the early prospects for cereal crops in 2016, especially in the Southern Hemisphere, according to FAO's Cereal Supply and Demand Brief, released on Thursday.
Friday, February 5th 2016 - 08:27 UTC
Recession biting in Brazil: record net savings withdrawals in January

Net savings withdrawals in Brazil rose to a record high in January, with deposit outflows exceeding inflows by 12.03 billion Reais (some $3.09 billion), the Central Bank said Thursday.
Friday, February 5th 2016 - 08:22 UTC
Strong support message from S&Ps for Argentina's economic reforms

Standard & Poor's ratings agency says that Argentina’s new administration has presented a credible plan to deal with long-standing macroeconomic imbalances, eliminated foreign-exchange restrictions, and begun negotiations with its holdout creditors. The outlook on the local currency rating is stable, reflecting the new economic policies of the Administration, but also the potential difficulties in passing and implementing those plans.
Friday, February 5th 2016 - 08:15 UTC
Ushuaia has received 58.000 cruise visitors since 15 September; “Queen Mary” expected next week

An estimated 58,000 cruise visitors have landed in Ushuaia, extreme south of Argentina during the current 2015/16 season which took off last 15 September, according to the Tierra del Fuego Tourism Institute. The largest number was concentrated in January, with an estimated 25.000, and this weekend promises to be equally busy with several vessels calling with 10.000 passengers.
Friday, February 5th 2016 - 08:04 UTC
Falklands: Contractual dispute with rig company raises speculation over drilling program

The Falkland Islands government would not permit anything less than full and proper abandonment of exploration wells drilled by any operator in the Falkland Islands, stated Director of Mineral Resources Stephen Luxton this week, following news of a contractual dispute between Premier Oil and Ocean Rig over the drilling rig Eirik Raude.
Friday, February 5th 2016 - 07:54 UTC
Swiss Syngenta accepts takeover proposal by China Chemical: US$ 43bn cash

Government-owned agrochemical firm China National Chemical announced this week an all-cash proposal to buy Swiss rival Syngenta for $43 billion in a deal expected to improve China's food production.
Friday, February 5th 2016 - 07:46 UTC
Brazil's 'corrupt' government hurting business and agriculture, says Agco CEO

Brazil's “corrupt” government is hurting the country's business sector, including in agriculture, the head of one of the world's biggest tractor-makers said. Martin Richenhagen, chairman and CEO of Agco, manufacturer of Fendt, Massey Ferguson and Valtra machinery, claimed he tried, and failed, to persuade Brazil's government to speed up the payment of agriculture support programs used by farmers for funding equipment purchases.
Friday, February 5th 2016 - 07:41 UTC
Brazil: health workers can enter private properties to crush Zika breeding grounds

Brazilian president Dilma Rousseff implemented a nationwide mandate this week allowing government health workers to enter private properties to crush Zika breeding grounds. Exterminators now have the right to inspect and disinfect households, even without the presence of its owners.