Current Edition

Current Edition
Friday, February 12th 2016 - 06:55 UTC

Lagarde, as sole candidate, has virtually assured five more years as IMF head

Named to head the IMF in July 2011, Lagarde officially entered her nomination for a second term at the World Economic Forum in Davos, in January this year.

The International Monetary Fund (IMF) has nominated current managing director Christine Lagarde for the second term, IMF Executive Board Dean Aleksei Mozhin said in a statement on Thursday.

Friday, February 12th 2016 - 06:40 UTC

French president's visit to Argentina and Uruguay could include defense deals

Hollande will be visiting Peru, Argentina and Uruguay with a delegation of over a hundred industry and finance leaders

French president Francois Hollande is scheduled to visit Peru, Argentina and Uruguay in the last week of February, and in a display of Gallic diplomacy expects to promote trade, investments and French interests in the region.

Friday, February 12th 2016 - 06:33 UTC

France claims the EC has done ”too little too late to help (struggling) farmers”

Prime Minister Manuel Valls said the Commission had so far “done too little, too late,” in response to a downturn in agricultural markets.

France called on the European Commission to do more to help its struggling livestock industry, seeking to defuse protests that have seen farmers block highways and supermarkets.

Friday, February 12th 2016 - 06:27 UTC

Petrobras faces legal challenges in the billions from international investors

U.S. District Judge Jed Rakoff in Manhattan certified two classes of plaintiffs, saying their claims are similar enough to be pursued as groups.

Brazil’s troubled state oil firm Petrobras faces possible new legal challenges from a coalition of groups representing international investors based in Europe in the US. The financially hobbled and corruption-racked company is being sued over alleged fraud-related losses the investors suffered on its shares and bonds traded outside the Americas.

Friday, February 12th 2016 - 06:21 UTC

Brazil's economic outlook worsens, according to latest central bank survey

The government of president Rousseff expects inflation to end the year within its target range of 4.5%, with a 2 percent band with the top end rate at 6.5%.

Analysts expect Brazil's economy to contract by 3.21% this year, with the outlook worsening from last week, the Central Bank said this week. Seven days ago analysts said they expected Brazil's economy to contract by 3.01% in 2016.

Friday, February 12th 2016 - 06:15 UTC

Falklands' oil industry development continues despite slump in crude prices

”Despite the low oil price environment, the Sea Lion project continues to move forward,” said chief executive Sam Moody.

Rockhopper Exploration flagship project, offshore the Falkland Islands the Sea Lion oil field development, continues to advance despite the recent slump in crude prices.

Friday, February 12th 2016 - 01:51 UTC

Mod funds to design the successor of Royal Navy's Vanguard class submarines

BAE Systems is the industrial lead on the program alongside colleagues from the MoD, Rolls Royce and Babcock working at Barrow-in-Furness, Cumbria.

The United Kingdom Ministry of Defense (MoD) has awarded BAE Systems £201 million to further the design of a successor to the Royal Navy's Vanguard class submarines.

Thursday, February 11th 2016 - 05:57 UTC

Fed warns about uncertainty in China and tightening financial markets

Yellen said there are good reasons to believe the US will stay on a path of moderate growth that will allow the Fed to pursue “gradual” adjustments to monetary policy.

Tightening financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the US economy off track from an otherwise solid course, Federal Reserve Chair Janet Yellen cautioned in a prepared testimony to Congress on Wednesday.

Thursday, February 11th 2016 - 05:45 UTC

ICAO agrees on first binding limits on emissions from the aviation industry

“Carbon emissions from aviation are growing rapidly, with the number of flights worldwide expected to double in the next 15 years,” said Stephane Dujarric

UN Secretary-General Ban Ki-moon welcomed the announcement by the International Civil Aviation Organization (ICAO) proposing the first binding limits on emissions from the aviation industry.

Thursday, February 11th 2016 - 05:40 UTC

Brazil reopens crucial waterway for transporting soy; water was used to generate power

On Monday a barge train passed downstream on the Tiete River through the locks at the Nova Avanhandava hydro-dam for the first time since 2014, the paper said.

Brazil's Tiete-Parana waterway, a key transport corridor for soybeans, corn, cellulose, fertilizer and other agricultural products, has reopened after a 20-month closure due to drought and the use of water for electricity, the Estado de S. Paulo newspaper reported this week.

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