Current Edition

Current Edition
Friday, September 23rd 2016 - 11:16 UTC

Petrobras cuts 5-year budget by 25% and will focus on core oil and gas business

Petrobras will focus on the most profitable project in deep waters, CEO Parente said. “Petrobras wants to spend less to produce the same”.

Brazil’s Petrobras announced it will be spending US$74.1 billion over the next five years, 25% reduction on the US$98.4 billion for the previous five years capital expenditure. This is also the company’s lowest five-year budget since 2006.

Friday, September 23rd 2016 - 11:10 UTC

Heavy fire from Obama, if blacks don't turn out to vote, “I will consider it an insult to my legacy”

“There's no such thing as a vote that doesn't matter. It all matters,” Obama told the crowd at the event hosted by the Congressional Black Caucus Foundation.

President Barack Obama, in one of his final presidential addresses to a predominately black audience of Capitol Hill lawmakers and guests, made a plea to his Democratic base: African-Americans must vote en masse in November's presidential contest to help his legacy or he will be personally insulted.

Friday, September 23rd 2016 - 10:55 UTC

An Argentine family to remain above the poverty line needs US$ 820 a month

This is the first time Indec publishes basket estimates since 2013, when ex president Cristina Fernandez ordered no further releases of poverty and indigence estimates.

An Argentine average household made up of a couple with two children 6 and 8 years old needs 12.489 Pesos (approx US$ 820) to remain above the poverty line according to the stats office, Indec estimate for the month of August. The same household will have to pay 5.176 Pesos (approx US$ 340) for the Basic food basket, not to drop to indigence.

Friday, September 23rd 2016 - 09:32 UTC

Argentina's economy further contracts in 2Q; government insists recovery is round the corner

The Argentine economy is showing the first signs of exiting recession, Macri said at a business forum for international investors last week.

Argentina’s recession deepened in the second quarter as President Mauricio Macri’s efforts to implement free-market reform exacerbated an already flagging economy. GDP fell 3.4% from the same period a year earlier, the largest year-on-year contraction in almost two years, the refurbished statistics agency said in a report published on Thursday.

Friday, September 23rd 2016 - 09:28 UTC

Brazilian lawmakers in late night vote fail “to neutralize” Petrobras investigation

Temer distanced himself from the bill sent for debate by coalition party whips, including from his Brazilian Democratic Movement Party (PMDB).

President Michel Temer criticized a surprise move by Brazilian lawmakers, including some members of his party and even a cabinet minister, to wipe the slate clean on illegal donations they allegedly received.

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