Economy

Economy
Friday, November 21st 2014 - 21:16 UTC

Falklands opens dock facility to support oil industry exploration beginning 2015

Ms. Cunningham is on her second visit to the Falklands, having first visited in March, before the dock “Nobel Frontier” arrived under tow from New Orleans (Pic Houston Ch)

This week Houston based Noble Energy, one of the several oil companies operating in the Falkland Islands made the official opening of the temporary dock facility (TDF) in Stanley, an essential piece for the logistics of the industry which is scheduled to begin another round of exploratory drilling in the first quarter of next year.

Friday, November 21st 2014 - 07:04 UTC

Iran negotiations, OPEC meeting loom for oil markets

“We will witness the sanctions shattering in the coming months,” Rouhani announced to a crowd in Teheran during a political rally

As November draws to a close, there are two major events that could profoundly change the oil markets. With the clock ticking, the 5 permanent members of the UN Security Council plus Germany (P5 plus 1) are negotiating down to the wire with Iran over its nuclear program.

Friday, November 21st 2014 - 06:59 UTC

Potential of US offshore oil and gas, according to American Petroleum Institute

Eastern Gulf of Mexico, the Pacific OCS and the Atlantic OCS are currently almost entirely off-limits to offshore oil and gas development

Two new studies released by the National Ocean Industries Association (NOIA) and the American Petroleum Institute (API) show significant potential added energy and economic benefits to the United States if the Eastern Gulf of Mexico and the Pacific outer continental shelf (OCS) were opened to offshore oil and natural gas development.

Thursday, November 20th 2014 - 04:55 UTC

World largest containership (19.000 TEU) belongs to China and was built in Korea

World largest containership (19.000 TEU) belongs to China and was built in Korea

The world’s largest containership was named at a ceremony held by builder Hyundai Heavy Industries Co., Ltd. (HHI) this week. Named CSCL Globe, it is the first of five 19,000 TEU containerships for China Shipping Container Lines (CSCL), and takes the title of world’s largest containership from Maersk Line’s 18,000 teu Triple E class vessels.

Thursday, November 20th 2014 - 04:29 UTC

Fed minutes confirm reveal consensus on ending stimulus program

Most observers expect the Fed will begin raising the rate in the middle of 2015, mostly in an effort to keep inflation in check as the US recovery gathers steam.

Although the US Federal Reserve was worried about turmoil in emerging markets, the central bank reached an easy consensus to end its stimulus program, its latest minutes reveal.

Wednesday, November 19th 2014 - 09:49 UTC

Great future for aquaculture forecasts FAO; record output of 66.5m tons in 2012

Global per capita fish consumption increased from 9.9 kilograms in 1970 to 19.1 kilograms in 2012, although rates vary substantially by and within regions

Fish farming will likely grow more than expected in the coming decade, offering a chance for improved nutrition for millions of people, especially in Asia and Africa, according to a new report, from FAO.

Wednesday, November 19th 2014 - 08:06 UTC

Brazil's economy growth forecast could have reached a positive inflection point

The GDP growth estimate was included in the weekly Central Bank survey of analysts from about 100 private financial institutions

Private sector analysts raised their 2014 growth forecast for Brazil's economy to 0.21% from 0.20% last week, the Central Bank said on Monday. But analysts left their 2015 gross domestic product (GDP) growth estimate unchanged at 0.80%, the Central Bank said. However it is expected the latest forecast could mean the beginning of the end to the sustained several years slide and an inflection point.

Wednesday, November 19th 2014 - 07:44 UTC

Falklands contracts strategic review of Telecommunications provision

We look forward to their advice and professional input as the review takes shape. “This is an important piece of work for the Falklands”, said MLA Rogers

The Falkland Islands Government have announced that Cartesian Ltd have recently been appointed to carry out a strategic review of Telecommunications Provision in the Falklands Islands. Cartesian will be starting work on the review immediately, with the first draft report due on 24th December.

Wednesday, November 19th 2014 - 07:39 UTC

Magallanes region has the most dynamic and fastest growing economy of Chile

Fish farming, coal mining, agriculture remain fundamental for Magallanes economy

Magallanes region in the extreme south of Chile, was the most dynamic of the country's economy during the third quarter of the year according to the latest release from the local stats office, INE. This contrasts with the rest of the fourteen regions of the country of which six, reported negative growth.

Wednesday, November 19th 2014 - 07:19 UTC

Short of dollars, Argentina appeals to China's Yuan to boost reserves

The Argentine Central bank transferred the equivalent of 508 million dollars in pesos to China’s Central Bank in order to receive the same amount in Yuan.

The Argentine Central Bank received this week the second part of a multi-billion dollar currency swap with China’s Central Bank, worth the equivalent of 508 million dollars. The swap allowed Argentina to bolster its foreign reserves, which rose 506 million and closed at 28.785 billion dollars.

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