Economy

Economy
Thursday, December 18th 2014 - 21:00 UTC

Brazil's trade balance to benefit from oil price drop

Brazil's Central Bank President Alexandre Tombini sees the good part of oil price fall.

Central Bank President Alexandre Tombini sees the bright side of the international trend that is causing many others a headache, because the country is a net petroleum importer.

Wednesday, December 17th 2014 - 13:19 UTC

Brazilian economy remains flat with similar forecast for 2015

Private sector analysts surveyed by the Brazilian Central Bank on a weekly basis, cut their growth forecasts for this year and next year.

Brazil's economy contracted 0.26% in October, ending a three-month growth streak and coming in below analysts' expectations of a 0.30% expansion, reported the Central Bank.

Wednesday, December 17th 2014 - 13:11 UTC

US Court of Appeals will hear Argentine case on assets disclosure

Argentina attorneys have filed an appeal against Griesa’s ruling asking local banks for information on Argentina’s assets, which is known as “discovery.”

US Court of Appeals for the Second Circuit in Manhattan this Wednesday morning will hear Argentina’s appeal against US Judge Thomas Griesa’s order to Argentine banks to provide information on the state’s assets.

Wednesday, December 17th 2014 - 12:59 UTC

Uruguay receives IDB credit to boost investment in renewable energies

A common sight in top hills of Uruguay, a display of wind turbines

As part of Uruguay long term plan to promote investment in infrastructure and finance investment in electric power plants using renewable energy resources, essentially wind and solar so as to diversify the country energy mix and cut CO2 emissions, the country will be receiving a 250 million dollar credit line from the Inter American Development Bank, IDB.

Wednesday, December 17th 2014 - 12:40 UTC

FAO forecasts record world cereal production buoyed by bumper crops in Europe and US

However 38 countries are at risk of food insecurity, including 29 in Africa, 3 more  than reported in October.

Latest indications confirm that world cereal production will reach an all-time record of more than 2.5 billion tonnes in 2014. Buoyed by bumper crops in Europe and a record maize output in the United States this year's cereal output should reach 2.532 billion tonnes, including rice in milled terms, or 0.3% higher than 2013, according to FAO's latest Crop Prospects and Food Situation Report.

Wednesday, December 17th 2014 - 12:22 UTC

Latin America exports stagnant for third year running, says IDB

Brazil, Argentina, Peru and Venezuela were the worst performers because of the fall in commodity prices

Exports from Latin America will drop by about 1.4% in 2014, the first decline in exports since the collapse of international commerce during the 2009 financial crisis, according to a study by the Inter-American Development Bank (IDB).

Wednesday, December 17th 2014 - 00:53 UTC

Brazil's real sinks against US dollar to lowest rate in 10 years

Brazil's currency slips to 2.76 against 1 US dollar

The currency closed at R$ 2.76 per US$ 1 dollar. Domestic politics, international oil prices, US Fed measures and Russian ruble drop to blame.

Saturday, December 13th 2014 - 04:37 UTC

Brazil confident since pre-salt oil is profitable 'even at 60 dollars a barrel'

“I don't know of any pre-salt project that cannot resist the 70 dollar or even the 60 dollar mark” said Ms Chambriard

The head of Brazil's National Petroleum Agency, Magda Chambriard said that the country's oil production projects remain 'robust' even as international prices for crude continue to tumble. She underlined that the pre-salt projects of Brazil along ist coast resist prices as low as 60 dollars a barrel.

Saturday, December 13th 2014 - 04:07 UTC

Argentina purchases four Russian multipurpose polar Supply-class tugs

A Neftegaz tug under operations in Russia, similar to the ones presumably purchased by Argentina

Argentina's ministry of Defense has signed an agreement for the purchase of four Russian-built multipurpose polar tugs, class NEFTEGAZ, at a total cost of just over eight million dollars.

Friday, December 12th 2014 - 21:49 UTC

Dutch oil platform leasing company cutting 11% of global workforce

“Although we regret losing some of our colleagues, we believe these steps are necessary to deliver value to our stakeholders”, CEO Bruno Chabas said

Dutch oil platform leasing company SBM Offshore is cutting 1,200 jobs, or slightly more than 11% of its global workforce, as part of a cost-saving program.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement