Economy

Economy
Wednesday, March 4th 2015 - 06:14 UTC

Brazil's currency at its weakest since September 2004...and sliding

Brazil’s economy is expected to shrink this year, and may have contracted last year as well, while the trade deficit is ballooning

The Brazilian Real reached on Tuesday its weakest level against the dollar in more than 10 years, amid concern the country’s political and economic situation is growing worse.

Tuesday, March 3rd 2015 - 22:37 UTC

Malvinas' 50-Peso bill, an Argentine stunt, says Foreign Office minister

President Cristina Fernandez during the announcement of the new 50-Peso bill which was officially launched in March

Britain derided a new Argentine banknote featuring the disputed Falkland Islands as a stunt on Tuesday and said it had no intention of discussing sovereignty over the archipelago with Buenos Aires.

Tuesday, March 3rd 2015 - 06:34 UTC

Uruguay's economy vulnerabilities: inflation and budget deficit, says IMF report

Above-target inflation leaves little room for a countercyclical monetary policy response

The Uruguayan economy is decelerating gradually after a decade of strong and inclusive growth. Export receipts are growing at a markedly lower clip than a few years ago and domestic demand growth is slowing towards a more sustainable pace. At the same time, inflation remains above the target range and the primary fiscal balance has weakened further in 2014.

Tuesday, March 3rd 2015 - 06:17 UTC

Truckers strike in Brazil still disrupting traffic in several states; soy harvest delayed

The industrial action has slowed down exports of soy beans in the midst of harvest: 600 trucks instead of the usual 3.000 are reaching Paranagua.

Striking truck drivers resumed some roadblocks in Brazil on Monday even as the government cracked down on protesters and promised to implement a law to lower toll costs and give other benefits to the transport sector.

Tuesday, March 3rd 2015 - 05:45 UTC

London Heathrow and Star Alliance win the World's Airport of the Year award

The award is one of the first bestowed on the new Terminal 2/the Queen’s Terminal which opened on June 4th, 2014

London Heathrow and Star Alliance have won the World’s Airport of the Year at Air Transport World’s (ATW) 41st Annual Airline Industry Achievement Awards, honored jointly for their collaborative work on the new Terminal 2 at Heathrow.

Monday, March 2nd 2015 - 06:21 UTC

Germany sells five-year notes in Euros at a negative yield of -0.08%

By buying bonds with a negative yield, investors are essentially prepared to pay Germany for the right to hold its debt if they retain those bonds until maturity.

The German government sold five-year notes at a negative yield for the first time in its history on Wednesday. The milestone comes as the European Central Bank prepares to begin a bond-buying program, known as quantitative easing, in hopes of stimulating growth in economies across the Continent.

Monday, March 2nd 2015 - 06:17 UTC

Argentina's economic activity up 0.6% in December; industrial production down in January

The December activity hike is explained by an increasing internal demand boosted by payment plans and tourism, said the Indec release.

Argentina's economic activity index, EMAE, increased 0.6% in December 2014, compared to the same month of 2013, according to the country's Indec stats office latest release. This marks the third consecutive monthly growth, after previous negative results.

Monday, March 2nd 2015 - 05:58 UTC

US economy slowdowns in last quarter, but for Wall Street it remains strong

The slowdown in growth from the third quarter was caused by a rise in imports and a downturn in government spending

The slowdown in the US economy at the end of last year was more pronounced than previously thought, official figures have shown. The world's largest economy grew at an annual pace of 2.2% between October and December, against a previous estimate of 2.6%, the Commerce Department said.

Monday, March 2nd 2015 - 05:22 UTC

Argentine bond prices going up “as the less time you have left in office”

Cristina Fernandez made a reference to Argentine bonds that backfired

Joseph Cotterill, the Financial Times journalist who was quoted by Argentine President Cristina Fernández during her Congress address as proof the country has recovered financially, responded critically to the Head of State.

Sunday, March 1st 2015 - 22:03 UTC

Brazil consumers' power bills increase an average 23.4% as of next Monday

The rate hike is geared to cover the estimated 22.1 billion Real (7.77 billion dollars) cost of a subsidy program, the government no longer will finance

Brazil's utilities were granted an average special rate hike of 23.4% to cover the costs of a energy subsidy program that the government of President Dilma Rousseff has decided to stop funding directly, the country's electrical energy system regulator said on Friday, as reported by Folha de Sao Paulo.

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