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.
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.
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.
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.
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.
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).
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.
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.
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.
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.