Economy

Economy
Monday, July 25th 2016 - 10:51 UTC

Argentina considering phasing out Patagonian ports' fisheries exports

“I imagine that in the next thirty days we will have some announcement on the issue, it will be a gradual phasing out”, said Metz.

The Argentine government is considering phasing out the incentives which benefit Patagonian ports fisheries exports. The announcement was made by Jorge Metz, Ports Under Secretary during a recent visit to Bahía Blanca although pointing out the issue was still under consideration by the cabinet chief office, but some advances would be made public in a month's time.

Thursday, July 21st 2016 - 08:07 UTC

PM May announces in Germany negotiations for an “orderly departure” from EU this year

PM May said UK was in no rush to trigger the exit process, which  although “this would not please everyone” it was right to hold off until the UK “objectives were clear”.

Prime Minister Theresa May has said the UK will not begin official negotiations on leaving the EU this year as she held talks with Germany's Chancellor Angela Merkel. Speaking in Berlin on Wednesday, the PM said securing a “sensible and orderly departure” from the EU would take time, but she insisted the UK would not “walk away” from Europe and wanted to retain the “closest economic links”.

Thursday, July 21st 2016 - 07:29 UTC

Brazil leaves rate unchanged at 14.25%; stubborn inflation despite recession

The bank's new governor Ilan Goldfajn, who took office in June, warned of lingering risks to reaching that goal, including the persistently high inflation

Brazil's central bank, with its recently appointed president, kept interest rates on hold for the eighth consecutive meeting on Wednesday as expected, despite a deep recession, as the new board cited concern about stubbornly high inflation and uncertainty surrounding economic reforms.

Wednesday, July 20th 2016 - 06:29 UTC

Falkland Islands Government appoints Canadian Head of Policy

Ms Simovic said she, “is excited to be starting a new chapter in the Falkland Islands and honoured to have the opportunity to serve the community.”

Diane Simsovic has been announced as the new Head of Policy for the Falkland Islands Government. Simsovic is Canadian and has more than 35 years’ experience in the private and public sectors, with a background working at municipal, provincial and federal levels of Government, primarily focussing on economic development and growth. Ms Simsovic has also previously worked in environmental engineering and management consultancy.

Wednesday, July 20th 2016 - 05:25 UTC

Falklands must be involved in a tripartite dialogue, if Argentina's new policy is to be positive

“If you are willing to integrate the point of view of Falklanders, if they are part of any discussions relative to their lives and future, then this is positive”, said Picardo.

Argentina's collaboration strategy towards the UK and the Falkland Islands, if it means integrating the Islanders in any discussions relative to their lives and future, which is only of their concern, “this is positive”, according to Gibraltar Chief Minister Fabian Picardo, interviewed by Argentina's official news agency Telam.

Wednesday, July 20th 2016 - 03:56 UTC

Theresa May begins tour of European capitals: Wednesday with Merkel, Thursday with Hollande

Mrs. May said maintaining strong trading links in Europe was vital to ensuring the UK “made a success” of Brexit.

British Prime Minister Theresa May on Wednesday will take off for her first tour of European capitals visiting Germany and France where she anticipated discussions about the UK leaving the EU must be “frank and open”. The prime minister will have a working dinner with Germany's Angela Merkel on Wednesday before talks with France's Francois Hollande on Thursday.

Tuesday, July 19th 2016 - 06:40 UTC

Uruguay could compete for another pulp mill, if it develops logistics infrastructure

Another state-of-art pulp mill in Uruguay is possible if the logistics infrastructure is rebuilt to support large scale export-oriented businesses, said Jaakko Sarantola

Finland´s UPM pulp conglomerate which already has a plant in Uruguay announced it will commence discussions with the Uruguayan government on the development of logistics infrastructure for a possible mounting of another mill. Discussions will include railroad and roads, which currently are a critical challenge to establish large scale industrial operation in the Uruguayan inland and to connect it to a deep sea port.

Tuesday, July 19th 2016 - 05:40 UTC

CEO denies plan to privatize Petrobras: 'Brazilian society not mature enough to discuss the issue'

“I want to leave my opinion very clear, I don't believe Brazilian society is mature enough to even discuss privatization”, said CEO Parente

The Brazilian government has no plans to privatize state-run oil company Petrobras and is still deciding whether to sell its controlling share in several units to shore up its finances, the company's Chief Executive Officer Pedro Parente said in an interview with a local newspaper published on Monday.

Friday, July 15th 2016 - 06:57 UTC

Bank of England leaves interest rates unchanged until it has the full picture

The bank's non-move was somewhat a surprise: most economists had expected it to cut its main interest rate from the record low of 0.5% to shore up the economy

Bank of England kept interest rates on hold and refrained from injecting more money into the British economy Thursday, despite some clear evidence of the initial economic damage caused by the country's decision last month to leave the European Union.

Friday, July 15th 2016 - 06:35 UTC

Oil company pledges US$ 1.4bn in investments in Argentine Patagonia

PAE has pledged to invest US$ 900 million in Chubut US$ 300 million in Neuquen and US$ 70 million in Tierra del Fuego

Pan American Energy PAE, announced on Thursday investments of 1.4bn dollars in exploration and exploitation of conventional and non conventional hydrocarbons in the Argentine Patagonia provinces of Neuquen, Chubut and Tierra del Fuego.

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