Wednesday, November 25th 2015 - 08:33 UTC

Commodities prices hovering at 13-year lows; metals suffered the most

Grains from soybeans to wheat and corn also rose on better physical demand and technical buying, limiting the downside in commodities.

Commodities hit 13-year lows on Monday as metals markets crashed but a steady close in oil and higher grains markets helped a key sector benchmark settle off the day's trough. Copper and nickel prices fell to multi-year lows, forcing the Thomson Reuters/Core Commodity CRB Index to its lowest levels since November 2002.

Wednesday, November 25th 2015 - 08:22 UTC

Mercosur ready to begin political negotiations for the trade agreement with the European Union

“Mercosur transmitted in Brussels its political decision to begin those negotiations. The ball in now in the EU court”, said Loizaga

Mercosur is only waiting for the European Union to begin the political negotiations on the long delayed overall trade agreement, announced Paraguay's foreign minister Eladio Loizaga in Asunción, just back from Brussels where he met with EU and Belgian officials.

Wednesday, November 25th 2015 - 00:02 UTC

Falklands' oil industry re-spuds Isobel Deep reservoir

The well is located on licence PL004a, in which FOGL has a 40% working interest, and lies approx 4 km away from the 14/20-1 Isobel Deep oil discovery

Falkland Oil and Gas Limited, FOGL, one of several international companies involved in the Falklands' oil industry, announced on Monday that the 14/20 Isobel 2 well was spudded by Premier Oil as operator on Saturday, 21 November.

Tuesday, November 24th 2015 - 14:53 UTC

Summit of gas exporting countries opened in Tehran with nine leaders attending

Presidents of Iran, Russia, Venezuela, Iraq, Bolivia, Equatorial Guinea, Nigeria, Turkmenistan are currently in Teheran

A landmark summit of the Gas Exporting Countries Forum (GECF) has opened in the Iranian capital Tehran with the participation of the heads of nine member states. Presidents of Iran, Russia, Venezuela, Iraq, Bolivia, Equatorial Guinea, Nigeria, Turkmenistan as well as the Algerian prime minister are the key participants.

Tuesday, November 24th 2015 - 12:21 UTC

Macri will announce his economic team and measures once he has access to official data

Macri claimed that “we still are not aware and have not been told what are the reserves of the Central bank”.

In his first press conference as Argentine president-elect, Mauricio Macri announced on Monday he would not have a Secretary of Economy but rather an economic cabinet with six members, and anticipated that the team that will be taking office with him, as well as those in the province of Buenos Aires, “will include many officials which do not come from the political system”.

Monday, November 23rd 2015 - 10:42 UTC

Unfair to claim China sparked a 'currency war', argues India's central bank

It’s unfair to blame the Yuan devaluation, currencies were already declining due to “unconventional monetary policies” of some nations, said Raghuram Rajan

”It’s unfair to pin the blame on the August 11 Yuan devaluation because currencies were already declining due to the “unconventional monetary policies” of some nations, Raghuram Rajan was cited as saying in an interview with the SCMP.

Monday, November 23rd 2015 - 09:39 UTC

China's Yuan to be included in IMF's SDR basket of currencies

President Xi Jinping welcomed consensus that inclusion would increase the representation of the SDR and improve the international monetary system

The inclusion of the Chinese currency in the International Monetary Fund's special drawing rights (SDR) basket is long awaited, long overdue and, finally, all but a foregone conclusion.

Monday, November 23rd 2015 - 08:46 UTC

China cracks on 'underground banks' to combat corruption and capital outflows

More than 370 people have been arrested or face lawsuits or other punishment in the case centered in eastern Zhejiang province, the People’s Daily reported

China said it cracked the nation’s biggest “underground bank,” which handled 410 billion Yuan (USD64 billion) of illegal foreign-exchange transactions, as the authorities try to combat corruption and rein in capital outflows that have hit records this year.

Monday, November 23rd 2015 - 08:42 UTC

Brazil job losses accelerated during October; 1.4 million in twelve months

Companies cut staff across business sectors and regions. Manufacturing, construction and services firms laid off nearly 50,000 workers in each sector

Job losses in Brazil accelerated in October to the fastest pace so far this year as the country's political and economic crisis continues to worsen. Brazil's economy lost a net 169,131 payroll jobs in October, the Labor Ministry reported, up from 95,602 layoffs in September.

Monday, November 23rd 2015 - 08:16 UTC

Worst effects of European recession risk becoming permanent

The official unemployment rate for the 28 countries in the EU was 9.3% in September, down from 9.4% the previous month.

The worst effects of the European recession risk becoming permanent in places, according to a left-leaning think tank. The IPPR's latest report pointed to the high level of unemployment and underemployment across Europe and said the chances of these becoming entrenched is “deeply alarming”. It said there was 10% unemployment and a 5% underemployment rate in Europe.


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