Economy

Economy
Thursday, May 21st 2015 - 06:26 UTC

Cristina Fernandez launches May Revolution week with strong messages

”It is the president who keeps on managing the economy because (economic) decisions always have to be made by the president, for better or worse.”

President Cristina Fernández led on Wednesday a rally in the Buenos Aires City central railway station of Retiro where she praised the renovation of Argentina's railway system in an event that was part of the official celebrations marking a new anniversary of the May Revolution, which in 1810 was the beginning of the country's road to independence.

Wednesday, May 20th 2015 - 05:44 UTC

Beijing to the rescue of sliding Brazil: 53bn dollars in trade, finance and investment

Li and Rousseff announced the Industrial and Commercial Bank of China, will set up a 50bn fund with Caixa Econômica Federal, for infrastructure projects

Beijing has come to the rescue of Brazil's slumping economy with trade, finance and investment deals worth at least 53 billion dollars in energy, mining, aviation and upgrading of dilapidated infrastructure.

Wednesday, May 20th 2015 - 05:11 UTC

Falklands' Isobel Deep well with good prospects of finding oil, say operators

Partners said an Isobel Deep sand interval was penetrated with “suspected elevated formation pressure and oil shows.” (Pic FOGL)

Premier Oil’s high-impact Falklands Isobel Deep well has hit oil shows in a suspected high pressure formation, partners Rockhopper Exploration and Falkland Oil & Gas Ltd., said Tuesday morning. But, the area will now have to be cased, delaying the drilling program.

Wednesday, May 20th 2015 - 05:00 UTC

Argentine inflation for April: official index 1.1%; Congressional index, 2.1%

The Congressional index (2.1%) is closer to that of Buenos Aires City, 2.4%, ruled by opposition presidential hopeful Mauricio Macri

Inflation in Argentina during April reached 2.1% and 29% in the last twelve months according to the latest release from private consultants, an average of which is announced every month as the 'Congressional index' by members from the Lower House Freedom of Expression committee.

Wednesday, May 20th 2015 - 03:52 UTC

Unemployment in Argentina stable at 7.1%, but jobless have stopped looking for work, said Indec

Indec said only 41.4% of the Argentine population have a job, down from 41.8% a year ago and 42.4% in the first quarter of 2011.

Argentina's Indec stats office latest release shows that unemployment was stable in the first quarter, at 7.1% in the yearly comparison, but that is only because some of the jobless have stopped looking for work, as employment rates continued a declining trend which started in 2011.

Tuesday, May 19th 2015 - 07:33 UTC

Chinese PM in Brasilia; Beijing prepared to invest 100bn in transport and energy

PM Li Keqiang will be meeting with President Rousseff Tuesday in Brasilia and sign a raft of agreements before flying to Rio do Janeiro  (Pic Xinhua)

China's Premier Li Keqiang arrived in Brasilia on Monday to sign agreements on infrastructure, energy and aviation that experts say could reach 100 billion dollars. The South American tour also includes Colombia, Peru and Chile and aims to restructure China's resource-driven trade with Latin American countries by including more value-added products.

Tuesday, May 19th 2015 - 07:05 UTC

Falklands celebrates 30th Anniversary of Mount Pleasant Airport opening

 HRH Prince Andrew at the official opening of the airport in 1985.

”The Falkland Islands airport emerges from rock and peat-bog” said The Times in its 11 May edition, the day before the official opening of Mount Pleasant Airport in 1985, thirty years ago last week.

Tuesday, May 19th 2015 - 02:05 UTC

Latam unemployment expected to increase as economic activity weakens

“The labor market situation in 2015 is not expected to be particularly conducive to progress in reducing poverty and inequality” said Alicia Bárcena

The non encouraging economic outlook for the current year will likely prompt a mild increase in the regional unemployment rate to 6.2% from the 6.0% registered in 2014, according to estimates released by the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO).

Saturday, May 16th 2015 - 07:58 UTC

Congress upsets Rousseff: votes to boost pension benefits

Many lawmakers from allied parties, including from Rousseff’s own Workers’ Party, voted for the amendment, highlighting resistance to the austerity push

Brazilian President Dilma Rousseff saw allies and members of her own Workers’ Party challenge her in Congress by voting in favor of boosting pension benefits.

Saturday, May 16th 2015 - 07:46 UTC

Levy tries to convince investors in London that Brazil slowdown is temporary

Levy reiterated that the government is sticking to its primary surplus target of 1.2% of GDP, something the IMF said is crucial to regain investors’ confidence.

Brazilian Finance Minister Joaquim Levy said he expected the country’s economic slowdown to be temporary and that fiscal discipline remained central to ensuring the recovery as a commodity price boom waned. Addressing investors in London, Levy said fiscal discipline was needed to cushion the economy against the inflationary effects of the falling Real currency.

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