Economy

Economy
Thursday, November 20th 2014 - 04:29 UTC

Fed minutes confirm reveal consensus on ending stimulus program

Most observers expect the Fed will begin raising the rate in the middle of 2015, mostly in an effort to keep inflation in check as the US recovery gathers steam.

Although the US Federal Reserve was worried about turmoil in emerging markets, the central bank reached an easy consensus to end its stimulus program, its latest minutes reveal.

Wednesday, November 19th 2014 - 09:49 UTC

Great future for aquaculture forecasts FAO; record output of 66.5m tons in 2012

Global per capita fish consumption increased from 9.9 kilograms in 1970 to 19.1 kilograms in 2012, although rates vary substantially by and within regions

Fish farming will likely grow more than expected in the coming decade, offering a chance for improved nutrition for millions of people, especially in Asia and Africa, according to a new report, from FAO.

Wednesday, November 19th 2014 - 08:06 UTC

Brazil's economy growth forecast could have reached a positive inflection point

The GDP growth estimate was included in the weekly Central Bank survey of analysts from about 100 private financial institutions

Private sector analysts raised their 2014 growth forecast for Brazil's economy to 0.21% from 0.20% last week, the Central Bank said on Monday. But analysts left their 2015 gross domestic product (GDP) growth estimate unchanged at 0.80%, the Central Bank said. However it is expected the latest forecast could mean the beginning of the end to the sustained several years slide and an inflection point.

Wednesday, November 19th 2014 - 07:44 UTC

Falklands contracts strategic review of Telecommunications provision

We look forward to their advice and professional input as the review takes shape. “This is an important piece of work for the Falklands”, said MLA Rogers

The Falkland Islands Government have announced that Cartesian Ltd have recently been appointed to carry out a strategic review of Telecommunications Provision in the Falklands Islands. Cartesian will be starting work on the review immediately, with the first draft report due on 24th December.

Wednesday, November 19th 2014 - 07:39 UTC

Magallanes region has the most dynamic and fastest growing economy of Chile

Fish farming, coal mining, agriculture remain fundamental for Magallanes economy

Magallanes region in the extreme south of Chile, was the most dynamic of the country's economy during the third quarter of the year according to the latest release from the local stats office, INE. This contrasts with the rest of the fourteen regions of the country of which six, reported negative growth.

Wednesday, November 19th 2014 - 07:19 UTC

Short of dollars, Argentina appeals to China's Yuan to boost reserves

The Argentine Central bank transferred the equivalent of 508 million dollars in pesos to China’s Central Bank in order to receive the same amount in Yuan.

The Argentine Central Bank received this week the second part of a multi-billion dollar currency swap with China’s Central Bank, worth the equivalent of 508 million dollars. The swap allowed Argentina to bolster its foreign reserves, which rose 506 million and closed at 28.785 billion dollars.

Wednesday, November 19th 2014 - 07:12 UTC

Chile grows 0.8% in Q3, and Central bank leaves basic rate unchanged at 3%

Third-quarter results reflect 1.1% increase in personal services, countered by a 2.7% drop in manufacturing and 6.6% decrease in agriculture, the report said.

Chile's economy grew 0.8% in the third quarter compared with the same period in 2013, the worst performance in five years, the Central Bank reported Tuesday. The bank also announced that the basic rate will remain unchanged at 3%.

Tuesday, November 18th 2014 - 11:19 UTC

Bolivia confident Mercosur incorporation process will be ironed out at the next summit

Brazil and Bolivia are waiting for the inaugurations of Rousseff and Morales before sending the protocol for congressional approval

Bolivia trusts that at the coming Mercosur summit in Argentina it can advance in solving the “technical-legal” difficulties that are delaying the country's full membership of the trade and political group. Allegedly one of the main differences rests in neighboring Paraguay and how it would accept Bolivia's incorporation.

Tuesday, November 18th 2014 - 08:22 UTC

Rousseff pledges that Petrobras corruption case “will change the country forever”

The arrests include top executives of companies which had contracts with Petrobras. President Rousseff chaired the board of Petrobras from 2003 to 2010.

Brazil's President Dilma Rousseff said investigations into corruption at the state-owned oil company, Petrobras, could change the country forever. This was the first time she spoke since the arrest on Friday of 23 people suspected of corruption and money-laundering.

Tuesday, November 18th 2014 - 08:13 UTC

Argentina celebrates G20 summit support on sovereign debt restructuring

Kicillof said that the Argentine delegation was “extremely pleased that the issue was included in the final document,” for the first time in the history of the G-20.

The official communiqué of the G20 summit released at the end of the bloc’s meeting in Brisbane, Australia, included a paragraph on sovereign debt restructuring process, as requested by Argentina. Economy Minister Axel Kicillof and Foreign Minister Héctor Timerman celebrated it and described it as ‘historic’.

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