Economy

Economy
Tuesday, May 24th 2016 - 08:05 UTC

Macri's Argentina and Temer's Brazil seal close political and working relationship

Jose Serra, Brazil's new foreign minister shakes hands with Susana Malcorra at the San Martin Palace

Argentina and the new interim government of Brazil sealed this Monday their close relationship when foreign minister Jose Serra in a brief visit to Buenos Aires, his first overseas trip, met privately with President Mauricio Macri. . Earlier in the day the Brazilian official signed a memorandum of understanding for a bilateral mechanism of political coordination with his peer Susana Malcorra.

Tuesday, May 24th 2016 - 05:16 UTC

Meirelles on Tuesday will announce spending cuts to contain a huge fiscal deficit

Speaking in São Paulo Meirelles said the short- and long-term measures will be aimed at helping pull Brazil's economy out of its worst recession in decades.

Brazil's government on Tuesday will announce spending curbs and other measures to reduce its rising debt burden and contain a fiscal deficit as it seeks to regain the confidence of investors, Finance Minister Henrique Meirelles said.

Monday, May 23rd 2016 - 14:29 UTC

Brexit and Bank of Japan easing described as major risks at G7 finance and central banks meeting

The meeting itself saw contentious positions between Japan and the US on the topic of further BOJ easing.

The G7 finance ministers and central bank governors concluded their 2-day meeting in Sendai, Japan on Sunday. The discussion of international event and banking risk has set the stage for issues to be discussed at the larger G7 leaders’ summit starting on the 26th.

Monday, May 23rd 2016 - 09:25 UTC

British Airways direct flights Santiago/London from next January

Santiago will become the airline’s lengthiest long-haul route, taking 14 hours 40 minutes, nearly an hour more than the current longest flight service to Bs As

British Airways is launching the only direct flight between London and Santiago in Chile from January 3, 2017. Santiago will become the airline’s lengthiest long-haul route, taking 14 hours 40 minutes, nearly an hour more than the current longest flight of 13 hours 50 minutes service to Buenos Aires.

Monday, May 23rd 2016 - 09:12 UTC

Gibraltar has benefited from 60m Euros in EU funding

Picardo said “membership of the EU has allowed Gibraltar to access EU funding. This is an advantage for local businesses and also for employment”

On the day that the Chief Minister Fabian Picardo and the Deputy Chief Minister Dr. Joseph Garcia leave for Brussels, the Government of Gibraltar considers that it is important to highlight the fact that Gibraltar stands to receive a total of nearly 60 million Euros in EU funding since the first allocation of such funds was made in 1990. This includes the current program.

Saturday, May 21st 2016 - 08:46 UTC

Malcorra successfully completes negotiations with China and meets on Monday in Buenos Aires with Serra

On Thursday Malcorra met her peer Wang Yi and said projects signed with Beijing were reviewed satisfactorily, and the strategic association was ratified

Argentina's foreign minister Susana Malcorra held another round of talks with high level Chinese officers in Beijing, as part of her official visit to China to promote trade, investment and the special strategic relation between the two countries. But also cut short her visit to other countries to be back in Buenos Aires next Monday in time to meet with her new Brazilian peer, Jose Serra to address the bilateral agenda and Mercosur among other issues.

Friday, May 20th 2016 - 11:16 UTC

Brazil's economic interests will prevail over ideological goals, says new foreign minister

“Diplomacy will return to transparently and firmly reflecting the legitimate values of Brazilian society and the interests of its economy” underlined Serra

The foreign minister for Brazil's new government following the suspension of president Dilma Rousseff said that Brasilia will now pursue economic interests over ideological goals. Jose Serra, nominated by acting president Michel Temer in the wake of Rousseff's suspension for an impeachment trial, signaled that Brazil would no longer be part of the loose left/leaning alliance that exists across several Latin American countries.

Friday, May 20th 2016 - 10:28 UTC

Argentina expected to export 25% fewer soybeans because of the extensive floods

The USDA maintained its export forecast of 11.4 million metric tons, however, despite skepticism from market watchers.

Argentina could export up to 25% fewer soybeans this year than last, analysts said, after severe rains left many fields underwater, damaging oilseed quality. In April, floods inundated key farm areas of Argentina, the world's third-biggest exporter of raw soybeans, prompting the U.S. Department of Agriculture to slash its forecast for soybean output to 56.5 million metric tons this year.

Friday, May 20th 2016 - 10:05 UTC

Macri in the threshold of a major political storm over a possible veto of a labor bill

 The veto of the bill is expected to be announced by Macri on Friday morning at a poultry complex which has received government support to ensure jobs.

Argentine president Mauricio Macri is expected to veto a controversial labor bill which was approved early Thursday after a marathon session in the Lower House of Congress. The bill passed with 147 votes in favor, 3 votes against it and 88 abstentions includes the declaration of the employment emergency during 180 days and a double compensation in the event of layoffs, for a period of six months.

Friday, May 20th 2016 - 06:48 UTC

Argentina reassures China bilateral cooperation remains a priority for the Macri administration

After a meeting with her Chinese counterpart Wang Yi, Argentine Foreign Minister Susana Malcorra said investment projects with China would go ahead.

Argentina on Thursday sought to reassure China that bilateral cooperation remained a priority for its new government amid growing concerns over political changes in the South American country. After a meeting with her Chinese counterpart Wang Yi, Argentine Foreign Minister Susana Malcorra said investment projects with China would go ahead.

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