Economy

Economy
Monday, April 20th 2015 - 06:51 UTC

Brazil tells IMF it's working with Congress to restore fiscal balance and structural change

“The current year is a transition year for the Brazilian economy, when we are committed to a swift reversal of the fiscal situation”, said Joaquim Levy

Brazil is working with Congress on a broad agenda of structural changes to improve the business climate, increase productivity and set price signals correctly to stimulate investment, announced Finance minister Joaquim Levy in his speech to the International Monetary and Financial Committee (IMFC) this weekend.

Monday, April 20th 2015 - 06:42 UTC

Brazilian leading contractor admits paying 36m dollars in bribes to Petrobras officials

Camargo Correa is one of the largest privately owner organizations in Brazil with businesses in several fields, and operations in 21 countries

A vice president of construction company Camargo Correa told Brazilian prosecutors that he paid 36 million dollars in bribes to officials of state-controlled oil company Petrobras, the press reported, citing a document prepared by prosecutors.

Monday, April 20th 2015 - 06:31 UTC

IMF warns “lower growth” becoming a relevant challenge over the medium term

The IMF meetings took place amid growing concerns about Greece, and risks of a stronger dollar and low commodity prices have hit emerging markets

The International Monetary Fund warned in a communiqué that while economic growth in developed countries had strengthened, some emerging nations were being hit by weaker commodity prices and exports.

Monday, April 20th 2015 - 06:24 UTC

China cuts banks' reserve ratio to bolster lending and a weak economy

China's economy grew by 7% in the first quarter of the year, a large figure by Western standards, but the lowest for the country since the 2009 financial crisis

China's central bank is to cut its bank reserve requirement ratio by one percentage point. The People's Bank of China said that the new reserve requirement would take effect from Monday. The aim is to stimulate more lending into the nation's slowing economy.

Monday, April 20th 2015 - 06:20 UTC

March inflation in Argentina ranges from 1.3% to 2.12%

Lawmaker Patricia Bullrich said that Argentina's March inflation is what most countries in the world record in twelve months

Argentine inflation in March reached 2.12% over February accumulating 29.8% in the last twelve months according to the average of private consultants, which every month is released by opposition members in Congress. This is one percentage point higher than the official March rate announced by the Argentine government's discredited stats office, Indec, 1.3%.

Friday, April 17th 2015 - 03:39 UTC

Mercosur must exhaust efforts to advance in trade talks with EU, insists Uruguay

“Many elements such as the free circulation of goods, services and persons is not working” and there is a distortion of the Mercosur founding treaty, said Cancela

Mercosur must exhaust efforts with determination to advance in trade negotiations with the European Union, said Uruguay's Deputy foreign minister Jose Luis Cancela confirming the country's commitment with the block, but also demanding 'sincerity' in addressing the challenges and agreeing on an international insertion strategy.

Friday, April 17th 2015 - 03:16 UTC

World Medical Association supports growing moves for plain tobacco packaging

Dr. Xavier Deau said the WMA strongly supports the proposal for plain packaging, and “deplored the legal moves being taken by the tobacco industry”

The World Medical Association has supported the increasing number of countries planning to introduce plain packaging of tobacco products, including Australia and France. This week it joined the Norwegian Medical Association in supporting proposals to introduce plain packaging in Norway.

Thursday, April 16th 2015 - 08:54 UTC

The 1.1 trillion Euro bond buying program is 'effective' says ECB' president Dragui

Mr Draghi said that the deflation threat to the Euro zone had not gone away: “inflation is expected to remain very low or still negative in the months ahead.”

A protester crashed a press briefing as the European Central Bank (ECB) explained the success of its 1.1 trillion euro bond buying plan. ECB President Mario Draghi said: “There is clear evidence that the monetary policy measures we have put in place are effective.”

Thursday, April 16th 2015 - 08:39 UTC

EU accuses Google of 'cheating competitors' to favor its shopping service

“I am concerned that the company has given an unfair advantage to its own comparison shopping service, in breach of EU antitrust rules,” said Vestager

The European Union accused Google Inc on Wednesday of cheating competitors by distorting Internet search results to favor its shopping service, and launched another antitrust investigation into its Android mobile operating system.

Wednesday, April 15th 2015 - 08:57 UTC

St. Helena prepares for airport opening with boutique hotel and South African airline

A view of Jamestown which expects an economic boost once the airport begins receiving air traffic from South Africa and hopefully an influx of tourists

Two South African companies, Mantis in the hotel business and Comair airline, will be playing a vital role in developing St Helena's economy through increased communications and the tourist industry, once the international airport is opened next February, according to the latest news from the British Overseas Territory in mid South Atlantic.

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