Economy

Economy
Tuesday, December 9th 2014 - 08:52 UTC

“Kicillof's economy post still too big for him, but he has changed a lot in a year”

Mendez said that Kicillof is proving he can be a minister, “but that post is still too big for him, he needs more experience”

The head of the Argentina's powerful manufacturing lobby, UIA, Hector Mendez fired harsh words against Economy Minister Axel Kicillof stressing “his post is still too big for him”, but admitted he 'has advanced' in the last twelve months.

Monday, December 8th 2014 - 11:12 UTC

Dilma Rousseff after quick transition in Finance given the fiscal deterioration

Levy is expected to take over sometime this week and is currently working from the presidential palace

Brazil's new economic team headed by Joaquim Levy is expected to take office sometime in the next few days after the ruling coalition of President Dilma Rousseff finally managed Congress to approve a loosening of this year's budget targets including the crucial primary budget.

Monday, December 8th 2014 - 07:12 UTC

Road ahead for Latin America 'increasingly bumpy' says IMF Lagarde

Commodity prices that lifted the region for more than a decade are now falling and the era of easy financing will soon end, said Lagarde.

Latin America faces a rocky road ahead despite social and economic achievements in recent years, according to the head of the International Monetary Fund Christine Lagarde. Among the achievements in the last two decades and in most nations, Ms Lagarde mentioned low inflation, fiscal discipline, and financial stability.

Monday, December 8th 2014 - 07:04 UTC

Lagarde wishes to continue improving relations with Argentina

“I think our relationship has gotten better, and I want to continue improving it,” Lagarde told reporters in Chile

The head of the International Monetary Fund Christine Lagarde said she wishes to “continue improving” the relationship between the IMF and Argentina, while at the same time focusing on the necessities of the region's third largest economy which is not growing as fast as it should.

Saturday, December 6th 2014 - 08:26 UTC

More jobs for the US economy in November: 241.000 a month this year

US employers have added at least 200,000 jobs for 10 months in a row, the longest period of jobs growth since 1995

The US economy added 321,000 jobs in November, while the unemployment rate stayed at 5.8%, official Labor Department figures showed on Friday. The number of jobs created was well above analysts' forecasts of about 225,000 new jobs in the month.

Saturday, December 6th 2014 - 04:44 UTC

Argentina stats: IMF sees advances, but the issue is a heated debate in Congress

The congressional index is 'irresponsible' and a miniscule group of lawmakers can't attribute themselves the full house representation, said Carmen Bianchi

The International Monetary Fund has expressed conformity with the achievements made by the Argentine government regarding the updating of the country's statistics, and hoped to finish its evaluation in February, Director Christine Lagarde announced during a press conference in Santiago de Chile.

Saturday, December 6th 2014 - 00:30 UTC

Argentina offers advance payment of 2015 maturing bonds to head off speculation

“The aim is to curb speculation, to allow Argentina to follow its debt restructuring path and to provide investors complete certainty” said Kicillof

Argentina's government offered this week to make full early payment on a local dollar-denominated bond to head off speculation that its legal battle with U.S. hedge funds will make it unable to service its debt.

Friday, December 5th 2014 - 07:01 UTC

Falklands interested in training oil industry manpower with support from Trinidad and Tobago

Tony Vieira, Blair Ferguson and Lance Dowrich during a presentation on manpower training in Stanley

Four senior oil industry business and training executives are in the Falkland Islands promoting Trinidad and Tobago’s oil industry training services. Preparing staff for the oil industry is crucial if benefits are to be injected to the local economy in the form of jobs and knowhow.

Friday, December 5th 2014 - 06:50 UTC

Could falling oil prices spark a financial crisis?

Junk-bond debt in energy has reached 210 billion, which is about 16% of the 1.3 trillion dollars junk-bond market

The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. Not only has financing come from company shareholders and traditional banks, but hundreds of billions of dollars have also come from junk-bond investors looking for high returns.

Friday, December 5th 2014 - 06:45 UTC

Bank of England leaves rates unchanged but deflation fears persist

One factor in keeping inflation low has been the 25% fall in the oil price since the summer, which has cut fuel prices at the pump for motorists.

UK interest rates have been held at a record low of 0.5% for another month by the Bank of England. It also decided to maintain its quantitative easing program, designed to stimulate lending in the economy, at the £375bn already spent.

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