Economy

Economy
Friday, June 19th 2015 - 23:58 UTC

Middle East carriers among the top ten 2015 Skytrax World Airline Awards

Qatar Airways took first place followed by Singapore Airlines and Hong Kong-based Cathay Pacific, which claimed the top honors in 2014.

Middle East carriers again outranked US airlines this year in the 2015 Skytrax World Airline Awards. Qatar Airways took the top honor, up from second place in 2014. But the other Gulf airlines from the so-called Middle East Three group, Emirates and Etihad, were not far behind, in fifth and sixth place, respectively.

Friday, June 19th 2015 - 23:51 UTC

Fourteen Caribbean BOTs blacklisted by EU as world's worst tax havens

European Commissioner Moscovici said publishing the list of “non-cooperative jurisdictions” was a decisive step for territories to adopt international standards.

Fourteen Caribbean countries are among 30 territories blacklisted by the European Union (EU) as the world’s worst tax havens. The list published by the EU on Wednesday includes Antigua and Barbuda, Bahamas, Barbados, Belize, Bermuda, Grenada, St. Vincent and the Grenadines, St. Kitts and Nevis, and the British Overseas Territories of Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Montserrat, and the Turks and Caicos Islands.

Thursday, June 18th 2015 - 07:08 UTC

Mercosur/EU hope 'for positive news in third quarter' despite members' domestic problems

Sendic revealed that not only Argentina has 'difficulties' for a Mercosur/EU accord: the same can be said of several European countries

The European Union also has difficulties in completing a draft proposal of goods and services to exchange with Mercosur in the search for a long delayed trade agreement between the two blocks, revealed Uruguayan vice-president Raul Sendic during a report to the Senate on his recent 10/11 June trip to Brussels for the Celac/EU summit. However in “the third quarter of the year there should be positive news”.

Thursday, June 18th 2015 - 06:58 UTC

Fed ready for interest rate hike, but precise timing depends on jobs and inflation

“It would be wrong if we were to provide you a road map,” Fed Chair Janet Yellen said at a news conference after the statement was released.

Citing an improving economy, the Federal Reserve signaled Wednesday it is most probably on track to raise historically low interest rates as early as September, but that rates are likely to climb more gradually than it previously

Wednesday, June 17th 2015 - 05:46 UTC

Stiglitz comes to the rescue of Argentina and Greece on debt restructuring

Stiglitz continues to assert that the US Treasury's belief that sovereign debt restructurings do not need to be under international law is “incredible”.

Nobel Prize-winning economist Joseph Stiglitz has reiterated his support for a wider system of control on international sovereign debt restructuring, citing the examples of Argentina, Greece and Ukraine to back up his assertion that the area needs more supervision to protect those involved.

Wednesday, June 17th 2015 - 05:14 UTC

Tierra del Fuego's May inflation almost three times the official 1% rate

Tierra del Fuego is ruled by Governor Fabiana Ríos a close ally of President Cristina Fernandez.

Tierra del Fuego's Consumer Prices Index, CPI for May was almost three times higher than the Argentine government official index from stats office Indec: 2.7% against 1%. The percentage was provided by Tierra del Fuego's Stats and Census Office, which also shows that in the first five months of the year inflation reached 11.4% and 28% in the last twelve months, well above the 15.3% from Indec.

Wednesday, June 17th 2015 - 04:38 UTC

Falklands have a bright future and Islanders the resolve to face harassment and bullying

Foreign Office Minister Hugo Swire MP delivers his speech

The Falkland Islands have a bright future, not without challenges, or harassment or bullying, but the Islanders will face them with the same strength, tenacity and resolve that helped them through the conflict 33 years ago, said Foreign Office minister Hugo Swire at the annual Falklands' Government Reception in London.

Tuesday, June 16th 2015 - 06:11 UTC

Argentina's May official inflation 1% or half that claimed by private consultants

According to Indec in May Clothing was up 2%; Housing and Basic Services, 1.6%; Education, 1.3%; Home Appliances, Transport, Communications, 1.1%.

Argentina's National Statistics and Census Institute, Indec reported on Monday that the inflation rate for May reached 1%, totaling 15.3% in the last twelve months and 5.7% for the first five months of 2015.

Tuesday, June 16th 2015 - 06:03 UTC

Brazil's auto industry faces plummeting sales and widespread layoffs

At least 6,000 workers in auto factories have been laid off since January, officials say, and another 20,000 put on furlough

Plummeting auto sales in Brazil amid the country's worst economic situation in a decade have battered the industry that makes up one-fourth of the country's industrial gross domestic product and has led to widespread layoffs and mandatory leaves.

Tuesday, June 16th 2015 - 04:47 UTC

Brazil's housing market falling as interest rates rise and the economy slows

Brazil's amazing housing boom appears to be over: house prices in Sao Paulo had soared by 113% (inflation-adjusted) from 2007 to 2013

Brazil's housing market is now declining, amidst subdued economic growth and some civil unrest. In Sao Paulo, house prices dropped 1.2% during the year to Q1 2015, after annual price increases of 0.83% in Q4 2014, 3.29% in Q3 2014, 5.37% in Q2 2014 and 6.71% in Q1 2014

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