Economy

Economy
Thursday, September 15th 2016 - 20:54 UTC

Falklands' Development Corporation partners with horticultural specialists to expand commercial opportunities

  The Market Garden in Stanley currently provides fruit and vegetables to both locals and visiting boats, but still has to import goods not grown locally.

The Falkland Islands Development Corporation (FIDC) announced that three UK horticultural specialists will visit the Falklands next month in order to appraise the potential for future horticultural developments. The three consultants will be the Islands for a week and will hope to identify profitable, commercial opportunities for Falkland businesses.

Thursday, September 15th 2016 - 10:34 UTC

Falklands' Sea Lion oil project break-even price reduced to US$ 45 a barrel

CEO David McManus said Rockhopper continues to make very good progress in advancing the Sea Lion development, reducing costs and the break-even oil price

Falkland Islands oil explorer Rockhopper Exploration Plc has confirmed cost cuts at its Sea Lion project, which will reduce the scheme´s break-even price to US$ 45 a barrel. Capital investment at Sea Lion to reach first oil is now estimated at US$ 1.5bn.

Thursday, September 15th 2016 - 10:30 UTC

Bayer and Monsanto confirm merger in a $66bnm mega-deal; activists ready to protest

Bayer said it will spearhead the mega all-cash buyout in history in hopes of taking over Monsanto, world’s largest supplier of genetically modified seeds.

Seed and chemical giants Bayer and Monsanto said on Wednesday that they will merge to become one of the world’s biggest agriculture giants, a 66 billion-dollar mega-deal that could reshape the future of farming and enhance their influence over the planet’s food supply.

Thursday, September 15th 2016 - 10:23 UTC

“After 15 years we are open for business” in Argentina announces US Ex-Im bank

“We're willing to finance all possible export import projects, and at the lowest possible rates to support Argentina in its new process”, Hochberg said

The United States Export-Import Bank said it would begin offering financing in Argentina for the first time since the country's economic meltdown in 2001 and 2002. In previous decades the bank provided low-rate loans to support local investment, including the construction of one of the main highways leading into this city.

Thursday, September 15th 2016 - 10:18 UTC

Siemens pledges to invest US$ 5.6bn in energy and infrastructure in Argentina

“I'm a happy man because we can help rebuild the country,” Kaeser said, adding that if others don't act fast they may lose out on big opportunities in Argentina

German industrial conglomerate Siemens AG signed a letter of intent on Wednesday to participate in up to US$5.6 billion of energy, transportation and infrastructure projects in Argentina, Chief Executive Joe Kaeser said.

Thursday, September 15th 2016 - 09:57 UTC

BP “really encouraged” by Argentina, interested in increasing investments

“I am really encouraged by what I hear and what I see, so I think there's a lot of future here,” BP CEO Dudley said

British Petroleum is looking to increase its investments in Argentina after seeing “tremendous change” in the country since President Mauricio Macri took office nine months ago, CEO Bob Dudley said on “Bloomberg Markets” this week. Argentina just “feels different,” Dudley told Bloomberg's Erik Schatzker at the inaugural Argentina Business Investment Forum in Buenos Aires.

Wednesday, September 14th 2016 - 21:02 UTC

Falklands mine clearance project receives a new £20m UK commitment

MLA Mike Poole said UK commitment's to clear the Islands of mines is ”a welcome move and we remain willing to assist practically and logistically where we can.”

The Falkland Islands Government, FIG, and Falkland Islanders have welcomed the announcement of a new £20m landmine clearance commitment by the UK which will make safe dozens of areas which have been unusable for residents and visitors. The project financed by the Foreign Office and Ministry of Defense will clear 46 minefields over the next two years and prepare for clearance another 27. So far more than 30 minefields have been cleared in the Falklands in recent years and this is in line with the UK obligations under the Ottawa Treaty.

Wednesday, September 14th 2016 - 18:35 UTC

Falklands welcomes UK/Argentina future cooperation agreement, which leaves sovereignty discussions out

FIG will be represented at any future discussions on the above matters. Sovereignty of the Falkland Islands will not be part of these discussions.

The Falkland Islands Government (FIG) welcomed the UK/Argentina future cooperation agreement to remove all obstacles limiting the economic growth and development of the Falkland Islands and points out it will be represented at future discussions on these matters, the removal of sanctions on hydrocarbons, fisheries, shipping and tourism, and underlines that “sovereignty of the Falkland Islands will not be part of these discussions”.

Wednesday, September 14th 2016 - 13:18 UTC

Canada's Agrium and Potash create fertilizer and farm retailing giant

Potash Corp is the world's biggest crop nutrient company by capacity and Agrium, North America's largest farm retailer

Canada's Agrium and Potash Corp. of Saskatchewan said they would combine, a deal that would create a fertilizer and farm retailing giant with pro-forma enterprise value of US$36 billion but also trigger U.S. regulatory scrutiny.

Tuesday, September 13th 2016 - 19:56 UTC

Brazil launches ambitious program to auction off oil, power and infrastructure concessions

Temer's administration is selling assets and pushing for unpopular austerity reforms to prop fiscal accounts that has cost Brazil its investment-grade rating.

Brazil on Tuesday launched a multibillion-dollar plan to auction off oil, power rights and infrastructure concessions, in an attempt by the new government to bolster private investment in a moribund economy. The government will sell operating licenses for airports in the cities of Porto Alegre, Salvador, Florianopolis and Fortaleza by the first quarter of 2017. It also plans to sell rights to operate federal roads in the center-west and south regions later next year.

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