Economy

Economy
Saturday, August 22nd 2015 - 08:16 UTC

World markets plunge on fears of a China-led global slowdown

The S&P slumped 5.8% for the week, its biggest weekly percentage decline since September 2011.

The S&P 500 suffered its biggest daily percentage drop in nearly four years and the Dow confirmed it had entered into correction territory as fears of a China-led global slowdown rattled investors around the world.

Saturday, August 22nd 2015 - 02:46 UTC

Falklands' retail price index down to 0.3% in first half on lower fuel and power costs

The lower RPI is mainly as result in decreases in heating fuel, kerosene of (1.04%) and electricity by (0.30%).

The Falklands' Retail Price Index for the quarter ending June 30, 2015 decreased by 0.8%, meaning that the annual Retail Price Index (RPI) as at the end of June was 0.3%, helped by lower prices of fuel and power.

Friday, August 21st 2015 - 07:49 UTC

Merkel calls for a free trade accord between the Europe Union and Mercosur

“We could broaden our trade. We need reliable investment conditions”, said Merkel as she pressed for better access to Brazilian markets

German Chancellor Angela Merkel pressed Brazil's government on Thursday to further open its markets to foreign companies, and said she saw an opportunity to reach a free-trade deal between the European Union and the Mercosur trade bloc. Merkel is on a two-day visit to Brazil with a large delegation of government officials and representatives from German companies.

Friday, August 21st 2015 - 07:41 UTC

Rousseff admits a year of recession because of 'massive economic difficulties”

“The process of falling commodity prices due to adjustment in China will continue to burden the global economy for a long time” said Rousseff

A slump in commodity markets will burden the global economy for some time to come, Brazilian President Dilma Rousseff told Germany's Handelsblatt business daily, adding she hoped the Brazilian economy would pick up in a year.

Friday, August 21st 2015 - 07:08 UTC

Falklands anticipate a busy cruise season with the return of Norwegian Line

The Norwegian Sun will make its first visit on December 10 with up to 1,936 passengers on board.

The return of the Norwegian Cruise Line to South America this season with nine planned calls to the Falkland Islands “is a massive boost to our cruise ship industry,” Sulivan Shipping Tourism Coordinator Samantha Marsh told Penguin News this week.

Friday, August 21st 2015 - 06:57 UTC

Brazil's July unemployment up for a seventh straight month

Unemployment has risen without interruption from a record low of 4.3% in December, pushed up by hundreds of thousands of layoffs in manufacturing

Brazil's unemployment rate rose for a seventh straight month in July to the highest in over five years, government data showed on Thursday. The non-seasonally adjusted jobless rate rose in July to 7.5% from 6.9% in June, statistics agency IBGE said.

Friday, August 21st 2015 - 06:34 UTC

Shanghai Composite's 'virus' reaches Western markets

After falling more than 3% on Thursday, China's Shanghai Composite index was down 0.4% at 3,649.07. In Hong Kong, the Hang Seng index dropped 1.8%

Asian stocks saw sharp falls on Friday as mounting concerns over China's slowing economy continued to affect global markets. It follows big falls in US and European markets on Thursday, with the Dow Jones dropping more than 2%.

Thursday, August 20th 2015 - 07:07 UTC

Two lady leaders under fire, meet in Brazil hoping to recover ground

Merkel's and her heavy-weight delegation of seven Ministers and five Secretaries of State arrived in Brasilia late Wednesday following the crucial Greece vote

Chancellor Angela Merkel, Foreign Minister Frank-Walter Steinmeier and several other high-ranking German politicians touched down in Brazil's capital, Brasilia late Wednesday. The German delegation set off on its 12-hour flight immediately after a Bundestag vote approving a new bailout package for Greece.

Thursday, August 20th 2015 - 07:02 UTC

Victory for Rousseff: Senate passes major bill of fiscal austerity plan

The vote puts an end to months of heated debate over the final major piece of legislation in Rousseff's fiscal austerity plan

Brazil's Senate approved a bill to roll back payroll tax breaks on Wednesday that is a key measure in President Dilma Rousseff's efforts to reduce a gaping fiscal deficit and restore confidence in her government's accounts. The Senate voted 45-27 to pass the bill which was received from the lower house with no changes.

Thursday, August 20th 2015 - 06:54 UTC

Volatile Shanghai Composite down again on Thursday despite Beijing's efforts

The negative open comes after the index had seen strong volatility since the beginning of the week.

After days of volatility Chinese equities traded lower once again on Thursday, despite Beijing's efforts to calm markets. The mainland's benchmark Shanghai Composite was 1.3% down to 3,751.48 points.

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