Economy

Economy
Thursday, August 11th 2016 - 12:57 UTC

Brazil running out of corn allows imports to supply pork and poultry sectors

Agriculture minister Blairo Maggi said he is committed to meeting the requests of the industry and wants to ensure the supply of grain in the country

A lower-than-anticipated domestic corn supply is pushing prices up, putting pressure on Brazil’s pork and poultry sectors, and forcing the government to intervene, the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) said in its latest report.

Thursday, August 11th 2016 - 06:28 UTC

Bachelet forced to introduce reforms to Chile's private pension system

“Too many people receive too low pensions and are left to their own luck,” said Bachelet. “Pensions are a right and they must be shared responsibility.”

Under pressure from the public, Chile’s President Michelle Bachelet proposed changes to the most radical of all the economic reforms of former dictator Augusto Pinochet — the private pension system that inspired a wave of similar projects worldwide.

Thursday, August 11th 2016 - 06:14 UTC

Pacific Alliance members invite Uruguay to sign free trade agreements

Uruguay has been invited by Colombia and Peru to conform a free trade area and update and improve the current treaty with Mexico, Nin Novoa revealed

Uruguay, a founding member of Mercosur has been invited by Pacific Alliance members Colombia and Peru to update and expand commercial agreements with the two countries and turn them into a free trade treaty, foreign minister Rodolfo Nin Novoa revealed during a hearing in Congress to analyze the current situation in Mercosur.

Wednesday, August 10th 2016 - 05:42 UTC

Stress tests expose weakness of EU banks, particularly Deutsche Bank

 “European banks lack sufficient capital to offset the losses expected in the case of another financial crisis,” the ZEW said in a statement on Tuesday.

Germany's Deutsche Bank had the highest potential capital shortfall, 19 billion Euros in a study of 51 European banks using U.S. Federal Reserve stress test methods, German economic research institute ZEW said.

Wednesday, August 10th 2016 - 05:33 UTC

Punta Arenas airport plans to double passengers' terminal area and commercial aircraft capacity

Arrival of passengers at Punta Arenas airport has experienced a sustained increase averaging 9.5% between 1995 and 2015, when it reached 900.000 people.

Punta Arenas airport is planning to double the area of the passengers' terminal and increase the number of jet bridges from three to five, as part of a major expansion program given the increase in annual commercial traffic at the President Carlos Ibañez del Campo Airport, which has been double the Chilean average.

Wednesday, August 10th 2016 - 03:54 UTC

Falklands 2014 and 2015 business climate surveys “very good”, but 2016 prospects aren't so rosy

The Business Climate Survey is undertaken by the Falklands Islands Development Corporation, FIDC, with support from the Falklands Chamber of Commerce

The Falklands Business Climate Survey strongly suggests that 2014 and 2015 were two very good years for the Islands economy and its business community, which translated in profits and higher levels of turnover, particularly 2015. However survey respondents predictions for this year and onwards aren't as rosy with many businesses anticipating lower turnover and investments, but not necessarily profits, while the overall average rating for the Islands' economy weighed between “average” and “good”.

Wednesday, August 10th 2016 - 03:49 UTC

UK with a Great Pavilion will be present at Uruguay's main agriculture show

One of the highlights of this year will be the focus on agricultural technology with a series of lectures by British and Uruguayan experts.

With just a month to go until Uruguay's main agro show, Expo Prado, the British Embassy in Montevideo announces that for the third consecutive year it will be present with a Great Pavilion focused on business, education, culture, tourism, gastronomy and entertainment. British brands such as JCB Machinery, Polo Club clothing, FCR-DAS who specialise in quality management certification, fire extinguishers from Noblex, Brompton and other bicycles courtesy of Muvin will all be taking part.

Tuesday, August 9th 2016 - 08:51 UTC

China's foreign trade further declines in July: imports down by 12.5%

China is a crucial driver of the worldwide economy and the data is seen as a snapshot of the global outlook.

Chinese exports have seen a further decline in July, adding to concerns over the global economic outlook. Exports fell by 4.4% compared to a year earlier, which was a slight improvement over June's 4.8% drop but still worse than analysts had been expecting. And imports were also weaker than estimated, down by 12.5%.

Monday, August 8th 2016 - 11:00 UTC

Argentines continue to support Macri despite disappointment with the economy

 The survey paints a complex picture of citizens split by support for the Macri government and disappointment at the economic situation.

Most Argentines are pessimistic about the country’s economic situation, but they are continuing to stand by Let’s Change (Cambiemos) leader President Mauricio Macri, a new poll by the San Andrés University (UdeSA) has found.

Monday, August 8th 2016 - 10:49 UTC

US economy adds 255.000 jobs in July: unemployment remains at 4.9%

The largest growth in US employment - some 70,000 new jobs - came from professional and business sectors, in particular computing.

The US economy added a stronger-than-expected 255,000 jobs in July, fuelling speculation that interest rates could rise before the end of the year. The figure was below June's upwardly revised figure of 292,000 jobs, but was far higher than analysts' forecasts of between 175,000 and 180,000. However US unemployment rate remained unchanged at 4.9%.

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