Economy

Economy
Wednesday, May 18th 2016 - 11:32 UTC

US economy good news: inflation reaches 1.1% and housing starts rise 6.6%

Commerce Department figures showed housing starts rose by 6.6% in April to a seasonally adjusted annual pace of 1.17 million units.

US consumer prices rose at their fastest pace in three years in April as energy prices climbed, figures show. The Labor Department's Consumer Price Index rose 0.4% last month, the biggest one-month increase since February 2013.

Wednesday, May 18th 2016 - 10:54 UTC

Chile celebrates best cruise season in seven years

The milestone of the season was the return of Norwegian Cruise Line, with the Norwegian Sun, and 40 calls in Chilean ports and an estimated 100.000 visitors.

Chile reports that this last cruise season (October 2015/April 2016), has been the best in seven years, according to the Southern Cone Ports Corporation, with a 47% increase in the number of vessel calls and 43% in landed passengers, compared to 2014/2015.

Wednesday, May 18th 2016 - 06:01 UTC

Orthodox economist Goldfajn confirmed as Brazil's central bank governor

Ilan Goldfajn, chief economist of Itau Unibanco Holding, will replace Alexandre Tombini as central bank governor. Senate must ratify Goldfajn's appointment.

Brazil's interim government on Tuesday confirmed the lead economist of the country's largest private bank to head the central bank, in a further shift away from the interventionist policies that many blame for deep recession and near double-digit inflation.

Tuesday, May 17th 2016 - 11:00 UTC

Brazil's economy contracts for fifteenth consecutive month

Private economists consulted in the Central Bank's latest weekly survey expects Brazil's GDP to shrink by a further 3.86% this year.

Brazil's economic activity contracted by 1.44% in the first quarter relative to October-December 2015 and 6.27% compared to the same three-month period of 2015, the Central Bank said Friday. The figures come from the Central Bank's Index of Economic Activity, or IBC-Br, an indicator used as a preview of the gross domestic product (GDP) number.

Tuesday, May 17th 2016 - 07:25 UTC

Temer names a woman to head Brazil's giant development bank, BNDES

Maria Silvia Bastos Marques, a career bureaucrat and onetime steel executive who worked on Rio de Janeiro’s Olympics preparations, will head BNDES

Brazil’s interim President Michel Temer will replace the head of the government’s giant development bank with a female economist, following heavy criticism over his appointment of an all-male white cabinet.

Tuesday, May 17th 2016 - 06:23 UTC

Falklands hopeful of improved relations with Argentina, Gilbert House tells BIMR conference

Cherie Clifford, MLA Dr. Barry Elsby meet CPA Secretary General Akbar Khan at the States of Assembly in the island of Jersey

Falkland Islands remains hopeful of improved relations with the new administration of Argentina and cooperation in the many areas of mutual interest such as fisheries and connectivity, but sovereignty of the Falklands is not for negotiation, reads the Gilbert House report to the 46th British Isles and Mediterranean Region Conference, which opened on Sunday in Jersey.

Monday, May 16th 2016 - 21:35 UTC

Urban unemployment in Latin America to increase 7% this year, says ECLAC

After six years without any increase, unemployment started growing in Latin America in 2015, going from 6% in 2014 to 6.5% last year.

Urban unemployment in Latin America will hit 7% this year, growing 0.5 percent point from last year’s 6.5% rate, the International Labour Organization (ILO) and the Economic Commission for Latin America and the Caribbean (ECLAC) said in a joint report — a drop linked to the region’s lower growth.

Monday, May 16th 2016 - 18:56 UTC

The Falklands would be safer after Brexit

UK’s liberation of the Falklands, which strengthened the credibility of British power worldwide for decades, did not benefit at all from membership of the EEC

By Julian Thompson for The Telegraph (*)

As the EU referendum campaign enters its final stages, the Remain camp is resorting to ever more desperate fear tactics to win the argument. The latest – and most ludicrous – proposition is that the future of UK dependent territories will be under threat if we leave. Without EU support, we are told, Argentina would perceive Britain as “weakened” and might invade the Falklands.

Monday, May 16th 2016 - 18:52 UTC

April FAO Food Price Index 10% below a year ago; South America soy prospects less favorable

Maize quotations increased the most, influenced by weaker US dollar and spill over from soaring prices in the vegetable oils complex

The FAO Food Price Index (FFPI) averaged 151.8 points in April 2016, up 1.1 points (0.7 percent) from March, but almost 10 percent below its April 2015 level. A relatively strong rise in vegetable oil quotations coupled with a more modest gain in international prices of cereals more than offset a decline in dairy and sugar prices.

Monday, May 16th 2016 - 18:49 UTC

Venezuelan soldiers steal goats because no food is left in the barracks

The incident was reported by El Nacional on its Sunday edition, with six soldiers detained by local authorities

The situation in Venezuela has become so bad that even soldiers are struggling to support themselves. Over the weekend, six members of the Venezuelan military were detained by local authorities for stealing goats, the Venezuelan newspaper El Nacional reported on Sunday. It said the soldiers confessed to stealing the goats and said they did it to feed themselves, since they had no food left in their barracks.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement