Saturday, November 14th 2015 - 11:52 UTC

Argentina needs confidence and positive expectations to attract investment and develop

Argentina can't continue with “a 7% GDP budget deficit, a manipulated exchange rate or a trade deficit, we simply have to be competitive” said Brito

Any country, any economy needs confidence and positive expectations, and that is what is lacking, and has been lacking in Argentina for many years, said Jorge Brito, head of the Association of Argentine banks, who nevertheless warned about the impacts of a 'rough' adjustment on the economy.

Friday, November 13th 2015 - 14:04 UTC

Premier Oil defers project development and exploration spending into 2016

Premier Oil will move into 2016 some spending on projects such as its Sea Lion field in the Falkland Islands.

The successful Falkland Islands' exploration company Premier Oil has cut full-year capital expenditure as the oil producer deferred some project development and exploration spending into 2016, it said on Thursday. Like its peers, Premier Oil has to reduce spending to cope with a halving in oil prices since a peak in June last year that has eaten into revenues.

Friday, November 13th 2015 - 09:23 UTC

Mine disaster: Brazil fines BHP Billiton and Vale; expects companies to pay cleanup costs

Rousseff, who overflew the disaster area said the fines could be followed by penalties from other federal or state agencies.

Brazilian President Dilma Rousseff has slapped preliminary fines worth 250 million Reais ($94 million) against a BHP Billiton-Value owned mine in Minas Gerais state where two dams burst, killing at least seven people.

Friday, November 13th 2015 - 09:10 UTC

Petrobras reports huge 3Q losses: sharp devaluation of the currency blamed

Petrobras posted losses of 3.76 billion Reais (1bn dollars) in the quarter, compared with a loss of 5.3 billion Reais a year earlier.

Brazil's scandal-plagued state oil giant Petrobras on Thursday announced third-quarter losses of about US$ 1 billion, mainly due to the sharp devaluation of the Brazilian currency.Petrobras, mired in a hugely damaging scandal involving bribes and high-level political payoffs, posted losses of 3.76 billion Reais in the quarter, compared with a loss of 5.3 billion Reais a year earlier.

Thursday, November 12th 2015 - 10:04 UTC

Brazil increases soybean forecast output to 102.8m tons for the 2015/16 season

Growers may reap between 101.2 million to 102.8 million metric tons of the oilseed in the 2015-2016 season, Conab said this week.

The Brazilian government increased its forecasts for what’s already expected to be a record season for soybean output and exports as farmers expand the planted area while yield prospects rise on above-average rainfall.

Thursday, November 12th 2015 - 08:29 UTC

Kirchners' ex minister claims poverty in Argentina is similar to that of the 2001/02 crisis

“People are simply fed up; in a democracy you can't have a stats office, Indec,  systematically manipulating percentages”, said Nun a distinguished academic

Argentina's former Secretary of Culture José Nun said that “current poverty” in the country “is similar to that which preceded the 2001/02 crisis”, and underlined that he “would never vote” for the presidential incumbent candidate Daniel Scioli, who was handpicked by outgoing head of state Cristina Fernandez.

Thursday, November 12th 2015 - 08:16 UTC

Brazilian ex-central bank orthodox president is back on stage called by Lula da Silva

Meirelles and Finance Minister Joaquim Levy delivered speeches to business leaders in Brasilia after having lunch together

Brazil's former central bank chief Henrique Meirelles said on Wednesday he was not invited to take over the finance ministry and insisted the government needs to push ahead with unpopular austerity measures to pull the economy out of recession.

Thursday, November 12th 2015 - 08:07 UTC

Petrobras striking workers consider salary offer but insist the company must reverse investment cuts

 At $130 billion, Petrobras' debt is the largest in the oil industry. The strike, which cut output from oil fields and refineries, is also the biggest in 20 years.

Brazil's energy giant Petrobras offered striking workers a 9.54% wage hike on Wednesday in an effort to end a 10-day strike and prevent it from causing further production losses. But union officials said the deal makes almost no concessions on their most important demands. These include calls on Petrobras to reverse investment cuts and block planned assets sales designed to reduce Petrobras' debt.

Wednesday, November 11th 2015 - 07:25 UTC

Argentine agro-business shares booming on presidential candidates' pledges

Both Daniel Scioli and Mauricio Macri have promised that if elected, they will significantly reduce export levies on soy and eliminate those on wheat and corn.

Argentina's agro-business shares are booming in the Buenos Aires stock exchange since 26 October, following the first round of the presidential election, and expectations are even greater on the promises from the two candidates that will be disputing the runoff on 22 November.

Tuesday, November 10th 2015 - 08:00 UTC

China imports drop for twelfth month running: 18.8% in October

Exports dropped 6.9% to $192.4bn, as foreign demand waned. That left China with its highest trade surplus on record at $61.6bn.

China saw imports drop for the twelfth month in a row in October giving further cause for concern over the Chinese economy. Imports by the world's biggest trader of goods fell 18.8% from a year earlier to $130.8bn, a slight improvement on September's 20.4% decline.


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