US oil giant Chevron and state-controlled YPF unveiled plans Thursday to spend another 1.6 billion dollars to develop Argentina's Vaca Muerta shale formation for oil and gas projects. The investment comes on top of 1.2 billion Chevron agreed to spend last year for a shale pilot project.
China's exports and imports fell sharply in March, adding to recent indicators pointing to a slowdown in the world's second-largest economy. The country's exports fell by 6.6% in March when compared with the previous year, while imports dropped by 11.3% in the same month, when compared with the same time last year.
United States beef shipments to Japan may drop after the largest Asian buyer inked this week a deal with Australia to begin reducing import tariffs as early as next year, the Japanese agriculture ministry said.
UK interest rates have been held at their record low of 0.5% for another month by the Bank of England. On Thursday the Bank also kept the size of its bond-buying stimulus program unaltered at £375bn. No changes had been expected to either rates or the bond-buying measure, despite recent evidence that the UK economy is continuing to recover.
Brazil’s rate of inflation in March picked up at the quickest pace in 11 years for that month, challenging the central bank’s plan to stop raising interest rates soon and complicating President Dilma Rousseff chances of re-election.
In a strong reply to the IMF report on the Argentine economy forecasting 0.5% expansion in 2014, the administration of President Cristina Fernandez said the multilateral organization suffers of an 'ideological bias' and its recipes only prompted the 'worst social and productive crisis in the history of Argentina'.
Argentina will witness on Thursday a new test of political clout and influence between the administration of Argentine president Cristina Fernandez and dissident organized labor, headed by teamster Hugo Moyano who has called for a national strike, anticipating it will have a resounding massive support and turnout from the Argentine people.
China loaned 102 billion dollars to Latin America between 2005 and 2013, mainly to Venezuela and Argentina, while Mexico seems to be going the same way, according to a release from the Global Economic Governance Initiative which depends from the University of Boston.
Renewable energy's share of world electricity generation continued its steady climb last year despite a 14% drop in investments to 214.4 billion dollars, according to a new report released on Monday and produced by the Frankfurt School-UNEP Collaborating Centre for Climate & Sustainable Energy Finance, the United Nations Environment Program (UNEP) and Bloomberg New Energy Finance.
The International Monetary Fund reported on Monday a steep deceleration of Argentina’s economic activity for 2014, in a context of “high uncertainty”, according to its latest World Economic Outlook released in Washington.