Economy

Economy
Friday, December 5th 2014 - 06:19 UTC

Latin America 'unfortunately' has a very low participation in global trade

Rodriguez said that “south-south” trade had increased from less that 5% in 1990 to almost 18% last year, on the back of the integration process

Latin America 'unfortunately' has a very low participation in world trade which is a major challenge for the region, according to Gonzalo Rodriguez, member of Mercosur technical staff, who was one of several speakers at the preamble of Unasur summit.

Friday, December 5th 2014 - 06:14 UTC

ECB steps up plans for more stimulus measures to revitalize Euro-economy

ECB staff “have stepped up the technical preparations for further measures, which could, if needed, be implemented in a timely manner,” said Draghi

The European Central Bank (ECB) has “stepped up” plans for more stimulus measures aimed at revitalizing the Euro-zone economy, bank president Mario Draghi said on Thursday. His comments came after the ECB held interest rates at 0.05%.

Thursday, December 4th 2014 - 06:06 UTC

Ecuador to combat IUU fishing as part of trade agreement with the EU

EU is the main market for Ecuadorian tuna, accounting for 65% of exports. The country is also the leading supplier of canned and pre-cooked tuna.

Ecuador's Deputy Minister of Aquaculture and Fisheries organized a workshop with representatives from various government institutions related to port and maritime fisheries control in the country in order to develop a National Action Plan to prevent, deter and eliminate illegal, unreported and unregulated (IUU) fishing.

Thursday, December 4th 2014 - 05:51 UTC

Falling oil prices comes as a blessing for dollar-short Argentina

“The fall in prices is going to reduce the burden on the state’s fuel purchases from abroad,” Kicillof said on the sidelines of a business conference.

The slump in global oil prices will reduce Argentina's energy import bill by several billion dollars, a development that could ease pressure on the Central Bank’s strained foreign-currency reserves, according to Economy minister Axel Kicillof.

Thursday, December 4th 2014 - 05:28 UTC

UK to tax multinationals that siphon profits into low-tax havens

“We will make sure big multinational businesses pay their fair share,” Osborne said in a half-year budget statement. The tax will be set at a rate of 25%.

Britain plans to introduce a tax to target multinationals such as Google and Amazon accused of using complex accounting schemes to cut their payments on earnings in the country.

Thursday, December 4th 2014 - 05:09 UTC

Rousseff promises JPMorgan investors a balanced budget and full support of Levy

The new team will work “to gradually but structurally lift our primary surplus so we can stabilize and reduce the public sector's gross debt in relation to GDP”

President Dilma Rousseff said in a letter to investors that one of the main priorities of her second term will be to put Brazil's fiscal accounts in order, sending a strong message that her administration will adopt more market-friendly policies.

Thursday, December 4th 2014 - 05:03 UTC

Brazil raised the basic interest rate 50 basic points to 11.75%

Tombini had warned that the bank must 'maintain especially vigilant' monetary policy

Brazil's central bank on Wednesday raised its key interest rate by 50 basis points to 11.75%. The rise came on the back of a one quarter point rise just over a month ago which was the first since April and in the wake of populist Dilma Rousseff's re-election as president, who last week appointed a new finance team to tackle rising inflation.

Thursday, December 4th 2014 - 04:54 UTC

Pacific Alliance integrated stock markets, MILA, begins operations from Mexico

MILA said the transaction was the purchase by Mexican brokerage Grupo Bursatil Mexicano (GBM) of 200 shares in Chile-based retailer Falabella

Mexico's stock exchange on Tuesday carried out its first operation as a member of the Latin American Integrated Market, or MILA, which connects it to bourses in Chile, Colombia and Peru, MILA said in a statement. The four countries are members of the Pacific Alliance an open market, pro business and foreign investment group created in 2012.

Wednesday, December 3rd 2014 - 09:31 UTC

Analysts anticipate 'painful adjustment' for Uruguay if there is a continuity of current policies

Vazquez promise of continuity and more social spending with the economy at full capacity, “most likely will generate more inflation and more strains”

High inflation, relatively weak economic growth and an exhausted growth model are forecasted for Uruguayan president-elect Tabare Vazquez second administration as of next March, according to the latest report from two Capital Economics analysts.

Wednesday, December 3rd 2014 - 09:25 UTC

Russian ruble suffers its biggest one day skid since 1998

Russia is the world's second-largest oil exporter, with oil and gas accounting for 70% of its exports and half of government revenues.

The Russian ruble suffered on Tuesday its biggest one-day decline since 1998 as oil prices continued to fall on Monday, escalating fears about the Russian economy. The currency slid almost 9% against the dollar before rallying after suspected central bank intervention.

Advertisement

Get Email News Reports!

Get our news right on your inbox.
Subscribe Now!

Advertisement