Economy

Economy
Saturday, June 4th 2016 - 10:54 UTC

Argentina and Monsanto reach preliminary agreement on seeds and soy controls

Dispute blew up after Monsanto started asking Argentine exporters to inspect soybean shipments to ensure growers had paid royalties for using company’s seeds

After weeks of crossed accusations, Argentina reached a preliminary deal with Monsanto, reportedly agreeing to cancel its controls on soybean shipments. Under the accord the Argentine government will be the one to carry out the inspections, as part of a proper framework for agriculture firms to be paid for royalties.

Saturday, June 4th 2016 - 08:57 UTC

YPF and ENAP agree to increase gas and oil production off Magellan Strait

Argentina's YPF and Chile's Enap Sipetrol announced a joint project to expand the production of natural gas and crude from the offshore Magallanes Deposits, (PIAM), to the east of Magellan Strait Reserve. Representatives from Tierra del Fuego province and Magallanes Region, and from the two companies, attended the announcement ceremony.

Friday, June 3rd 2016 - 09:13 UTC

Temer's administration confident of congressional support for its economic plans

Chief of staff Eliseu Padilha said government enjoys a solid two-thirds majority in Congress to push through legislation needed to contain a record deficit

President Michel Temer's will press ahead with ambitious plans to balance the budget, reform pensions and draw private money into the energy sector despite the loss of two ministers to a corruption scandal, his chief of staff said on Thursday.

Friday, June 3rd 2016 - 06:40 UTC

Falklands are “my homeland”, with the right to freely choose our own future

Ms. Krysteen Ormond, JP, Falkland Islands Government Representative to the United Nations Decolonization Committee

The Falklands are a people, “my homeland”, with the right to freely choose our own future, as enshrined as leading principle in the UN Charter and safeguarded by the several covenants on civil and political rights, said Falklands' government representative Krysteen Ormond addressing the Pacific Regional Seminar of the C24, Special Decolonization Committee.

Thursday, June 2nd 2016 - 09:03 UTC

Argentina's industrial production down 6.7% year on year in April

It was the first industrial output data released since Macri took office. Macri shut down the publishing of economic data while revamping the country's stats agency

Argentina's industrial output contracted 6.7% in April compared with the same month last year, the country's newly revamped Indec statistics agency said, punctuating the effect of recent fiscal austerity measures.

Thursday, June 2nd 2016 - 07:31 UTC

Brazil's economy plunges 5.4% in the first quarter compared to a year ago

 The result confirms analysts' expectations that Brazil's economic performance in 2016 will be roughly similar to last year, when GDP shrank 3.8%

Brazil's economy sank further into recession in the first quarter, contracting 5.4% relative to the same three-month period of last year, the government said Wednesday. Compared with the final quarter of 2015, the economy shrank by 0.3%, according to the state-run Brazilian Institute for Geography and Statistics, or IBGE.

Thursday, June 2nd 2016 - 07:13 UTC

Europe opens the longest tunnel in the world, 57km, under the Swiss Alps

 With political unity on the continent shaken, Swiss president Johann Schneider-Ammann said the tunnel would “join the people and the economies” of Europe.

The world's longest tunnel officially opened on Wednesday, with the trailblazing rail passage under the Swiss Alps aiming to ease transit through the heart of Europe. With political unity on the continent shaken by a massive influx of migrants and the looming threat of Britain's EU departure, Swiss president Johann Schneider-Ammann said the tunnel would “join the people and the economies” of Europe.

Wednesday, June 1st 2016 - 06:28 UTC

Brazilians disenchanted with their elected officials and a majority believes “nothing will change”

When asked if they thought congress was acting on behalf of the public’s interest during the ongoing impeachment process, only 23% said yes and 63% said no.

Brazilians have become increasingly disappointed with politics and their elected politicians, according to an Ibope Intelligence opinion poll collecting reactions to the current political situations, which has a suspended president, Dilma Rousseff; an interim leader Michel Temer, and a divided Congress.

Wednesday, June 1st 2016 - 03:11 UTC

Falklands, after 'boom' years, announces a prudent mid/term sustainable budget

Financial Secretary Nicola Granger made the presentation of the Appropriations and Finance bills to the Legislative Assembly

The Falkland Islands Financial Secretary Nicola Granger presented on Tuesday to the Legislative Assembly the 2016/17 financial budget bill with appropriations of £62.9M, funded from revenues anticipated in the year of £61.3M with the remainder coming from the reserves built up from wind-falls in Illex catches and oil and gas exploration in recent years.

Tuesday, May 31st 2016 - 19:25 UTC

Falklands state of the nation: economic challenges but also hopes of a productive relationship with Argentina

Governor Colin Roberts CVO addresses the Legislative Assembly with the annual report on the state of the nation

The Falkland Islands finances remain robust despite a future of domestic and overseas challenges, but on the other hand recent developments in Argentina have opened hopes for a productive, closer relationship with the South American continent, said Governor Colin Roberts in his annual speech on the state of the nation.

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