Economy

Economy
Wednesday, April 9th 2014 - 06:37 UTC

Chancellor welcomes insurer’s plans to boost Brazilian activity

Lloyd's, with headquarters in Rio do Janeiro, is Brazil second largest insurer with a 12% market share

Chancellor of the Exchequer George Osborne welcomed the decision by insurer Hiscox to join the Lloyd’s Brazil reinsurance platform during his current trip to Brazil. This will allow Hiscox to grow its Brazilian business, enabling it to talk directly to potential customers and better understand the local market.

Wednesday, April 9th 2014 - 06:30 UTC

Uruguay significantly stronger but still vulnerable to Argentina, says Fitch

Argentine FDI flows into Uruguay since 2007 has somewhat replaced the accumulation of deposits in Uruguayan banks

While Uruguay's current financial position is significantly stronger than in the early 2000s when its economy suffered from the effects of the Argentine crisis, a severe downturn in Argentina could still have an important impact on Uruguay's economy through a variety of transmission channels, according to a new special report published by Fitch Ratings.

Tuesday, April 8th 2014 - 22:05 UTC

Falklands fiscal regime and stability remain attractive for oil and gas industry

Wells to the north of the Islands cost around 50 million dollars to drill and those to the south and east can cost upwards of 100 million

With the Falkland Islands' upstream oil and gas industry still in its infancy, the country's attractive fiscal regime, which boasts a low government take, is expected to remain stable through the short and medium term, says a new report from research and consulting firm GlobalData.

Tuesday, April 8th 2014 - 07:38 UTC

UK minister arrives in Brazil to ramp trade with generous export financing

Chancellor of the Exchequer Osborne is scheduled to meet Mantega and Tombini

At the start of a three day trade trip to Brazil, the Chancellor of the Exchequer George Osborne announced the next stage in the UK government’s fundamental overhaul of finance for exporters which should move the UK to the top of the global league for export support.

Tuesday, April 8th 2014 - 07:35 UTC

March inflation in Buenos Aires City, 3.6% and 37.5% in the last 12 months

Fresh vegetables and fruit was the item with the highest incidence according to FIEL

Consumer prices in the City of Buenos Aires increased 3.6% during March compared to February according to the latest release from the economic consultants FIEL. This is the first drop this year following the increases in January and February which were above 5%.

Tuesday, April 8th 2014 - 00:21 UTC

Rolls-Royce marine facility in Rio to support Brazil's oil industry

The announcement was made by visiting Chancellor of the Exchequer Osborne

Chancellor of the Exchequer George Osborne MP on a three-day visit to Brazil announced on Monday that Rolls-Royce is to build a new £ 22 million Marine facility in Duque de Caxias, Rio de Janeiro.

Monday, April 7th 2014 - 21:24 UTC

Latam and Caribbean migrants remittances total over 60bn dollars annually

But channeling remittances into the formal financial system remains a challenge

A new study by the Inter-American Development Bank’s (IDB) Multilateral Investment Fund (MIF) and the Inter-American Dialogue has shed light on the financial behavior of Latin American and Caribbean migrants, finding that there is need for formal savings products for remittance clients.

Monday, April 7th 2014 - 06:36 UTC

Brazil's high yield bonds again attract foreign investors

The central bank raised last week the Selic rate to 11%

Brazil’s decision to hike its key interest rate to 11%, its highest level in two years, has again started to attract investors since there are also strong hopes that Brazil’s next president to be elected in October will rein in spending and adjust macroeconomic policies.

Monday, April 7th 2014 - 05:34 UTC

China's COFCO joins world's top grain-traders select club

China is seeing massive expansion in demand for grains such as soybeans and corn

COFCO Corp has agreed to pay 1.5 billion dollars for a majority stake in Noble Group Ltd's agribusiness, its second acquisition in less than two months, as China's largest grain trader seeks to strengthen its market position worldwide.

Saturday, April 5th 2014 - 03:34 UTC

US economy adds 192.000 new jobs in March; unemployment steady at 6.7%

Healthcare gained 19,000 new jobs, and ambulatory healthcare, including outpatient care, rose by 20,000

The US added 192,000 new jobs in March, in line with expectations, as the unemployment rate held steady at 6.7%. Severe weather over the winter did not prevent the monthly average for new jobs from continuing a climb towards pre-economic crisis levels.

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