Friday, November 6th 2015 - 08:23 UTC

Recovery at “a modest pace” in the EU and Euro-zone next year

European Commissioner Pierre Moscovici said EU economies would “see growth rising and unemployment and fiscal deficits falling”

The economic recovery within the European Union and the eurozone should continue at “a modest pace” next year, the EU has forecast. The economy of the 28-nation EU is set to grow by 1.9% this year, 2.0% in 2016 and by 2.1% the year after.

Thursday, November 5th 2015 - 07:02 UTC

Mexico ready to purchase Guyana rice following Venezuela's refusal to renew exchange accord

PM Moses Nagamootoo office said Mexico’s Agriculture Minister Jose Calzada had given assurances he would fast track arrangements to buy Guyana’s paddy.

The Guyana government says Mexico has indicated a willingness to fast track an agreement to purchase paddy rice from the Caribbean country. A statement released by the Office of Prime Minister Moses Nagamootoo said that Mexico’s Agriculture Minister Jose Calzada has given the assurance that he would fast track arrangements to buy Guyana’s paddy.

Thursday, November 5th 2015 - 05:51 UTC

Argentine farmers hold on to their crops waiting for electoral promises, but 'dry' central bank reserves

Cereal exports last week fell 68.5% in terms of a yearly comparison, reaching only US$192 million, far below the normal weekly average.

Argentina's election season has dramatically changed the agricultural landscape in the country, one of the world's breadbaskets. Exporters are now more confident than ever that profits will soar next year, creating a short term impact of plunging sales abroad and reduced cash-flow in the Argentine Central Bank’s coffers, although that could change in 2016.

Wednesday, November 4th 2015 - 23:02 UTC

Brazil's industrial output falls for a fourth straight month in September; 10.9% in twelve months

In September, output dropped in 15 of 24 industrial segments on a monthly basis, with a fall in automobiles and machinery weighing most heavily

Brazil's industrial output fell for a fourth straight month in September as automakers, metal producers and other manufacturers were hit by a worsening recession, government data showed on Wednesday. This follows the Brazilian central bank's announcement on Tuesday that the economy in 2015 would shrink over 3% with inflation almost at 10%.

Wednesday, November 4th 2015 - 08:18 UTC

Mercosur summit on 21 December; Uruguay takes the helm for next six months

The announcement was done by Paraguayan foreign minister Eladio Loizaga following a meeting with the ambassadors from the group's member countries

Mercosur heads of state next summit is scheduled for 21 December in Asunción, Paraguay, the country currently holding the group's chair. At the meeting the six-month rotating chair will be handed to Uruguay for the first half of 2016.

Wednesday, November 4th 2015 - 07:55 UTC

Moody's bets are on Macri: upgrades Argentina's debt rating to 'stable' from 'negative'

The outlook change is based on shifts in the political climate, reducing the risk of investors suffering greater than expected losses with a new government

Following the first round of presidential elections in Argentina on Oct. 25, which the ruling party won by a lower-than-expected margin, credit rating agency Moody's Investors Service upgraded on Monday the country's debt rating to “stable” from “negative.”

Wednesday, November 4th 2015 - 06:24 UTC

Cristina Fernández reinstates benefits for exports shipped from Patagonia ports

Benefits include commodities (fruit, fish, oil and gas, metals) and manufactured goods through port in Rio Negro, Chubut, Santa Cruz and Tierra del Fuego

The outgoing government of president Cristina Fernandez reinstated benefits for all exports that are handled through Patagonian ports. Decree 2229/15 published in the Federal Gazette establishes the extent and percentage of benefits, for the next five years, as long as they are shipped from ports and customs to the south of the Colorado River.

Tuesday, November 3rd 2015 - 18:16 UTC

US manufacturing slows down in October but construction booming: up 17.2%

A strong US dollar has hurt exports and caused a number of job cuts at plants.  According to ISM, the number of manufacturing jobs declined 8% in October

US manufacturing grew at its slowest pace in two years in October, according to data released by Institute for Supply Management (ISM). This is the fourth consecutive month of declines in factory activity, with growth at its slowest pace since May 2013.

Tuesday, November 3rd 2015 - 12:38 UTC

Chinese manufacturing contracts for third month running

The most recent growth figures showed China's economy growing at 6.9%, the weakest rate since the financial crisis.

Chinese manufacturing has contracted for the third month in a row, according to the government's latest factory survey. The Purchasing Managers' Index (PMI) showed a reading of 49.8 for October, unchanged from last month. A figure below 50 indicates that factory activity contracted.

Tuesday, November 3rd 2015 - 10:03 UTC

HSBC profits up following massive cut of jobs and sale of assets

The bank announced thousands of job cuts in June, along with asset sales, as part of cost-cutting measures to improve returns to shareholders.

Lower costs from regulatory fines have contributed to higher profits for HSBC. Pre-tax profit at Europe's biggest lender jumped 32% from a year ago in the third quarter, beating analysts' expectations. Profit reached $6.1bn, up from $4.6bn in the same period a year earlier and above forecasts of $5.2bn.


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