Economy

Economy
Thursday, July 28th 2016 - 11:36 UTC

Ushuaia plans to expand main port pier 251 meters and improve facilities

Tierra del Fuego governor Rosana Bertone made the presentation of the project at Government House in Ushuaia

Ushuaia, the world's most extreme south city and the gateway for Antarctica cruise tours is planning to upgrade its port facilities including the expansion of the main pier by 251 meters increasing the docking capacity for tourism vessels during the summer season.

Wednesday, July 27th 2016 - 13:51 UTC

Temer vetoes foreign 100% ownership of Brazilian airlines

 While Temer has expressed support to open up the country's aviation sector to further foreign investment, he does not support their full ownership.

Brazil's interim President Michel Temer vetoed on Tuesday an article in a new law, which would allow foreign investors to take 100% ownership of Brazilian airlines, according to the official Gazette. The article is part of a law seeking to modify areas of the aviation sector, mainly in order to allow the state-owned airport infrastructure firm, Infraero, to restructure its debts.

Wednesday, July 27th 2016 - 12:57 UTC

Wet weather conditions Argentine wheat crop; 2016/17 corn area expected to expand

Argentine farmers had been expected to ramp up wheat output to the highest in five years in 2016-17, and lifting export prospects

Hopes for a revival in Argentina’s wheat production are falling, even as ideas for corn growing continue to mount, in part at the expense of soybeans, for which seed availability has emerged as an issue. Argentina’s wheat production will increase in 2016-17, but not by as much as had been thought, the US Department of Agriculture bureau in Buenos Aires said, cutting to 13.7m tons their harvest forecast.

Tuesday, July 26th 2016 - 21:54 UTC

Petrobras announces plans to sell voting control of its distribution network

Petrobras is trying to sell BR Distribuidora, Brazil's largest fuels distributor, as part of a plan to sell US$15 billion of assets by the end of this year.

Petrobras announced it plans to sell voting control of Petrobras Distribuidora SA after a bidding round for a minority stake in the fuels retailer failed to attract bids that met the state-controlled oil company's needs.

Tuesday, July 26th 2016 - 21:51 UTC

Meirelles insists on a cap for government spending, if not taxes will have to rise

Meirelles said he was confident the fiscal year deficit will be contained at R$ 170.5 billion (US$ 51.6 billion), despite high spending and falling revenues

Brazil's Finance Minister Henrique Meirelles has warned that if Congress does not approve a ceiling for public spending, the country will have chosen a most cumbersome path with new rounds of tax increases and higher interest rates which will further delay sustainable growth.

Monday, July 25th 2016 - 10:51 UTC

Argentina considering phasing out Patagonian ports' fisheries exports

“I imagine that in the next thirty days we will have some announcement on the issue, it will be a gradual phasing out”, said Metz.

The Argentine government is considering phasing out the incentives which benefit Patagonian ports fisheries exports. The announcement was made by Jorge Metz, Ports Under Secretary during a recent visit to Bahía Blanca although pointing out the issue was still under consideration by the cabinet chief office, but some advances would be made public in a month's time.

Thursday, July 21st 2016 - 08:07 UTC

PM May announces in Germany negotiations for an “orderly departure” from EU this year

PM May said UK was in no rush to trigger the exit process, which  although “this would not please everyone” it was right to hold off until the UK “objectives were clear”.

Prime Minister Theresa May has said the UK will not begin official negotiations on leaving the EU this year as she held talks with Germany's Chancellor Angela Merkel. Speaking in Berlin on Wednesday, the PM said securing a “sensible and orderly departure” from the EU would take time, but she insisted the UK would not “walk away” from Europe and wanted to retain the “closest economic links”.

Thursday, July 21st 2016 - 07:29 UTC

Brazil leaves rate unchanged at 14.25%; stubborn inflation despite recession

The bank's new governor Ilan Goldfajn, who took office in June, warned of lingering risks to reaching that goal, including the persistently high inflation

Brazil's central bank, with its recently appointed president, kept interest rates on hold for the eighth consecutive meeting on Wednesday as expected, despite a deep recession, as the new board cited concern about stubbornly high inflation and uncertainty surrounding economic reforms.

Wednesday, July 20th 2016 - 06:29 UTC

Falkland Islands Government appoints Canadian Head of Policy

Ms Simovic said she, “is excited to be starting a new chapter in the Falkland Islands and honoured to have the opportunity to serve the community.”

Diane Simsovic has been announced as the new Head of Policy for the Falkland Islands Government. Simsovic is Canadian and has more than 35 years’ experience in the private and public sectors, with a background working at municipal, provincial and federal levels of Government, primarily focussing on economic development and growth. Ms Simsovic has also previously worked in environmental engineering and management consultancy.

Wednesday, July 20th 2016 - 05:25 UTC

Falklands must be involved in a tripartite dialogue, if Argentina's new policy is to be positive

“If you are willing to integrate the point of view of Falklanders, if they are part of any discussions relative to their lives and future, then this is positive”, said Picardo.

Argentina's collaboration strategy towards the UK and the Falkland Islands, if it means integrating the Islanders in any discussions relative to their lives and future, which is only of their concern, “this is positive”, according to Gibraltar Chief Minister Fabian Picardo, interviewed by Argentina's official news agency Telam.

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