Economy

Economy
Wednesday, January 7th 2015 - 06:20 UTC

Brazil sends foreign minister to China/Celac meeting in Beijing

The China/Celac meeting is scheduled for next Thursday and Friday and will be the first event of this kind strongly sponsored by Chinese president Xi Jinping

Brazil's new foreign minister Mauro Vieira has left for Beijing to attend the first ministerial meeting between China and the Community of Latin American and Caribbean States, CELAC, according to reports from Brasilia.

Tuesday, January 6th 2015 - 23:11 UTC

Energy crisis as early as 2016

For now Saudi Arabia is willing to let the other OPEC members suffer until the next scheduled OPEC meeting in June.

Low oil prices today may be setting the world up for an oil shortage as early as 2016. Today we have just 2% more crude oil supply than demand and the price of gasoline is under $2.00/gallon in Texas. If oil supply falls too far, we could see gasoline prices doubling within 18 months. For a commodity as critical to our standard of living as oil is, it only takes a small shortage to drive up the price.

Tuesday, January 6th 2015 - 22:49 UTC

Aurelius hedge fund denies being part of lawsuit filed against Petrobras

“The lawsuit has been filed by the City of Providence (Rhode Island. Aurelius has nothing to do with it,” said the president of Aurelius Mark Brodsky

Aurelius Capital Management, one of the main plaintiffs against Argentina in New York District Judge Thomas Griesa’s courtroom, has denied being part in a lawsuit filed against Brazilian state-owned oil company Petrobras, in response to accusations by Argentina’s Economy Minister Axel Kicillof.

Tuesday, January 6th 2015 - 07:50 UTC

Brazil posts first trade deficit since 2000: slower economy, fall in commodities' prices

Exports were 225 billion, down 7%; imports, 229 billion, a 4.4% decline from the previous year, but manufactured goods exports fell nearly 14% from 2013.

Brazil registered its first annual trade deficit since 2000, according to official data released on Monday. Latin America's largest economy slowed down in 2014 and prices fell for iron ore, soybeans and other key commodities exports.

Tuesday, January 6th 2015 - 07:41 UTC

US oil price falls below 50 dollars threshold, and markets decline sharply

US oil production has soared recently, as fracking has revolutionized oil production in the country

The US oil price fell below the symbolic threshold of $50 a barrel for the first time since April 2009, before finishing the day at $50.05. The price of Brent crude also fell on Monday, dipping 6% to $53 a barrel.

Tuesday, January 6th 2015 - 07:32 UTC

Brazil' finance minister pledges fiscal balance and cuts in spending

Levy, educated at Chicago, is a fiscal conservative known for slashing spending during his 2003-2006 stint as treasury chief.

Brazil must focus on making difficult fiscal adjustments in order to get economic growth and investment back in gear, the country's new Finance Minister Joaquim Levy said on Monday. At his swearing-in ceremony in Brasilia, Levy said the process will require the participation of society as a whole and will involve changes to taxes and spending, without resorting to accounting shortcuts.

Tuesday, January 6th 2015 - 07:24 UTC

Germany' growing consensus to let Greece drop out of the Euro block

The Greek Syriza which party could reach power has pledged to write-off much of Greece’s debt and renegotiate the terms of its bailout with the EU and IMF.

Germany has said it will not be “blackmailed” into renegotiating Greece’s rescue program should a new hard left government take office after elections later this month. The Euro dropped to a nine-year low after a report in Der Spiegel magazine on Monday that Berlin was no longer opposed to Athens leaving the currency bloc.

Tuesday, January 6th 2015 - 07:02 UTC

Argentine farmers netted 24.1 billion dollars from grains and oilseeds last year

The sale of grains and oilseed helped stop the drain of Central Bank international reserves

Argentine farmers exported more than 300 million dollars worth of grains and oilseeds in the last two days of 2014 to help bring in much needed cash for the nation’s central bank. The situation was boosted by an agreement reached between farmers and the Argentine government regarding foreign currency payment for the grains and oilseed.

Tuesday, January 6th 2015 - 06:58 UTC

Optimistic forecast for Latin America: 2.2% growth in 2015, up from 1.3% in 2014

“Now, more than ever, the answer lies in internal sources of growth, which brings us up against a huge challenge: increasing productivity,” said Moreno

Latin America and the Caribbean's economic growth might recover modestly to 2.2% in 2015, up from 1.3% in 2014, its lowest rate since last decade's global financial crisis. Despite the slowdown, the region has managed to maintain its gains against poverty, said Inter-American Development Bank President Luis Alberto Moreno.

Monday, January 5th 2015 - 09:06 UTC

Falkland Islands Tourist Board focuses on Tourism to the next Generation of Travellers.

”The Millennials generation are those born after 1985, it’s a different marketing opportunity.”  Mr. Mason said

Tony Mason, Managing Director of the Falkland Islands Tourist Board today discussed plans on marketing to a new generation of travellers.

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