Wednesday, April 29th 2015 - 09:22 UTC

Argentine central bank increases reserves to highest level since November 2013

“Today the Central Bank purchased a record figure in the exchange market. International reserves keep going up” said central bank chairman Vanoli

Argentina's central bank bought 630 million of dollars on the local currency market on Tuesday in one of its largest-ever purchases, a move that will bolster the country's precariously low hard currency reserves. Some 500 million of the dollars purchased were proceeds from last week's 1.5 billion auction of bonds by state energy company YPF.

Wednesday, April 29th 2015 - 08:07 UTC

The end of the BRICS

Brazil hasn’t even overtaken Britain by 2050, despite having three times as many people. And Russia's economy barely doubles in the next 35 years

By Gwynne Dyer - ”The only function of economic forecasting is to make astrology look respectable”, said John Kenneth Galbraith, the wisest American economist of his generation. (“A paltry honor,” he would have murmured.)

Tuesday, April 28th 2015 - 05:44 UTC

Brazil's economy expected to further contract and inflation to reach 8.25%

As to growth Focus expects a 1.1% contraction, compared to the 1.03% estimate released last week, the worst performance by Brazil’s economy since 1990.

Analysts have reviewed negatively Brazil's 2015 inflation and growth forecasts, according to the latest Focus report from the Central Bank, released on Monday. The survey which includes 100 analysts from private financial institutions on the state of the economy anticipates inflation of 8.25% and 1.1% contraction of GDP by the end of the year.

Tuesday, April 28th 2015 - 05:26 UTC

France leads world wine production and exports, with third largest area with vineyards

Spain has 1.02 million hectares of grapes; China now has the second-largest wine growing area with 799,000 hectares compared to France's 792,000 hectares

There was both good and bad news for France in this week’s annual report on the outlook of the wine industry by the International Organization of Wine and Vine (OIV).

Tuesday, April 28th 2015 - 05:20 UTC

Fitch cuts Japan's credit rating: high and rising level of government debt

“Japan’s main sovereign credit and rating weakness is the high and rising level of government debt,” Fitch said

Fitch cut its credit rating for heavily indebted Japan by one notch on Monday, saying it has not done enough to plug a budget gap left by its decision to delay the second stage of a sales tax hike.

Tuesday, April 28th 2015 - 02:07 UTC

Falklands' fisheries contribute an additional £6 million to Islands' budget

Good catches and no need of refunds in licence fees plus additional trans-shipment fees made a big boost to the Falklands' government coffers

It's budget time in the Falkland Islands and fishing again has boosted the government coffers this year with more than £6 million above that originally budgeted, according to the Penguin News.

Monday, April 27th 2015 - 22:48 UTC

Paraguay and Uruguay ministers to discuss recovering paralyzed Mercosur

Loizaga will be receiving Nin Novoa on Tuesday to address the current situation of Mercosur and consider options to get the group back on its tracks

Following on the lead of Uruguay's new government, Paraguay has also demanded Mercosur returns to its roots and original objective with free circulation of goods and no obstructions of any kind or impediments such as tariff barriers. The five countries group has been paralyzed and negotiations for an encompassing cooperation and trade agreement with the European Union remain stalled.

Monday, April 27th 2015 - 10:35 UTC

Argentine fisheries landings down 10.8% in first quarter; squid down 45.4%

Squid landings during the first quarter reached 29.800 tons, well below a year ago

Argentine seafood landings decreased by 10.8% in the first quarter of this year compared with the same period of 2014, according to the latest release from the Under Secretariat of Fisheries and Aquaculture.

Monday, April 27th 2015 - 10:14 UTC

Shell confident Petrobras will recover and willing to purchase more assets from the Brazil oil giant

CEO Ben van Beurden said production from Brazil's offshore subsalt region will remain profitable, and predicted oil prices will rise from the current low levels

Royal Dutch Shell Plc has taken into account the risks presented by the Petrobras graft scandal to its expanding operations in Brazil and is confident the Brazilian state-run oil company will emerge stronger, Shell's CEO said in an interview.

Saturday, April 25th 2015 - 06:33 UTC

Oil price war may benefit both US Shale and Saudi Arabia

After the oil price crash in 1985, it took almost twenty years for prices to revert to previous levels; this could mean oil does not return to $100 a barrel until 2035

Even as financial commentators on CNBC are starting to come around to the idea of a bottom in oil prices, the key question for US oil producers remains one of timing. How long will the oil price slump last? Is this a relatively short term event like 2008, or a longer term slump like the one in the mid 1980’s?


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