“Is a monthly stopover in Argentina too high a price to pay for a direct weekly flight to Sao Paulo, the biggest flight hub in South America,” is the question we all have to ask ourselves, said lawmaker MLA Mike Summers this week as he set out the situation and options available to progress and develop the Falkland Islands’ economy.
The airline industry agreed on a framework for reducing its carbon footprint at a UN meeting in Montreal, the first commercial sector on its own to tackle climate change. Six years of negotiations culminated in what International Civil Aviation Organization president Azharuddin Abdul Rahman called a historic deal at the ICAO's plenary session to cap carbon-dioxide emissions by 2035 at 2020 levels.
The Falkland Islands government would claim 9% royalty on one barrel of oil, plus 26% corporation tax on profit, confirmed Member of Legislative Assembly Roger Edwards this week.
The Amaro family from Brazil, one of the main controllers of LATAM Airlines, sold a 6.47% stake in the regional carrier on Friday on the Santiago stock exchange for some US$296 million, as part of a strategy to modify the company's ownership structure.
Risks of a Chinese banking crisis are mounting, according to a warning indicator from the banking industry's global watchdog. A key gauge of stress in the banking sector is now more than three times above the danger level, the Bank for International Settlements (BIS) said in its latest quarterly review.
Britain faces the prospect of compensation claims over a disastrous overseas aid project to build an airport on the remote island of St Helena, according to reports in the UK media. The £285million flop became a symbol of Britain’s aid waste this year after experts warned it might never open because of severe problems with wind conditions on the British Overseas Territory in the South Atlantic Ocean.
The United States Federal Reserve pushed back plans to raise interest rates on Wednesday, a widely expected move following a series of mixed economic reports and varied signals from Fed officials. After its two-day policy meeting, the Federal Open Market Committee voted to hold the federal funds rate between 0.25% and 0.50%, citing progress in economic and labor market growth and an improving risk outlook.
U.S. industrial conglomerate General Electric will invest US$10 billion in Argentina over the next decade, vice chairman John Rice said on Monday, the latest foreign company to announce new plans since President Mauricio Macri took office.
Works on the extension of the Prat dock in the port of Punta Arenas picked up this last week and should be ready for the beginning of next year, including two dolphins and six jackets, which should enable all cruise passengers to land directly.
The recent Argentina/UK joint cooperation statement, with a chapter on the Falklands/Malvinas Islands, is “promising”, however much rests to be defined and agreed, and additional air links should be carried out by Argentina's flag carrier, according to Rosana Bertone, governor of the extreme south province of Tierra del Fuego, Antarctica and South Atlantic Islands.