Stories for July 23rd 2015

Thursday, July 23rd 2015 - 08:58 UTC
Discouraging outlook for commodities this year confirms World Bank

The outlook for commodities remains grim for this year, except that oil will fall a bit less than previously forecast, the World Bank said. Average prices for fuels such as crude, natural gas and coal will tumble 39% from 2014, while those for materials like metals and fertilisers will fall about 12%, the Washington-based lender said in its quarterly “Commodity Markets Outlook” released Wednesday.
Thursday, July 23rd 2015 - 08:52 UTC
Brazil's recession expected to continue next year according to top bank

Brazil's recession will extend into next year, hurting President Dilma Rousseff's efforts to shore up public finances and arrest a sharp increase in unemployment, Itau Unibanco's chief economist said in a report on Wednesday. Ilan Goldfajn forecasts a drop of 2.2% in 2015 and 0.2% in 2016, down from previous estimates for a decline of 1.7% in 2015 and an increase of 0.3% in 2016.
Thursday, July 23rd 2015 - 08:37 UTC
Tourism in South America reported strongest growth in Jan-April period

International tourism demand continued to be robust between January and April 2015 with tourist arrivals increasing 4% worldwide according to the latest UNWTO World Tourism Barometer. Almost all regions enjoyed strong growth with the Americas leading growth and by sub-region, Oceania and South America boasted the strongest increase (both +8%), followed by the Caribbean and Central and Eastern Europe (both +7%)
Thursday, July 23rd 2015 - 08:18 UTC
Protesting French farmers promised €600m of emergency government help

Dramatic protests across the north of France have won the country’s farmers €600m of emergency government help. This week thousands of tractors blockaded motorways and brought cities to a standstill, as the plight of producers dominated the nation’s news.
Thursday, July 23rd 2015 - 08:02 UTC
Brazil slashes fiscal savings' goals for 2015 and 2016 on plunging tax revenue

Brazil dramatically lowered its fiscal savings goals for 2015 and 2016 on Wednesday due to plunging tax revenues, and announced new spending cuts to underscore its commitment to austerity. The government cut its primary surplus goal for this year to 8.7 billion reais ($2.70 billion), or 0.15% of GDP, from 66.3 billion reais, the equivalent of 1.1% of GDP, originally budgeted.
Thursday, July 23rd 2015 - 07:48 UTC
Small fire on cruise vessel in Jamaica suppressed by its own equipment

A fire aboard a Royal Caribbean cruise ship that departed from Port Canaveral injured one crew member, but company officials say it was quickly extinguished. Black smoke could be seen billowing from the 1,112-foot Freedom of the Seas as it docked in Jamaica on Wednesday with 4.500 passengers.
Thursday, July 23rd 2015 - 07:24 UTC
Over half of Argentina households belong to the middle class; only second to Uruguay

Argentina is the Latin American country where the middle class has grown the most in ten years, doubling in size, according to a report released by the Pew Research Center in the United States.
Thursday, July 23rd 2015 - 07:15 UTC
Obama administration drafting plan to definitively close Guantánamo prison

The White House said it was in the final stage of drafting a plan for closing the Guantánamo prison for foreign terrorism suspects, racing against time to resolve one of President Barack Obama's most intractable problems. Spokesman Josh Earnest said the administration hoped to “short circuit” opposition from Republicans in Congress who have blocked Obama from closing the prison.
Thursday, July 23rd 2015 - 06:40 UTC
Scioli meets Raul Castro in Havana and praises political and economic opening of Cuba

Argentina's presidential hopeful and Buenos Aires governor Daniel Scioli was received on Wednesday by President of Cuba Raul Castro for an official audience in Havana, making the incumbent candidate the first foreign politician to meet the head of state since the normalising of relations with the United States.
Thursday, July 23rd 2015 - 06:21 UTC
Cristina Fernandez' candidates for October's general elections have a clear lead

Argentina's current government presidential ticket for October's ballot, Daniel Scioli and Carlos Zannini has a solid lead of 18 points over its main competitor, the PRO party with hopefuls Mauricio Macri and Gabriela Michetti, according to the latest public opinion poll released by Aresco.