Economy

• Saturday, February 22nd 2014 - 07:04 UTC

  OECD warns global economy is threatened by a new low-growth era

  

  A widespread slowdown in global economic productivity is threatening to usher in a new low-growth era, the Organisation for Economic Cooperation and Development has warned.

• Saturday, February 22nd 2014 - 06:40 UTC

  Falklands' annual inflation 0.6%; improvements planned for the index

  

  The Falkland Islands inflation for the last quarter rose by 0.03% with an annual increase of 0.6% it was announced at this week’s Standing Finance Committee, reports the Penguin News.

• Saturday, February 22nd 2014 - 06:34 UTC

  Argentina's trade balance during January drops to a minimum of 35 million dollars

  

  Argentina’s balance of trade in January unveiled a small surplus of 35 million dollars, which represents a decrease of 88% comparing the same period in 2013. According to the government stats office, Indec, exports reached 5,3 billion dollars, a retraction of 8%, compared to the same month last year, while imports hit 5.1 billion, a downfall equal 4%, compared to January 2013.

• Saturday, February 22nd 2014 - 06:28 UTC

  Argentine economy expanded 4.9% last year, according to government data

  

  The Argentine economy expanded 4.9% last year according to the official stats office Indec 'monthly economic growth indicator', EMAE, which is usually a good anticipation of the final figures. If confirmed Argentina will have grown uninterruptedly since the 2002 crisis, when the major default and melting of the economy.

• Saturday, February 22nd 2014 - 06:21 UTC

  YPF and Repsol are expected to sign a compensation deal next week

  

  Spanish oil major Repsol said Friday that, as part of a preliminary compensation deal struck last year with the Argentine government for the seizure of its former unit, YPF, it will take a charge of 1.28 billion Euros (1.76 billion dollars) on its 2013 earnings.

• Friday, February 21st 2014 - 08:05 UTC

  Uruguay lowers growth estimate for 2014 to 3% of GDP; inflation still a challenge

  

  Uruguay's GDP this year is expected to expand by 3%, below the original estimate of 4%, according to Economy minister Mario Bergara currently in the United States on a tour to promote investments in the country and who was interviewed by Bloomberg.

• Friday, February 21st 2014 - 07:30 UTC

  Chancellor Osborne warns UK recovery 'is not yet secure' despite recent growth surge

  

  UK Chancellor George Osborne said next month’s Budget will continue to confront Britain’s problems as he cautioned the recovery was “not yet secure” despite a recent surge in growth.

• Friday, February 21st 2014 - 07:15 UTC

  Chinese flair for France's second largest automobile group, PSA Peugeot-Citroen

  

  Struggling French carmaker PSA Peugeot Citroen has sealed a long-awaited rescue deal that will see its founding family cede control of the company. China's Dongfeng Motors and the French government will each invest about 800m Euros in return for 14% stakes. Another 1.4bn Euros will be raised from existing investors in Peugeot.

• Friday, February 21st 2014 - 07:12 UTC

  Brazil announces budget spending cuts to meet primary budget surplus

  

  Brazil's government on Thursday announced 44 billion Reais (18.41 billion dollars) in spending cuts as it seeks to meet its primary budget surplus target for 2014. This year's cuts exceed the 38 billion Reais (some 15.9 billion) in budget reductions announced in 2013 and extend to all government departments except education, health, social development, and science and technology.

• Friday, February 21st 2014 - 07:06 UTC

  Argentine restructured bondholders appeal to the US Supreme Court

  

  A group of bondholders that entered the restructuring of Argentine debt in 2005 and 2010 have presented their own appeal before the United States Supreme Court, in the case involving the so-called holdout hedge funds. The petition, made public on Thursday, mirrors a similar appeal carried out on Tuesday by the Argentine government.