Economy

Tuesday, January 21st 2014 - 15:24 UTC
Mujica says Mercosur is 'seriously impaired” and admits resignation in relations with Argentina

Uruguayan president Jose Mujica said that Mercosur is “seriously impaired” but it also has its strong points, and the fact Paraguay resumes full membership is very positive. Mujica was interviewed by a government financed newspaper, La República and again referred to the postponed Mercosur summit and the deteriorated relations with Argentina.
Tuesday, January 21st 2014 - 14:55 UTC
Argentina and Brazil with the largest and fastest growing fiscal pressure in Latam

Argentina’s tax revenue was at last count the largest and fastest growing in the region, the UN Economic Commission for Latin America and the Caribbean (ECLAC) revealed on Monday. At 37.3%, the latest tax revenue-to-GDP data put Argentina ahead of Brazil, with tax revenue worth 36.3% of its GDP in 2012 — and a few percentage points above the average for OECD countries at 34.6%.
Monday, January 20th 2014 - 22:26 UTC
New body to regulate Libor; several big league banks fined for rate-rigging

A new body has been appointed to administer Libor - the London Interbank Offered Rate. A subsidiary of the Intercontinental Exchange Group (ICE), a global network of exchanges and clearing houses, has been appointed to ensure Libor cannot be rigged by banks again.
Saturday, January 18th 2014 - 06:39 UTC
US dollar approaching the 12 Pesos mark in Argentina

The US dollar in Argentina reached a new record on Friday at the end of nerve racking week which saw the greenback in the parallel market climb another 40 cents and close at 11.90 and 11.95 Pesos purchase and sale prices. During the week the US dollar soared 1.15 Pesos, and closed the week with a gap of 75.6% between the official dollar exchange and the 'blue' dollar.
Saturday, January 18th 2014 - 05:55 UTC
Dairy values and meat peaked in 2013 according to FAO Food Price Index

The FAO Food Price Index averaged 206.7 points in December 2013, nearly unchanged from November, as a sharp increase in dairy prices and firming meat values largely balanced out a steep decline in sugar quotations and lower cereal and oil prices.
Saturday, January 18th 2014 - 05:50 UTC
Global cereal production in 2013 and outlook revised upward, says FAO

FAO’s latest forecast for world cereal production in 2013 has been revised upward marginally (2 million tons) since November to a new high of almost 2 500 million tons (including rice in milled terms), 8.4% more than last year and some 6% above the previous record in 2011.
Friday, January 17th 2014 - 08:05 UTC
US dollar keeps breaking records in Argentina; central banks reserves fall a further 100 million

The US dollar reached a new record high on Thursday as purchase pressure on the so called “blue” or informal market continues pushing the price which closed 35 cents up at 11.50 pesos for buyers and 11.55 pesos for sellers.
Friday, January 17th 2014 - 07:57 UTC
Falklands oil companies agree on tension leg platform for development of Sea Lion field

The Tension Leg Platform option is the most suitable technical and commercial solution for the development of the Falklands' Sea Lion field, according to the recommendation from field operator Premier Oil, said Rockhopper Exploration in an official release, which also announced further drilling is expected in the next twelve months.
Friday, January 17th 2014 - 07:29 UTC
US Congress supports budget peace for the rest of the fiscal year

Washington's battles over government funding ended with a whimper today as the US Senate approved a 1.1 trillion dollars spending bill that quells for nearly nine months the threat of another federal agency shutdown.
Friday, January 17th 2014 - 07:09 UTC
US Congress wants action on banks involved in the commodities business

United States lawmakers are pressing the Federal Reserve to act more forcefully, and quickly, to limit banks’ involvement in the commodities business, which has been blamed for inflating prices on everyday items like electricity and canned beverages.