Economy

Tuesday, February 25th 2014 - 04:13 UTC
Pope overhauls Vatican finances and names Secretariat for the Economy

Pope Francis has taken his boldest step yet to overhaul the Vatican's scandal-plagued finances, creating a new department with broad powers to oversee all of its economic and administrative affairs, the Vatican announced on Monday. The Secretariat for the Economy will answer directly to the pope and will be headed by Australian Cardinal George Pell, currently the archbishop of Sydney.
Monday, February 24th 2014 - 06:49 UTC
Magallanes the fastest and strongest growing region of Chile last year

Magallanes, in the extreme south of Chile plus Aysén and Tarapacá are the regions which registered the best performance in 2013 according to the country's indicator of regional economic activity, Inacer, which is released by the country's Stats Office, INE.
Monday, February 24th 2014 - 06:42 UTC
Sao Paulo protest against World Cup and demand more hospitals and schools

Brazilian police used tear gas and made an estimated 230 arrests on Saturday evening to disperse a protest in Sao Paulo ahead of the World Cup. Among those arrested in Brazil's business hub, which will host the opening match of the World Cup on June 12, were five journalists, O Estado de Sao Paulo daily reported.
Monday, February 24th 2014 - 06:40 UTC
World top economies pledge 2% growth in next five years and millions of jobs

The world's top economies have embraced a goal of generating more than 2 trillion dollars in additional output over five years while creating tens of millions of new jobs, while also promising more transparency in monetary policy to allay the concerns of emerging economies.
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.