Economy

Friday, December 20th 2013 - 06:17 UTC
Despite sluggish economy, Brazil unemployment at record low 2.6% in November

Unemployment in Brazil's six-largest cities was 4.6% in November compared with 5.2% in October, the Brazilian Institute of Geography and Statistics, or IBGE, said on Thursday. That was the lowest monthly reading since December 2012, when unemployment was also at 4.6%.
Friday, December 20th 2013 - 06:11 UTC
Brazil denies EU charges of protectionism and discriminating tax measures

Brazil on Thursday strenuously denied European Union charges it engages in protectionism and said it would show its trade programs conform to WTO rules. The EU took Brazil to the World Trade Organization Thursday, complaining it was using taxes to discriminate against imports and illegally help its exporters
Friday, December 20th 2013 - 06:09 UTC
Venezuela considering increase in gasoline prices, world's cheapest: 2 cents a liter

President Nicolas Maduro said he was contemplating a three-year period to raise domestic fuel prices; a sensitive issue for Venezuela where a similar move helped spark deadly 1989 riots.
Friday, December 20th 2013 - 06:05 UTC
Four million Britons heading overseas for Christmas break; 13 million will take to the roads

Around four million Britons will be heading overseas for the Christmas break, with those staying behind having to contend with packed roads and disrupted rail services.
Friday, December 20th 2013 - 05:57 UTC
Argentina files complaint with WTO against EU duties on bio-diesel

Argentina has filed a complaint with the World Trade Organization against the European Union’s decision to impose anti-dumping duties on its biodiesel exports. The duties are “clearly protectionist” and will affect annual sales worth more than 1.5 billion, Argentina’s Foreign Ministry said on Thursday on its website.
Thursday, December 19th 2013 - 06:01 UTC
Fed announces gradual conditioned tapering of stimuli from next January

The U.S. Federal Reserve will start scaling back its monthly bond-buying program as early as next month, but the reduction will be gradual. The Federal Reserve has been buying 85 billion dollars a month in government bonds in an effort to keep interest rates low and boost economic growth.
Thursday, December 19th 2013 - 05:55 UTC
US congress agrees budget deal reducing risk of government shutdown

On the same day the Federal Reserve announced tapering of stimulus, the US Senate passed a two-year budget deal to ease automatic spending cuts and reduce the risk of a government shutdown, but fights were already breaking out over how to implement the budget pact
Thursday, December 19th 2013 - 05:41 UTC
Euro-zone agrees on banking reform, another step towards banking union

Euro-zone finance ministers have agreed on a long-awaited pact on how to deal with failing banks in the region. It aims to create a 55bn euro fund - financed by the banking industry, over the next 10 years. The fund would be backed by a new agency, which will decide on how to deal with failing banks.
Wednesday, December 18th 2013 - 17:49 UTC
Falklands' budget challenge: how to distinguish recurrent funding from oil windfall income

The Falkland Islands Executive Council, (EXCO), considers essential more public scrutiny to budget affairs discussions so that individuals can better understand what monies are available for ongoing funding and which are windfall incomes from oil related matters.
Wednesday, December 18th 2013 - 16:46 UTC
Falklands to cash 146m dollars from tax on farm-out deal in oil industry

An agreement has been reached between the Falkland Islands government and Rockhopper Exploration regarding tax arising from the Sea Lion farm-out to Premier Oil, an operation involving a billion US dollars, and which according to the settlement generated a credit of 146m dollars for the Islands Treasury.