Economy

• Wednesday, September 25th 2013 - 04:44 UTC

  Falkland Islands next round of oil exploration drilling announced for late 2014

  

  One of the several hydrocarbons companies operating in Falkland Islands waters expects its next drilling phase to begin in the fourth quarter of 2014 with a minimum of two exploration wells following extensive 3D surveying of southern licences in the Diomedea fan complex adjacent to the Darwin discovery.

• Tuesday, September 24th 2013 - 08:07 UTC

  Brazil will continue with the 60bn dollar currency intervention program: ‘it’s working adequately’

  

  Brazil’s central bank chief Alexandre Tombini said on Monday policy makers will continue with their 60 billion dollars currency intervention plan, even after the Real rallied more than any other currency in the world as a consequence of the surprise announcement from the US Fed that for the moment it will not taper the bonds’ buying program to stimulate the US economy

• Tuesday, September 24th 2013 - 08:04 UTC

  Argentine trade balance collapsed 60% in August because of the energy import bill

  

  Argentina’s trade balance collapsed 60% during August compared to a year ago because of stagnant exports and the doubling of energy imports according to the latest release from the government’s stats office, Indec.

• Monday, September 23rd 2013 - 20:56 UTC

  Brazil’ Bovespa implementing changes to update its benchmark Ibovespa

  

  Brazil’s main stock exchange Bovespa is implementing changes to its benchmark Ibovespa stock index, the first since 1968, in an effort to correct recent distortions and better reflect the performance of local shares.

• Monday, September 23rd 2013 - 19:14 UTC

  First signals of US congressional clash: Republicans vote to cut food stamp benefits

  

  US lawmakers have narrowly voted to cut food stamp benefits from next year despite a veto threat from the White House and opposition from lobby groups. The Republican-led House of Representatives passed the bill by 217-200. But it has little chance in the Democratic-held Senate.

• Monday, September 23rd 2013 - 18:56 UTC

  Brazil insists that Libra oil field auction was a major success

  

  Brazil’s government is planning to give a boost to state-run oil company Petróleo Brasileiro by financing its participation in the October 21 auction of Libra, the country’s largest-ever oil discovery, the O Estado de Sao Paulo newspaper reported over the weekend.

• Monday, September 23rd 2013 - 18:48 UTC

  Egypt for Sale

  

  Three years has seen the overturn of two government, the deaths of thousands of people and the destruction of much of the Egyptian economy. In the end, the mobs have changed nothing, except to make their own lives more miserable.

• Monday, September 23rd 2013 - 16:50 UTC

  Venezuela takes over toilet paper factory in order to avoid “nationwide shortage”

  

  The Venezuela government has temporarily taken over a toilet paper factory in order to avoid a nationwide shortage. The decision was implemented by the National Guard which took control of the ‘Manufacturas de Papel’ plant and authorities will now oversee and monitor its production.

• Monday, September 23rd 2013 - 16:41 UTC

  China/Venezuela cooperation agreements involving 20bn dollars including 5bn credit

  

  Venezuelan President Nicolas Maduro and his Chinese counterpart, Xi Jinping, said they were committed to consolidating the strategic alliance between their two countries during a meeting in Beijing at which they signed a dozen cooperation and investment agreements worth 20 billion dollars.

• Friday, September 20th 2013 - 20:58 UTC

  JP Morgan-Chase pays hefty fine in the US and UK; former staff face criminal charges

  

  US bank JP Morgan Chase has agreed to pay four regulators 920 million dollars relating to a 6.2bn loss incurred as a result of the “London Whale” trades. The settlement is the third biggest banking fine by US regulators, and the second largest by UK regulators. As part of the deal JP Morgan admitted violating US federal securities laws.