Economy

Thursday, September 19th 2013 - 07:55 UTC
Three-day pouring rain and wind storm kills over 30.000 sheep in Uruguay

Thousands of sheep dead, 1.500 people evacuated, blown roofs, flooded roads and farm land was the result of three days non-stop of pouring rainfall and strong winds that punished Uruguay beginning last Friday.
Wednesday, September 18th 2013 - 20:45 UTC
Gibraltar and Spain trade unions call for an end to border crossing dispute

The Gibraltar branch of Unite the Union has joined forces with Spanish unions Comisiones Obreras [CC.OO] and Unión General de Trabajadores [UGT] to underscore their collective concern at the deterioration of cross-border relations because of the on-going dispute.
Wednesday, September 18th 2013 - 20:33 UTC
Fed decides to keep stimulus: fears of economy sluggishness and still slow labour market

In a surprise move after a two-day meeting the US Federal Reserve said on Wednesday that it would continue buying bonds at a rate of 85 billion dollars monthly and expressed concern that a sharp rise in borrowing costs in recent months could weigh on the economy.
Wednesday, September 18th 2013 - 20:00 UTC
Argentina’s Vaca Muerta formation among the world’s 23 highest tight oil reserve areas

The Vaca Muerta formation in the Argentine provinces of Neuquén and Mendoza has been ranked among the 23 highest tight oil reserve areas in the world, according to to a report released yesterday by global information company IHS.
Wednesday, September 18th 2013 - 06:43 UTC
China will help Venezuela develop a huge oil field investing 14bn dollars

China’s hydrocarbons company Sinopec and Venezuela’s PDVSA (Petroleos de Venezuela SA) agreed investments to develop the Junin 1 oil field in the Orinoco oil strip, which will demand 14 billion dollars for a daily extraction of 200.000 barrels, said PDVSA president Rafael Ramírez currently in Beijing.
Wednesday, September 18th 2013 - 01:55 UTC
Paraguay expects to return to Mercosur in 2014; Chile offers closer links and access to the Pacific

President Horacio Cartes said that during 2014 links between Paraguay and Mercosur will be fully re-established and by then all the skirmishes motivated by the access of Venezuela as full member of the group, “will be overcome”. However Cartes also mentioned that Paraguay, with support from Chile has a strategic access to the Pacific basin.
Wednesday, September 18th 2013 - 01:07 UTC
British government successfully sells 6% stake at Lloyds and collects £3.2bn

The British government has sold a 6% stake in Lloyds Banking Group at a price of 75p a share, raising £3.2bn. The disposal cuts the government's stake in Lloyds from 38.7% to 32.7% and represents a cash profit of £61m for the Treasury.
Wednesday, September 18th 2013 - 00:32 UTC
Barclays ‘worst bank for honesty and customer service’ says UK ‘Move Your Money’ rating

Barclays is the worst bank for honesty and customer service, according to an ethical scorecard launched Monday in the UK to guide those looking to switch their current accounts. The bank picked up just four out of 100 points in campaign group Move Your Money’s ratings, with the five biggest banks among the poorest performers in the 70 that were assessed.
Tuesday, September 17th 2013 - 07:10 UTC
Argentina ratifies interest in Mercosur, but Brazil wants negotiations now

The government of President Cristina Fernandez told the business community on Monday that Argentina has an interest in a ‘balanced’ negotiation between Mercosur and the European Union to reach a political, association and trade agreement. However the timetable approach of Argentina does not seem to fit with the rest of Mercosur, mainly Brazil.
Tuesday, September 17th 2013 - 06:59 UTC
Tax incentives in Argentina top bolster the domestic software industry

Argentina is creating new tax incentives to bolster a domestic software industry that is expected to generate sales of 3.75 billion dollars this year, including 900 million in exports. The incentives take effect this week and are to remain in place through the end of 2019.