Economy

• Friday, December 2nd 2016 - 07:58 UTC

  Strong interest for Falklands' squid licenses, despite poor catches in 2016

  

  Despite a dismal last season for Illex fishing in the Falkland Islands, with very low catches, interest in licenses for the coming season is holding up and the process is likely to be oversubscribed, confirmed MLA Phyl Rendell last week.

• Thursday, December 1st 2016 - 19:56 UTC

  Magallanes Region, extreme south of Chile with the best third quarter performance

  

  Magallanes Region, in the extreme south of Chile, was the region with the strongest economic activity during the third quarter compared to the same period a year ago. Magallanes was closely followed by the regions of Tarapacá and Atacama to the north of the country, according to the latest release from the stats office, INE.

• Thursday, December 1st 2016 - 15:39 UTC

  Argentine Senate passes 2017 Budget, caps Executive's “super powers” to reallocate funds at will

  

  The Argentine Senate passed Wednesday the 2017 National Public Administration Budget bill and approved a reform to the Financial Administration Law, which limits the Executive Branch's discretion and power to reallocate budget items.

• Thursday, December 1st 2016 - 15:30 UTC

  Russia ready to do its part as OPEC countries agree on oil output cut

  

  As the Organization of Petroleum Exporting Countries (OPEC) has reached a deal among all 14 members to cut oil production for the first time since 2008, Russia's Energy Minister Alexander Novak said his country was ready to do its part by reducing 300,000 barrels per day in the first half of 2017, provided OPEC adheres to the level of 32.5 mln barrels daily adjusted for Indonesia and on condition of maximum reciprocity from other non-OPEC countries. Russia is not an OPEC member.

• Thursday, December 1st 2016 - 14:00 UTC

  ºBrazil central bank lowers Selic rate to 13.75%; warns about global uncertainty

  

  Brazil's central bank cut its key interest rate Wednesday for the second month running, as data showed that the recession hitting Latin America's largest economy continued into the third quarter. The central bank lowered the benchmark Selic rate by a quarter of a percentage point, to 13.75% -- still one of the world's highest.

• Wednesday, November 30th 2016 - 10:49 UTC

  Maduro's Bolivar devalued 60% in November: 3,684 Bolivares to one US dollar

  

  Leaders of the Venezuelan opposition have blamed President Nicolas Maduro's regime of causing the Bolivar to devalue to unprecedented levels against the U.S. dollar. According to data provided by the currency tracking website DolarToday, the Venezuelan Bolivar fell this week to an all-time low against the U.S. dollar in the black market.

• Wednesday, November 30th 2016 - 10:14 UTC

  Brazil economic outlook lowered according to Central bank survey

  

  Economists again lowered their outlook for Brazil's economic performance in 2016 and 2017, as the effects of a deep recession persist in Latin America's largest economy.

• Wednesday, November 30th 2016 - 09:31 UTC

  Temer signs bill that opens sub-salt oil deposits to private the sector

  

  Brazilian president Michel Temer signed legislation on Tuesday which opens the way for oil companies other than state-controlled Petrobras to operate the coveted sub-salt acreage. The bill repeals a controversial 2010 rule that requires Petrobras to hold a minimum 30% operating stake in assets governed by production-sharing contracts, mainly sub-salt assets.

• Tuesday, November 29th 2016 - 08:49 UTC

  Brazil lost 751,800 formal jobs in ten months of 2016

  

  Brazil lost 751,800 formal jobs from January to October 2016, the country's Labour Ministry reported. According to the ministry's unemployment registry, the figures are only slightly better than the same period last year, when the Brazilian economy registered a net loss of 818,900 jobs.

• Tuesday, November 29th 2016 - 08:37 UTC

  Brazil anticipates soy exports of 60m tons and 30m tons of corn from 2017

  

  Brazil is getting ready for a blockbuster 2017 harvest and booming exports, amid favorable weather forecasts, according to recent estimates. With a plentiful harvest expected, Brazil’s National Grain Association predicts grain exports will rebound, with soybean exports of 60 MT in 2017, compared with some 51 MT for 2016. Corn exports will increase to 30 MT, compared with some 18.5 MT in 2016, the association reported.