Economy

• Tuesday, November 29th 2016 - 08:21 UTC

  OECD optimistic about global growth; anticipates strong performance of Argentine economy next year

  

  Fiscal initiatives could boost global economic growth, the Organization for Economic Cooperation and Development (OECD) said Monday in its semi-annual economic forecast. The Paris-based think tank predicted a global gross domestic product (GPD) growth rate of 3.3% in 2017, a figure that remained unchanged from its last outlook released in June.

• Monday, November 28th 2016 - 09:36 UTC

  Doubts about OPEC's production cut agreement make crude oil prices dive

  

  Oil prices fell over 1 percent Monday in Asia following a decline of more than 3 percent Friday over disagreement between members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC exporters like Russia. Brent crude futures LCOc1 were trading at $46.40 per barrel at 0035 GMT (7.35 a.m. ET), down 84 cents, or 1.8 percent, from their last close, while U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 74 cents, or 1.6 percent, at $45.32 a barrel.

• Monday, November 28th 2016 - 08:42 UTC

  UK trade envoy in Brazil to promote business in oil, finance, infrastructure and mining sectors

  

  A United Kingdom member of parliament and Special Envoy for Trade and Investment, Mark Prisk is in Brazil for a round of business talks in the oil and gas, financial services, mining and infrastructure sectors. Mr. Prisk is visiting Brazil for the second time in six months and his agenda will take him to Rio do Janeiro, Belo Horizonte and Brasilia.

• Saturday, November 26th 2016 - 12:18 UTC

  Switzerland has returned US$ 2bn of illicit funds stashed in its banks by dictators

  

  With a new law to help seize and repatriate illicit wealth stashed in Swiss banks by foreign dictators and a positive – but slow - track record, Switzerland is a leader in the return of illicit dictator funds, a top Swiss official claims. Over the past 30 years Switzerland has returned almost US$ 2 billion misappropriated and deposited in Swiss banks by “politically exposed persons” (PEPs).

• Friday, November 25th 2016 - 16:26 UTC

  Peru foresees great economic expansion for 2017

  

  Peru's Economy and Finance Minister Alfredo Thorne said Thursday his country is set to record a growth of 4.8% as next year's budget was passed. Private investment in areas such as infrastructure will be the key.

• Friday, November 25th 2016 - 08:54 UTC

  Uruguayan president off to Europe looking for investors for an ambitious infrastructure plan

  

  Uruguayan president Tabare Vazquez is off to Europe for a two-week business and academic interests trip which begins on Friday in Spain and will continue in the Vatican, Austria and France. On Friday, Vazquez is scheduled to hold a private meeting with King Felipe IV of Spain, and on Monday with president Mariano Rajoy.

• Friday, November 25th 2016 - 08:37 UTC

  Uruguay expects 10% increase in international tourist arrivals this summer

  

  Uruguay's deputy tourism minister said that based on current trends the number of international tourist arrivals during the current summer season, which peaks in December and January, should rise by more than 10%.

• Friday, November 25th 2016 - 08:14 UTC

  Spanish U turn: “Gibraltar will be part of Brexit negotiations; we want to help in this process”

  

  Gibraltar “will be part” of the Brexit negotiations, Spain’s Minister for Education, Culture and Sport said on Wednesday, suggesting a marked shift from the hardline stance adopted by former Foreign Minister José Manuel García-Margallo.

• Thursday, November 24th 2016 - 16:09 UTC

  Brazilian cash-strapped states agree to back structural reform in exchange for financial aid

  

  Brazil's federal government reached a deal to help cash-strapped states with their fiscal woes in exchange for support from governors on deeper structural reforms including pension reform and the capping of public employee salaries.

• Thursday, November 24th 2016 - 14:20 UTC

  No layoffs until March 2017 in Argentina

  

  The Argentine government reached an agreement Wednesday with businessmen and CGT union leaders that there will be no layoffs until March 2017, to give workers reassurances that that there is a commitment to create new jobs and to preserve the existing ones.