Economy

Wednesday, December 31st 2014 - 03:23 UTC
Venezuela admits recession in the last three quarters and inflation of 63.6%

Venezuela confirmed on Tuesday it had entered a recession while inflation remained the highest in the Americas, but President Nicolas Maduro's populist government blamed political foes for the dismal data. According to the latest Central bank information, GDP contracted in each of the first three quarters: 4.8%, 4.9% and 2.3%, while twelve-month inflation reached 63.6% in November.
Wednesday, December 31st 2014 - 02:54 UTC
Russia's Gazprom takes 100% control of major international gas pipeline

Russia’s gas giant Gazprom said in a release on Monday it had signed a deal with Eni, Wintershall and EDF on the purchase of 50% of shares in South Stream Transport BV. Thus, Gazprom will be a 100% owner of the company.
Wednesday, December 31st 2014 - 02:33 UTC
Legal framework to restructure sovereign debts receives strong UN boost

The U.N. General Assembly approved this week the financing of a plan to develop a new legal framework to restructure national debts, a move aimed at avoiding the kind of speculative action that led Argentina to a second default.
Tuesday, December 30th 2014 - 09:49 UTC
Brazil: Dilma facing new challenges for her second term in office

Analysts agree fiscal austerity and economic growth will be among the new government's priorities.
Tuesday, December 30th 2014 - 08:20 UTC
Capitanich says Sancor to sell baby formula to China

The Argentina firm joins the ranks of the international producers authorised to enter the Asian country's market.
Tuesday, December 30th 2014 - 07:53 UTC
Uruguay watching Russia's 'perfect storm' closely

Uruguay's Economy Minister Mario Bergara and Vicepresident Danilo Astori agree on how Russia's situation will affect the South American country's trade balance and whether it may or may not have a direct impact on beef exports.
Tuesday, December 30th 2014 - 07:49 UTC
US dollar set aside - China, Russia trade in local currencies

New financial tools come into force as buffer against vulnerability to exchange rate fluctuations.
Monday, December 29th 2014 - 20:09 UTC
Did The Saudis And The US Collude In Dropping Oil Prices?

The oil price drop that has dominated the headlines in recent weeks has been framed almost exclusively in terms of oil market economics, with most media outlets blaming Saudi Arabia, through its OPEC Trojan horse, for driving down the price, thus causing serious damage to the world's major oil exporters – most notably Russia.
Monday, December 29th 2014 - 08:04 UTC
Lopez: 'Venezuela on the brink of collapse'

Human rights traded for other means of survival as shortages hit average people, says the 43-year-old Harvard graduate from his prison cell in a letter to the Wall Street Journal .
Monday, December 29th 2014 - 07:57 UTC
YPFB-Andina awarded exploration rights in Santa Cruz areas

Bolivia's export 6.3 % higher than despite drop in gas volumes. Economic growth, foreign investment continue