Economy

• Wednesday, December 17th 2014 - 00:53 UTC

  Brazil's real sinks against US dollar to lowest rate in 10 years

  

  The currency closed at R$ 2.76 per US$ 1 dollar. Domestic politics, international oil prices, US Fed measures and Russian ruble drop to blame.

• Saturday, December 13th 2014 - 04:37 UTC

  Brazil confident since pre-salt oil is profitable 'even at 60 dollars a barrel'

  

  The head of Brazil's National Petroleum Agency, Magda Chambriard said that the country's oil production projects remain 'robust' even as international prices for crude continue to tumble. She underlined that the pre-salt projects of Brazil along ist coast resist prices as low as 60 dollars a barrel.

• Saturday, December 13th 2014 - 04:07 UTC

  Argentina purchases four Russian multipurpose polar Supply-class tugs

  

  Argentina's ministry of Defense has signed an agreement for the purchase of four Russian-built multipurpose polar tugs, class NEFTEGAZ, at a total cost of just over eight million dollars.

• Friday, December 12th 2014 - 21:49 UTC

  Dutch oil platform leasing company cutting 11% of global workforce

  

  Dutch oil platform leasing company SBM Offshore is cutting 1,200 jobs, or slightly more than 11% of its global workforce, as part of a cost-saving program.

• Friday, December 12th 2014 - 07:16 UTC

  US Congress passes 1.1tn budget which funds government until 09/2015

  

  The US House of Representatives has passed a 1.1tn dollar budget hour before government was due to shut down at midnight on Thursday. The Republican measure passed by 219 votes to 206 after President Barack Obama had urged Democrats to support the measure.

• Friday, December 12th 2014 - 07:06 UTC

  Brazil hikes soybean harvest estimate by 5.3m to 95.8 million tons

  

  Brazil's commodities bureau, Conab hiked by 5.3 million tons to 95.8 million tons its forecast for the country's soybean crop, reversing the negative trend in harvest forecasts, citing the benefit from rains in some southern areas. The previous estimate for the crop to be harvested early next year was 90.5m tons.

• Friday, December 12th 2014 - 06:54 UTC

  Record year for Falklands' fish catches

  

  THIS year will be marked as one of the most successful years in the history of the Falkland Islands fishery with several record catches registered and the total catch of all species in Falkland waters this month reaching a record of 451,000 tonnes.

• Friday, December 12th 2014 - 06:43 UTC

  Switzerland charges former HSBC analyst with industrial espionage

  

  Switzerland has charged a former computer analyst at HSBC's private bank in Geneva with industrial espionage and breaching the country's secrecy laws for passing confidential client data to foreign authorities.

• Friday, December 12th 2014 - 06:16 UTC

  Financial aid from Brazilian government for scandal-hit Petrobras

  

  Brazil's government is wrapping up a financing plan for Petrobras aimed at ensuring the scandal-hit state-controlled oil giant can obtain the funding it needs for its massive investment program.

• Thursday, December 11th 2014 - 12:46 UTC

  Falling world oil prices shatter Argentine stocks for second day running

  

  Argentine stocks closed down 6.85% Wednesday, weighted down by falling oil prices for a second day of heavy losses. As oil prices sank to new five-year lows, the Merval stock index in Buenos Aires shed more than 600 points to 8,279.04, after losing 7.22% Tuesday.