Economy

Thursday, December 11th 2014 - 12:40 UTC
FAO food price index in November remained stable for third month running

FAO's monthly food price index was stable in November, as vegetable oil and grain prices inched up and offset ongoing declines in dairy prices. The Food Price Index averaged 192.6 points, marking the third consecutive month of stability. The Index now stands 13 points, 6.4 percent below its level in November 2013.
Thursday, December 11th 2014 - 12:04 UTC
Malaysia's Petronas and YPF sign 550 million deal to develop shale deposits in Patagonia

YPF SA and Petroliam Nasional Bhd, state-controlled companies from Argentina and Malaysia, signed a 550 million dollars deal to drill fields at the world’s fourth-largest shale oil deposit in Patagonia’s Vaca Muerta, south Argentina.
Thursday, December 11th 2014 - 11:29 UTC
Argentine argues before NY Appeals court the central bank is not an 'alter ego' of the administration

Lawyers representing the Argentine government and the Central Bank have defended the country's stance on the debt conflict in a hearing with the New York Second Circuit Appeals Court, rejecting the notion that holdout investors could confiscate reserves or assets belonging to the financial entity.
Wednesday, December 10th 2014 - 07:56 UTC
Weaker Latin American currencies against the US dollar next year

Latin American currencies will lose value against the US dollar in 2015 because of the strong US recovery and lower commodities' prices according to Itau-Unibanco, Brazil's largest private bank which also anticipates a strong fiscal adjustment by President Dilma Rousseff's next administration, in an effort to regain investors' 'confidence'.
Tuesday, December 9th 2014 - 08:52 UTC
“Kicillof's economy post still too big for him, but he has changed a lot in a year”

The head of the Argentina's powerful manufacturing lobby, UIA, Hector Mendez fired harsh words against Economy Minister Axel Kicillof stressing “his post is still too big for him”, but admitted he 'has advanced' in the last twelve months.
Monday, December 8th 2014 - 11:12 UTC
Dilma Rousseff after quick transition in Finance given the fiscal deterioration

Brazil's new economic team headed by Joaquim Levy is expected to take office sometime in the next few days after the ruling coalition of President Dilma Rousseff finally managed Congress to approve a loosening of this year's budget targets including the crucial primary budget.
Monday, December 8th 2014 - 07:12 UTC
Road ahead for Latin America 'increasingly bumpy' says IMF Lagarde

Latin America faces a rocky road ahead despite social and economic achievements in recent years, according to the head of the International Monetary Fund Christine Lagarde. Among the achievements in the last two decades and in most nations, Ms Lagarde mentioned low inflation, fiscal discipline, and financial stability.
Monday, December 8th 2014 - 07:04 UTC
Lagarde wishes to continue improving relations with Argentina

The head of the International Monetary Fund Christine Lagarde said she wishes to “continue improving” the relationship between the IMF and Argentina, while at the same time focusing on the necessities of the region's third largest economy which is not growing as fast as it should.
Saturday, December 6th 2014 - 08:26 UTC
More jobs for the US economy in November: 241.000 a month this year

The US economy added 321,000 jobs in November, while the unemployment rate stayed at 5.8%, official Labor Department figures showed on Friday. The number of jobs created was well above analysts' forecasts of about 225,000 new jobs in the month.
Saturday, December 6th 2014 - 04:44 UTC
Argentina stats: IMF sees advances, but the issue is a heated debate in Congress

The International Monetary Fund has expressed conformity with the achievements made by the Argentine government regarding the updating of the country's statistics, and hoped to finish its evaluation in February, Director Christine Lagarde announced during a press conference in Santiago de Chile.