Economy

Tuesday, August 12th 2014 - 05:44 UTC
Brazilian government anticipates 6% hike in fuel prices, after October election

Brazilian president Dilma Rousseff admitted on Monday the government could increase domestic fuel prices at refineries by up to 6% after the October presidential election. The increase of 5.5% and 6% is a preliminary calculation and is geared to help prop the finances of the government managed oil and gas giant Petrobras.
Monday, August 11th 2014 - 22:24 UTC
Global economic recovery remains 'disappointing' says Fed's Vice Chairman

US Federal Reserve Board Vice Chairman Stanley Fischer said that the economic recovery has been and remains “disappointing” and made it clear that he expects monetary policy to continue to play a significant role in encouraging growth in the future.
Monday, August 11th 2014 - 22:19 UTC
Leading economies showing overall steady growth trend, says OECD

Leading economies are showing a steady growth trend overall, although Britain is doing particularly well and Japan and Germany are showing signs of losing pace, the OECD (Organization for Economic Cooperation and Development) said on Monday.
Monday, August 11th 2014 - 09:40 UTC
FAO July Food Price Index at its lowest level since January 2014

The FAO Food Price Index averaged 203.9 points in July 2014, down 4.4 points (2.1 percent) from a revised value in June and 3.5 points (1.7 percent) below July 2013. While meat prices rose for the fifth consecutive month and sugar remained firm, sharp declines in grains, oilseeds and dairy quotations pushed down the FAO Food Price Index to its lowest level since January 2014.
Monday, August 11th 2014 - 08:11 UTC
Brazil oil output at record 2.246m bpd in June: 6.9% higher over a year ago

Brazilian oil output reached a record 2.246 million barrels per day (bpd) in June and exceeded the previous record of 2.231 million bpd in January 2012, the National Agency of Petroleum (ANP) reported. Output is up 2.6% from May 2014 and 6.9% June on June.
Monday, August 11th 2014 - 08:06 UTC
Brazil's July inflation surprises and slows to 0.01%, and 6.5% in twelve months

Brazil's Broad Consumer Price Index (IPCA) ended July at 0.01%, the Brazilian Geography and Statistics Institute (IBGE) reported. This figure reflects a decrease compared to June (0.4%) with transport and personal expenses items, contributing for the reduction.
Saturday, August 9th 2014 - 07:45 UTC
Despite warning, Kicillof again defies and again accuses Griesa of 'partiality'

Economy ministry Axel Kicillof once again defiantly insisted Argentina has made a required debt payment on restructured sovereign bonds on Friday night, just hours after a U.S. judge threatened a contempt-of-court order if Argentina did not stop issuing such statements.
Saturday, August 9th 2014 - 07:34 UTC
Griesa warns Argentina with 'contempt' if it continues with “false and deceiving statements”

New York district judge Thomas Griesa on Friday threatened to declare Argentina in “contempt” of court if the Republic continues to make “false and deceiving statements,” following Argentina’s claim it has already paid exchange bondholders and has no pending obligations, as it deposited 539 million dollars in bond payments in Bank of New York Mellon (BoNY) and Citibank.
Saturday, August 9th 2014 - 06:49 UTC
ECB to make more transparent European banks quality and potential litigations

The European Central Bank will consider the impact of future lawsuits and fines in its review of whether the Euro zone's 131 most important lenders have enough capital to withstand another recession.
Saturday, August 9th 2014 - 06:33 UTC
Bank of England inflation forecast, next week could give an idea on future hike

The Bank of England opted this week to keep its main interest rate at a record-low level of 0.50% against a backdrop of solid British economic growth. The central bank's nine-member monetary policy committee decided also to maintain the level of cash stimulus in the economy at £375 billion, it said in a statement.