Economy

Thursday, May 29th 2014 - 06:00 UTC
US Lower House approves legislation to impose sanctions on Venezuela

The US House of Representatives passed legislation on Wednesday, to impose sanctions on Venezuelans responsible for human rights abuses during anti-government protests, despite Obama administration worries that they could threaten talks seeking to ease the unrest.
Thursday, May 29th 2014 - 05:51 UTC
Brazil's central bank opted to leave rate unchanged at 11%, “at this moment”

Brazil left its benchmark interest rate unchanged on Wednesday. In a unanimous decision, the central bank's monetary policy committee, Copom, kept the Selic rate at 11%, breaking a streak of nine consecutive hikes as expected by a majority of analysts and market traders.
Thursday, May 29th 2014 - 05:37 UTC
Argentina announces an understanding with the Paris Club on defaulted debt

Following twelve hours of discussions the Argentine delegation headed by Economy Minister Axel Kicillof managed on Wednesday to agree the main points for Argentina to overcome the approximately 9.5bn dollars default with countries that make up the Paris Club, according to late reports from the French capital.
Wednesday, May 28th 2014 - 00:19 UTC
Venezuela airline tickets to rise 350% beginning July first; part of a deal to pay pending debt

As airlines cut service to Caracas and Venezuela struggles with a continuing debt crisis, the government of President Nicolás Maduro revealed that it would raise all international airline ticket prices by 350%. The measure should allow to pay part of the 4 billion dollars owed to foreign airlines, according to the government.
Tuesday, May 27th 2014 - 11:01 UTC
Brazil considering proposals to open operatorship of pre-salt projects

Brazil's government is considering proposals to open operatorship of its pre-salt projects to companies other than state-run Petrobras and this change might be made, Mayer Brown partner Alexandre R. Chequer told the law's firm's annual energy conference in Houston last week.
Tuesday, May 27th 2014 - 09:49 UTC
Brazil central bank at a cross road: fosters growth or combats inflation

Analysts forecast Brazil's central bank will leave its benchmark interest rate unchanged at 11% this week, with the world's seventh-largest economy caught between rising inflation and sluggish growth. But given the persistence of inflation it should not come as a surprise if the monetary policy committee raises Selic to 11.25% after its two-day meeting this week.
Tuesday, May 27th 2014 - 09:33 UTC
IMF Lagarde calls on central banks to cooperate on policy moves

As the United States Federal Reserve debates the timing of its first interest rate hike since 2006, International Monetary Fund (IMF) Managing Director Christine Lagarde is urging central banks to cooperate on policy moves.
Tuesday, May 27th 2014 - 08:34 UTC
Argentina in another negotiating round with the Paris Club of creditors

Argentina's Economy Minister Axel Kicillof has assured that progress has been made with creditors in the Paris Club as the politician left Monday evening for France in preparation for talks with the financial institution over restructuring Argentina's debt, estimated in 9.5bn dollars.
Monday, May 26th 2014 - 21:15 UTC
Shrimp saves the day for Argentine seafood exports in first four months

Argentina seafood exports totaled 116,738 tons during the first four months of the year, which shows an increase of 2.9% over the same 2013 period in 2013, when 113,419 tons were shipped abroad. Strong shrimp exports helped offset lower volumes of fish.
Monday, May 26th 2014 - 08:24 UTC
Argentine industrial activity drops 4.2% in April; auto industry hit by lower sales

After a decade of growth, the Argentine government faces this year a decline as industrial output falls and a high inflation rates hits consumer spending and new investment. The Argentine economy grew steadily recovering from a 2001-2003 debt crisis and expanded 3% last year but it stumbled in the fourth quarter and could slid into a recession at the start of this year.