Economy

Friday, December 20th 2013 - 06:09 UTC
Venezuela considering increase in gasoline prices, world's cheapest: 2 cents a liter

President Nicolas Maduro said he was contemplating a three-year period to raise domestic fuel prices; a sensitive issue for Venezuela where a similar move helped spark deadly 1989 riots.
Friday, December 20th 2013 - 06:05 UTC
Four million Britons heading overseas for Christmas break; 13 million will take to the roads

Around four million Britons will be heading overseas for the Christmas break, with those staying behind having to contend with packed roads and disrupted rail services.
Friday, December 20th 2013 - 05:57 UTC
Argentina files complaint with WTO against EU duties on bio-diesel

Argentina has filed a complaint with the World Trade Organization against the European Union’s decision to impose anti-dumping duties on its biodiesel exports. The duties are “clearly protectionist” and will affect annual sales worth more than 1.5 billion, Argentina’s Foreign Ministry said on Thursday on its website.
Thursday, December 19th 2013 - 06:01 UTC
Fed announces gradual conditioned tapering of stimuli from next January

The U.S. Federal Reserve will start scaling back its monthly bond-buying program as early as next month, but the reduction will be gradual. The Federal Reserve has been buying 85 billion dollars a month in government bonds in an effort to keep interest rates low and boost economic growth.
Thursday, December 19th 2013 - 05:55 UTC
US congress agrees budget deal reducing risk of government shutdown

On the same day the Federal Reserve announced tapering of stimulus, the US Senate passed a two-year budget deal to ease automatic spending cuts and reduce the risk of a government shutdown, but fights were already breaking out over how to implement the budget pact
Thursday, December 19th 2013 - 05:41 UTC
Euro-zone agrees on banking reform, another step towards banking union

Euro-zone finance ministers have agreed on a long-awaited pact on how to deal with failing banks in the region. It aims to create a 55bn euro fund - financed by the banking industry, over the next 10 years. The fund would be backed by a new agency, which will decide on how to deal with failing banks.
Wednesday, December 18th 2013 - 17:49 UTC
Falklands' budget challenge: how to distinguish recurrent funding from oil windfall income

The Falkland Islands Executive Council, (EXCO), considers essential more public scrutiny to budget affairs discussions so that individuals can better understand what monies are available for ongoing funding and which are windfall incomes from oil related matters.
Wednesday, December 18th 2013 - 16:46 UTC
Falklands to cash 146m dollars from tax on farm-out deal in oil industry

An agreement has been reached between the Falkland Islands government and Rockhopper Exploration regarding tax arising from the Sea Lion farm-out to Premier Oil, an operation involving a billion US dollars, and which according to the settlement generated a credit of 146m dollars for the Islands Treasury.
Wednesday, December 18th 2013 - 06:51 UTC
Argentine mobile phone companies have to adjust rates and charge by the second

Mobile phone companies operating in Argentina will have 60 days to adjust all their rates and charge by the second, Federal Planning Minister Julio De Vido and Communications Secretary Norberto Berner confirmed in a news conference. Companies Personal, Movistar and Claro will only have 15 days to implement the change for new customers according to the resolution published in the Official Gazette.
Tuesday, December 17th 2013 - 19:10 UTC
Uruguay must address fiscal policy (and inflation) suggests leading private bank

The US dollar is poised to continue consolidating during 2014 in Uruguay, and will most probably by the end of the year reach 24 Pesos from the current 21 Pesos, according to Itaú, one of the leading private banks in the country, which also warned about inflation and the fiscal deficit.