Economy

Friday, January 17th 2014 - 07:57 UTC
Falklands oil companies agree on tension leg platform for development of Sea Lion field

The Tension Leg Platform option is the most suitable technical and commercial solution for the development of the Falklands' Sea Lion field, according to the recommendation from field operator Premier Oil, said Rockhopper Exploration in an official release, which also announced further drilling is expected in the next twelve months.
Friday, January 17th 2014 - 07:29 UTC
US Congress supports budget peace for the rest of the fiscal year

Washington's battles over government funding ended with a whimper today as the US Senate approved a 1.1 trillion dollars spending bill that quells for nearly nine months the threat of another federal agency shutdown.
Friday, January 17th 2014 - 07:09 UTC
US Congress wants action on banks involved in the commodities business

United States lawmakers are pressing the Federal Reserve to act more forcefully, and quickly, to limit banks’ involvement in the commodities business, which has been blamed for inflating prices on everyday items like electricity and canned beverages.
Friday, January 17th 2014 - 07:00 UTC
Chile's main ports remain paralyzed amid clashes with police and suspended negotiations

Chile's main ports continued paralyzed as negotiations between striking workers and authorities are at an impasse and ugly skirmishes with police play out amid millions of cases of perishable export produce which are likely to spoil.
Thursday, January 16th 2014 - 09:34 UTC
Argentine central bank reserves fall below the 30bn dollars threshold

Argentine central bank international reserves continued to erode and on Wednesday pierced through the 30bn floor threshold reaching 29.858bn dollars, the lowest level since November 2006. On Tuesday reserves stood at 30.019bn.
Thursday, January 16th 2014 - 09:22 UTC
US dollar reaches new record in Argentina, 11.25 Pesos

The US dollar in Argentina continued to climb on Wednesday and reached new highs both in the official market and in parallel trading or the 'blue market'. The official rate closed at 6.75 Pesos to the greenback while the 'blue' reached a record 11.25 Pesos (selling price) with a 66.5% gap between both markets.
Thursday, January 16th 2014 - 09:17 UTC
Brazil raised the benchmark rate to 10.5%: combating inflation the target

Brazil's central bank raised its benchmark interest rate on Wednesday to 10.50% from 10%, a larger-than-expected hike aimed at curbing inflation in spite of a weak economy. The decision by the bank's monetary policy committee, Copom, was unanimous.
Thursday, January 16th 2014 - 09:04 UTC
Open pit mining project in Uruguay questioned in Parliament and by environmentalists

A major open pit mining project in Uruguay to extract and export magnetite (a kind of iron ore) and which the government of President Jose Mujica plans to instrument this month has been exposed to a battery of criticism because the administration refuses to show the terms of the contract and farm groups argue there is no final environment impact assessment study.
Wednesday, January 15th 2014 - 19:29 UTC
GM will pay its first dividend since 2008; sales jump in China and United States

US carmaker General Motors (GM) said it will resume dividend payments, capping a remarkable turnaround since its 2009 bailout by the US government. It will pay a dividend of 30 cents per share, the first since July 2008.
Wednesday, January 15th 2014 - 19:24 UTC
Uruguay among the world's ten countries with highest inflation

Uruguay is ranked among the world's ten countries with the highest inflation, having climbed from position 15 to 10 last year, only surpassed in Latin America by Venezuela and Argentina. Last year Uruguay ended with an inflation of 8.52%, well above the 4% to 6% target, and according to Central bank officials “it remains the main challenge for the country's economic policy”.