Economy

Wednesday, November 6th 2013 - 02:05 UTC
US Treasury and IRS announce further steps to curtail offshore tax evasion

The United States Department of Treasury says it is taking steps to curtail offshore tax evasion in the Caribbean and other places. The US Treasury Department along with the US Internal Revenue Service (IRS) have issued a notice for foreign financial institutions (FFIs) to comply with information reporting and withholding tax provisions of the Foreign Account Tax Compliance Act (FATCA).
Tuesday, November 5th 2013 - 13:50 UTC
Brazil consumer watchdog orders airlines to reduce 'abusive' domestic fare for 2014 World Cup

Brazil's consumer watchdog Procon Rio do Janeiro branch has ordered five airlines to reduce “abusive” domestic fares during next year's FIFA World Cup. Avianca, TAM, Gol, Azul and Oceanair have been accused of inflating prices up to 10-fold during the June 12-July 13 tournament.
Tuesday, November 5th 2013 - 07:56 UTC
Uruguay October inflation 0.82% and 9.09% in the first ten months of 2013

Uruguay's consumer prices' index increased 0.82% in October, and 8.67% in the last twelve months but 9.09% in the first ten months of the year, according to the latest release from the country's Stats Office, INE.
Tuesday, November 5th 2013 - 01:24 UTC
Falklands' government announces updated version of Oil Readiness Checklist

The Falkland Islands Government has announced that an updated version of the FIG Oil Readiness Checklist is now available online. The checklist refers to key areas from the FIG ongoing program for the development of the hydrocarbons industry as it grows into a production phase.
Monday, November 4th 2013 - 06:01 UTC
Botnia/UPM controversy: Argentina retaliates delaying Uruguayan exports

Argentina's clash with Uruguay over the Botnia/UPM pulp mill has led to furious retaliations from Buenos Aires severely limiting trade and not allowing Argentine exporters to make use of the port of Montevideo for transshipment.
Monday, November 4th 2013 - 05:54 UTC
Cristina Fernandez wants Argentine tourists to remain and visit Argentina

The administration of President Cristina Fernandez is preparing a package of measures in an attempt to further impede the outflow of hard currency, mainly US dollars, for which it is planning to establish a double exchange rate system. The measures target tourism, a bill of 8 billion dollars which has become dearer than the energy deficit.
Monday, November 4th 2013 - 05:43 UTC
Uruguay extends UPM pulp mill production license for another three years

The Uruguayan government announced it has renewed until 2016 Botnia/UPM pulp mill license so it can continue with production since it complies with the necessary environmental requisites and is committed to the additional standards demanded, said Housing and Environment minister Francisco Beltrame.
Monday, November 4th 2013 - 00:30 UTC
IDB financing for private sector 90 MW wind farms in Uruguay

The Inter-American Development Bank (IDB) approved a private sector loan for up to 132.6 million to partially finance the construction of the Carapé I and II wind farms in Uruguay.
Sunday, November 3rd 2013 - 00:47 UTC
Falklands considering alternative financial services in the form of a credit union

A locally owned and managed credit union, “run by the people that it serves” that would provide savings, credit and other financial services to its members, is the subject of a newly released suitability study by the Falkland Islands Development Corporation (FIDC) and was discussed at public consultation meetings at the Chamber of Commerce and the Goose Green Social Club this week.
Sunday, November 3rd 2013 - 00:42 UTC
Brazil posted in September its highest primary budget deficit in five years

Brazil posted a primary budget deficit of 9.048 billion Reais (4.1 billion dollars) in September, its biggest in nearly five years and the government reacted announcing a plan of cuts fearing an impact from credit rating agencies.