Economy

• Tuesday, November 19th 2013 - 08:43 UTC

  Argentina vs. hedge funds: Appeals court latest ruling opens the way to the US Supreme Court

  

  A United States appeals court on Monday declined to reconsider an order requiring Argentina to pay 1.33 billion dollars, ruling in favor of bondholders who refused to participate in two debt restructurings spinning out of the country's 2002 default.

• Tuesday, November 19th 2013 - 00:24 UTC

  Falklands established national minimum wage and legislation: £ 5.05 per hour

  

  Sunday 1st December 2013 marks the introduction of the new National Minimum Wage legislation for the Falkland Islands. From this date, employers are required by law to pay their workers aged 18 years and over a minimum of £5.05 per hour, equivalent to approximately 8.13 dollars (or £3.10 per hour for workers aged 16 or 17 years).

• Monday, November 18th 2013 - 22:25 UTC

  Argentina's annual economic activity grew 4.7% in September, says Indec

  

  Argentina's economic activity grew 4.7% in September compared with the same month last year, according to the government's much questioned stats office, INDEC. Market expectations were in the range of 3.9%.

• Monday, November 18th 2013 - 18:33 UTC

  Astori forecasts Uruguay's inflation in the range of 3 to 7% in the next two years

  

  Vice-president Danilo Astori confirmed that Uruguay will continue with its current flexible foreign exchange policy, because “this has helped us reduce volatilities”, but also admitted concern about inflation, the third highest in South America and fourth in Latin-American and the Caribbean.

• Friday, November 15th 2013 - 16:15 UTC

  Deliver or Die: Financial Survival Challenges for Today’s Junior Oil Companies

  

  Long gone are the days of easy money, so it seems. Junior energy companies are finding today’s capital to be more expensive and harder to access. In the current market, juniors are fighting an ongoing battle just to balance sustainable growth, manage debt, and to compete with peers for dollars that just aren’t there. When assessing a junior, one must look at how they put their budgets together and maintain them if they’re to survive out there in the wild.

• Thursday, November 14th 2013 - 21:39 UTC

  EU approves 2014 budget 7% lower; 62bn Euros to stimulate growth and jobs

  

  The European Union has clinched a deal on a sharply trimmed 2014 budget after a marathon 16-hour session ending a long dispute over how best to spend taxpayers' money. After decades of growth, next year's EU budget is set to be around 7% lower than this year's at 135.5 billion Euros in contributions by member states.

• Thursday, November 14th 2013 - 19:09 UTC

  Japan unveils floating wind farm off the coast of the defunct Fukushima

  

  Japan unveiled a new wind farm off the coast of Fukushima last week. Only thirteen miles offshore from the Fukushima Daichi nuclear power station, the same nuclear station that notoriously attracted the world's attention during the 2011 Japanese tsunami, the new wind farm is expected to produce upwards of one gigawatt from 143 wind turbines. For comparison, the now-inoperable Fukushima Daichi nuclear power plant could provide 4.4 gigawatts.

• Thursday, November 14th 2013 - 18:40 UTC

  Uruguay complains at Mercosur against Argentine resolution limiting ports' transshipments

  

  Uruguay made a formal complaint against Argentina before Mercosur regarding the administration of President Cristina Fernandez decision banning Argentine exports from transshipment in Uruguayan ports. The complaint was filed on Wednesday in Caracas at Subgroup 5 which addresses Mercosur maritime transport by Uruguay's Deputy Transport minister Pablo Genta.

• Thursday, November 14th 2013 - 18:30 UTC

  Business climate in Latam receives 'unfavorable' assessment from Brazil's leading foundation

  

  The business climate (ICE) in Uruguay was down in the third quarter of the year, which means the country dropped from position 5 to 7 in the ranking of the eleven economies contemplated in the index elaborated by the Brazilian Getulio Vargas Foundation and Germany's respected IFO.

• Thursday, November 14th 2013 - 18:07 UTC

  Uruguay and US reach sanitary agreement on boneless lamb, beef, offal and live cattle

  

  Boneless and matured lamb and mutton from Uruguay will have access to the United States market as of next 29 November. The announcement was made in Montevideo by visiting US Agriculture Under Secretary Edward Avalos, following its publication in the US Federal Registry and means the conclusion of nine years of negotiations.