Economy

Friday, November 1st 2013 - 18:05 UTC
London Luxury Quarter red carpet to court the rich and famous from China

Luxury retailers in London are hoping to cash in on the growing ranks of high-net worth Chinese travelers in the wake of relaxed visa application rules for tourists and business people from the mainland, which were announced in October by the British government.
Friday, November 1st 2013 - 08:48 UTC
Experts dismiss forecasts of soaring wine prices: worldwide production on the rise

In a much-publicized report released Wednesday, US bank Morgan Stanley said that a worldwide fall in production and growing thirst for wine among Chinese and Americans would send prices rocketing. However industry experts say worldwide production actually rose this year.
Friday, November 1st 2013 - 05:49 UTC
Falklands' electoral debate suggests alternative air-link and better facilities for tourism

An alternative north-south air-link and better facilities for tourism development surfaced at the Falkland Islands candidates debate ahead of 7 November General Election during the FIRS/Penguin News press conference earlier this week.
Friday, November 1st 2013 - 05:40 UTC
IMF warns about global slowdown and appeals to Latam governments' prudence

The Director of the International Monetary Fund’s (IMF) Western Hemisphere Division, Alejandro Werner, says Latin American and Caribbean economies are well placed to once again sustain relatively high growth rates.
Thursday, October 31st 2013 - 06:35 UTC
IDB approves 300 million dollars loan for north Argentina road network

The Inter-American Development Bank (IDB) has approved a 300 million dollars loan to finance a multiple-work road program aimed at improving the conditions of accessibility, efficiency, and safety of priority roads of Argentina’s Norte Grande Region’s provincial road network and at contributing to the area’s sustainable economic development.
Thursday, October 31st 2013 - 03:49 UTC
Greater ports congestion forecasted in Brazil with record soy crop and delayed sugar shipments

Brazil’s delays loading soybeans for export may worsen in 2014 due to a bigger crop and as some grain facilities are used for sugar shipments, crop analyst Soybean & Corn Advisor Inc. said.
Thursday, October 31st 2013 - 03:46 UTC
US with the lowest federal budget deficit since 2008: surplus in September

Tax increases, spending cuts and a stronger economy nearly sliced the United States budget deficit in half in fiscal 2013, reducing it to the lowest level since 2008, Treasury Department data showed. The federal government took in 75.1 billion more than it spent last month, leaving the deficit for the fiscal year, which runs from October to September, at 680 billion, down from 1.09 trillion in 2012.
Wednesday, October 30th 2013 - 21:45 UTC
Latam and Caribbean weather global slowdown: unemployment forecasted to end this year at 6.3%

Latin American and the Caribbean are forecasted to end 2013 with an urban unemployment rate of between 6.2% and 6.3%, slightly lower than 6.4% recorded in 2012, according to the latest estimates from the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO).
Wednesday, October 30th 2013 - 21:29 UTC
Fed continues with bond purchases: shutdown of US government affected reliable stats

The Federal Reserve decided on Wednesday to press on with the 85 billion dollars in monthly bond purchases, saying it needs to see more evidence that the economy will continue to improve.
Wednesday, October 30th 2013 - 07:40 UTC
Pacific Alliance well ahead of Mercosur in the “Doing Business 2014” report

The World Bank's “Doing business 2014” report is not very encouraging for Latin-America with Chile the best ranked in position 34 out of 189 economies surveyed, but the group of countries that make up the Pacific Alliance again figures well ahead of Mercosur.