Economy

• Saturday, August 31st 2013 - 02:01 UTC

  Sigh of relief for Mantega: Brazilian economy expands 1.5% in second quarter

  

  Brazil’s economy expanded 1.5% in the second quarter of 2013 compared with the previous three month, exceeding the most optimistic market expectations, official statistics showed Friday. The farm sector fared best, growing 3.9%, followed by industry with 2% and services 0.8% according to the Brazilian Institute of Geography and Statistics (IBGE) website.

• Saturday, August 31st 2013 - 00:44 UTC

  Falklands’ first oil delayed as cost alternatives are considered

  

  Premier Oil exploring for oil in the Falkland Islands said the company is studying cost alternatives to its drilling operations and crude extracting sub-sea architecture for the development of the Sea Lion project, which could delay the original chronogram for first oil.

• Friday, August 30th 2013 - 23:58 UTC

  Spain plans to damage Gibraltar economy by fining companies in the bunkering business

  

  Spain plans to fine bunkering companies operating in Gibraltar waters sums of up to two million Euros and the Finance ministry was planning to ban the sale of petroleum products to the Rock, particularly since they pay no VAT.

• Friday, August 30th 2013 - 02:00 UTC

  Judge Griesa looking into latest announcements by president Cristina Fernandez

  

  A court hearing in New York scheduled for Thursday midday between hedge funds holders of Argentine defaulted bond and lawyers for the Argentine government was called off on request from the holdouts.

• Friday, August 30th 2013 - 01:39 UTC

  Falklands’ changes brought by oil development must be done ‘with sensitivity and sensibility’

  

  Falkland Islands lawmaker Mike Summers cautioned at the latest meeting of the Legislative Assembly that a period of extensive change was inevitable for the Islands since the advent of the hydrocarbons industry would change the size of things and to some extent the nature of the community.

• Friday, August 30th 2013 - 01:02 UTC

  Falklands’ consultation on new deep port receives many suggestions and strong support

  

  The Falkland Islands government has released the findings of the public consultation document ‘Your Future – Your Say’ which show a very strong support for phased development of the new port, “to serve all its potential users,” according to an Executive Council paper.

• Thursday, August 29th 2013 - 02:48 UTC

  IMF encouragement for Brazil’s economy gradual upturn

  

  The Brazilian economy is on a gradual upturn from the slowdown begun in mid-2011, the IMF says while urging Brasilia to continue efforts to rein in inflation. The country's 12-month inflation reached 6.27% in July, close to the upper limit of the government target of 6.5%.

• Thursday, August 29th 2013 - 02:20 UTC

  Freezing frosts kill 4.000 cattle in landlocked Paraguay

  

  Freezing cold temperature from heavy frosts are estimated to have killed at least 4.000 head of cattle in landlocked Paraguay, according to the primary reports from the country’s National Animal Quality and Health service, Senasa.

• Thursday, August 29th 2013 - 02:13 UTC

  Australia calls on sheep farmers to test rams for ovine brucellosis

  

  Australia Livestock Health and Pest Authorities (LHPA) are encouraging all sheep producers to test their rams for ovine brucellosis, following recent positive tests that the disease might be spreading throughout the country.

• Wednesday, August 28th 2013 - 21:56 UTC

  Brazil raises benchmark interest to 9% hoping to rein in inflation

  

  Brazil raised on Wednesday its Selic benchmark interest rate to 9% from 8.5% in a further attempt to rein in inflation. The central bank's monetary policy committee, the Copom, voted unanimously for a third straight half percentage point rate rise.