Economy

• Wednesday, September 18th 2013 - 20:33 UTC

  Fed decides to keep stimulus: fears of economy sluggishness and still slow labour market

  

  In a surprise move after a two-day meeting the US Federal Reserve said on Wednesday that it would continue buying bonds at a rate of 85 billion dollars monthly and expressed concern that a sharp rise in borrowing costs in recent months could weigh on the economy.

• Wednesday, September 18th 2013 - 20:00 UTC

  Argentina’s Vaca Muerta formation among the world’s 23 highest tight oil reserve areas

  

  The Vaca Muerta formation in the Argentine provinces of Neuquén and Mendoza has been ranked among the 23 highest tight oil reserve areas in the world, according to to a report released yesterday by global information company IHS.

• Wednesday, September 18th 2013 - 06:43 UTC

  China will help Venezuela develop a huge oil field investing 14bn dollars

  

  China’s hydrocarbons company Sinopec and Venezuela’s PDVSA (Petroleos de Venezuela SA) agreed investments to develop the Junin 1 oil field in the Orinoco oil strip, which will demand 14 billion dollars for a daily extraction of 200.000 barrels, said PDVSA president Rafael Ramírez currently in Beijing.

• Wednesday, September 18th 2013 - 01:55 UTC

  Paraguay expects to return to Mercosur in 2014; Chile offers closer links and access to the Pacific

  

  President Horacio Cartes said that during 2014 links between Paraguay and Mercosur will be fully re-established and by then all the skirmishes motivated by the access of Venezuela as full member of the group, “will be overcome”. However Cartes also mentioned that Paraguay, with support from Chile has a strategic access to the Pacific basin.

• Wednesday, September 18th 2013 - 01:07 UTC

  British government successfully sells 6% stake at Lloyds and collects £3.2bn

  

  The British government has sold a 6% stake in Lloyds Banking Group at a price of 75p a share, raising £3.2bn. The disposal cuts the government's stake in Lloyds from 38.7% to 32.7% and represents a cash profit of £61m for the Treasury.

• Wednesday, September 18th 2013 - 00:32 UTC

  Barclays ‘worst bank for honesty and customer service’ says UK ‘Move Your Money’ rating

  

  Barclays is the worst bank for honesty and customer service, according to an ethical scorecard launched Monday in the UK to guide those looking to switch their current accounts. The bank picked up just four out of 100 points in campaign group Move Your Money’s ratings, with the five biggest banks among the poorest performers in the 70 that were assessed.

• Tuesday, September 17th 2013 - 07:10 UTC

  Argentina ratifies interest in Mercosur, but Brazil wants negotiations now

  

  The government of President Cristina Fernandez told the business community on Monday that Argentina has an interest in a ‘balanced’ negotiation between Mercosur and the European Union to reach a political, association and trade agreement. However the timetable approach of Argentina does not seem to fit with the rest of Mercosur, mainly Brazil.

• Tuesday, September 17th 2013 - 06:59 UTC

  Tax incentives in Argentina top bolster the domestic software industry

  

  Argentina is creating new tax incentives to bolster a domestic software industry that is expected to generate sales of 3.75 billion dollars this year, including 900 million in exports. The incentives take effect this week and are to remain in place through the end of 2019.

• Tuesday, September 17th 2013 - 05:03 UTC

  Punta Arenas expects 58.000 visitors and 103 calls this coming cruise season

  

  An estimated 58.000 visitors have been confirmed for this coming 2013/14 cruise season at the extreme south Chile cities of Punta Arenas and Puerto Natales, although the overall number is slightly less than the 62.000 of this last season according to Epaustral, the Austral Port Corporation.

• Monday, September 16th 2013 - 01:32 UTC

  Colombia denies registry of the ‘Escobar’ trademark to family members

  

  Colombia’s government has refused registration as a trademark of the full name “Pablo Emilio Escobar Gaviria” the country most notorious narcotics criminal. According to local news in Bogotá the application was filed by Maria Isabel Santos Cabalerro, Juana Manuela Marroquín Santos and Juan Sebastian Marroquín Santos, Escobar’s widow and children respectively who changed their names after settling in Argentina in the late 1990.