Economy

Wednesday, September 25th 2013 - 08:05 UTC
Regulating financial markets is a human rights issue, claimed Cristina Fernandez

In her speech to the 68th United Nations General Assembly on Tuesday Argentine President Cristina Fernandez stressed that regulating the financial markets is a human rights issue and claimed that Argentina has been a repeat victim of shady financial entities such as the 'vulture funds', despite having repeatedly proved it is prepared to honour debt commitments.
Wednesday, September 25th 2013 - 07:55 UTC
Struggling Blackberry agrees in principle sale for 4.7bn dollars

Struggling smart-phone maker Blackberry has agreed in principle to be bought by a consortium led by Fairfax Financial for 4.7bn dollars. Blackberry said in a statement that Fairfax, its largest shareholder with about 10% of the stock, had offered 9 dollars a share in cash to buy the company.
Wednesday, September 25th 2013 - 05:08 UTC
IATA forecasts a strong 2014 for the industry, but airlines on average only retain 5 dollars per passenger

The International Air Transport Association (IATA) has revised its 2013 global industry outlook downwards to 11.7 billion on revenues of 708 billion dollars, but anticipates that all regions during 2014 will see improved profitability, with divergence in performance and with strong emphasis in North America with 6.3 billion net profits.
Wednesday, September 25th 2013 - 04:44 UTC
Falkland Islands next round of oil exploration drilling announced for late 2014

One of the several hydrocarbons companies operating in Falkland Islands waters expects its next drilling phase to begin in the fourth quarter of 2014 with a minimum of two exploration wells following extensive 3D surveying of southern licences in the Diomedea fan complex adjacent to the Darwin discovery.
Tuesday, September 24th 2013 - 08:07 UTC
Brazil will continue with the 60bn dollar currency intervention program: ‘it’s working adequately’

Brazil’s central bank chief Alexandre Tombini said on Monday policy makers will continue with their 60 billion dollars currency intervention plan, even after the Real rallied more than any other currency in the world as a consequence of the surprise announcement from the US Fed that for the moment it will not taper the bonds’ buying program to stimulate the US economy
Tuesday, September 24th 2013 - 08:04 UTC
Argentine trade balance collapsed 60% in August because of the energy import bill

Argentina’s trade balance collapsed 60% during August compared to a year ago because of stagnant exports and the doubling of energy imports according to the latest release from the government’s stats office, Indec.
Monday, September 23rd 2013 - 20:56 UTC
Brazil’ Bovespa implementing changes to update its benchmark Ibovespa

Brazil’s main stock exchange Bovespa is implementing changes to its benchmark Ibovespa stock index, the first since 1968, in an effort to correct recent distortions and better reflect the performance of local shares.
Monday, September 23rd 2013 - 19:14 UTC
First signals of US congressional clash: Republicans vote to cut food stamp benefits

US lawmakers have narrowly voted to cut food stamp benefits from next year despite a veto threat from the White House and opposition from lobby groups. The Republican-led House of Representatives passed the bill by 217-200. But it has little chance in the Democratic-held Senate.
Monday, September 23rd 2013 - 18:56 UTC
Brazil insists that Libra oil field auction was a major success

Brazil’s government is planning to give a boost to state-run oil company Petróleo Brasileiro by financing its participation in the October 21 auction of Libra, the country’s largest-ever oil discovery, the O Estado de Sao Paulo newspaper reported over the weekend.
Monday, September 23rd 2013 - 18:48 UTC
Egypt for Sale

Three years has seen the overturn of two government, the deaths of thousands of people and the destruction of much of the Egyptian economy. In the end, the mobs have changed nothing, except to make their own lives more miserable.