Economy

Friday, September 20th 2013 - 07:58 UTC
IMF sides with Obama calls on Republicans to bury political differences

The International Monetary Fund urged US policymakers to support major reforms at the global lender and bury political differences over the budget to ease one source of risk to the economy and markets.
Friday, September 20th 2013 - 07:36 UTC
Brazil’s Mantega becomes supporter of US stimulus and praises Fed’ last decision

Brazilian Finance Minister Guido Mantega, on Wednesday cheered the Federal Reserve's decision to leave stimulus unchanged, saying it may signal an end to market turmoil. Mantega, who gained international fame for using the term “currency wars” to describe rich nations’ efforts to lift exports by weakening their currencies, said a gradual stimulus withdrawal may boost Latin America's largest economy.
Thursday, September 19th 2013 - 19:31 UTC
China has become Uruguay’s main market for beef taking 25% of exports

China in just a year has become Uruguay’s main client for beef absorbing 25% of exports equivalent to 190 million dollars in the last agriculture year (July 2012/June 2013). Uruguay exports totalled 390.000 tons according to the latest release from the country’s Meats Institute, INAC.
Thursday, September 19th 2013 - 07:55 UTC
Three-day pouring rain and wind storm kills over 30.000 sheep in Uruguay

Thousands of sheep dead, 1.500 people evacuated, blown roofs, flooded roads and farm land was the result of three days non-stop of pouring rainfall and strong winds that punished Uruguay beginning last Friday.
Wednesday, September 18th 2013 - 20:45 UTC
Gibraltar and Spain trade unions call for an end to border crossing dispute

The Gibraltar branch of Unite the Union has joined forces with Spanish unions Comisiones Obreras [CC.OO] and Unión General de Trabajadores [UGT] to underscore their collective concern at the deterioration of cross-border relations because of the on-going dispute.
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.