Economy

• Wednesday, August 28th 2013 - 14:13 UTC

  Falklands’ lawmaker invites Brazilian companies to join Islands oil industry development

  

  The sovereignty issue should be left aside and talks should concentrate on the business opportunities offered by the oil industry in the Falkland Islands, said lawmaker Dick Sawle during an interview with AP in Brazil where he is on a week long visit of business and political contacts.

• Wednesday, August 28th 2013 - 01:07 UTC

  Argentina's international reserves at a six year record low, and sliding ….

  

  Argentina’s central bank international reserves pierced the psychological barrier of 37bn dollars and ended Tuesday at 36.9bn dollars, which is the lowest in over six years and will continue to drain since next month the country must repay in full 2bn of a 2007 sovereign bond.

• Wednesday, August 28th 2013 - 00:43 UTC

  Wide political support in Argentina for Cristina Fernandez new debt swap proposal

  

  The opening of a new sovereign debt swap announced by Argentine President Cristina Fernández on national television on Monday has received strong support from allies, pledges of neutrality from the main opposition party but also criticisms.

• Wednesday, August 28th 2013 - 00:24 UTC

  Argentine bonds lose ground following the debt swap announcement

  

  Argentina bonds in dollars, protected by local legislation fell the most in four months after President Cristina Fernandez announced she’s sending a bill to Congress to reopen the debt swap so that holders of the 7% of pending non restructured debt can normalize their situation in similar conditions.

• Tuesday, August 27th 2013 - 22:06 UTC

  Brazil’s Mantega admits ‘mini-crisis’; blames the US Fed confusing messages

  

  Brazil's economy is going through a “mini crisis” stemming from global markets turbulence made worse by confusing messages from the US Federal Reserve, complained Finance Minister Guido Mantega.

• Tuesday, August 27th 2013 - 21:55 UTC

  China and emerging economies call on the Fed for prudence in unwinding stimulus

  

  The US Federal Reserve must consider when and how fast it unwinds its economic stimulus to avoid harming emerging market economies, senior Chinese officials said on Tuesday. Financial markets are uneasy because the US Fed might decide to reduce its monthly bond buying when it meets on Sept 17 and 18.

• Tuesday, August 27th 2013 - 21:46 UTC

  UK tourism profits hit by soaring costs and fierce competition

  

  The unexpected warm summer boosted trading at Britain’s hotels, pubs and restaurants as holiday makers took advantage of the soaring temperatures, a new report shows. But profits were hit due to the double whammy of rising raw materials costs and fierce competition that kept prices low, says the CBI’s quarterly service sector survey.

• Tuesday, August 27th 2013 - 21:39 UTC

  Arab tourists spend £1.3 billion in London

  

  Initial estimates on foreign tourist purchases in London during this summer season are estimated to be worth £4 billion. Official statistics have not yet been disclosed. The contribution of Arab citizens to this figure is estimated to be worth £1.3 billion, says the British Commercial Association.

• Tuesday, August 27th 2013 - 21:30 UTC

  US aquifer supplying 30% of irrigated groundwater and stretching under eight states rapidly depleting

  

  Almost 70% of the groundwater stored in parts of the United States' High Plains Aquifer, a vast underground reservoir that stretches through eight states, from South Dakota to Texas, and supplies 30% of the US irrigated groundwater, could be used up within 50 years unless current water use is reduced, a new study finds

• Tuesday, August 27th 2013 - 21:24 UTC

  Time for investors to hunker down: ‘markets look terrible’

  

  It's time to step out from my 'normal' role as the 'energy expert' and make a comment or two on the markets in general, just as a professional trader who's seen quite a bit in his almost 3 decades of daily experience with capital markets and the way they act. Patterns emerge that aren't foolproof, but they've served well over the years and they are making some very visceral noises to me, even observing the action at longer range on vacation.