Economy

• Thursday, August 1st 2013 - 03:33 UTC

  South Georgia company sponsors research on toothfish sustainability

  

  Georgia Seafood is sponsoring pioneering research into the reproductive behaviour of the Patagonian Toothfish in South Georgia. Director of Georgia Seafood Stuart Wallace explained that in a market that demands sustainability it is important to the company that they support the science underpinning that aim.

• Thursday, August 1st 2013 - 02:59 UTC

  Brazil criticizes IMF for latest aid to Greece: worst fears could be confirmed

  

  A group of Latin American countries refused to back an IMF move this week to keep bankrolling Greece, citing risks of non-repayment, and the Fund itself said Athens might need faster debt relief from Europe.

• Wednesday, July 31st 2013 - 17:59 UTC

  Pfizer agrees to pay 491m dollars to settle illegal marketing of Rapamune

  

  US drug-maker Pfizer has agreed to pay 491 million dollars to settle a probe into illegal marketing of a drug by Wyeth, a firm it had acquired in 2009. The case revolved around Rapamune, a drug prescribed to prevent rejection of transplanted kidneys.

• Wednesday, July 31st 2013 - 17:13 UTC

  Markets up after Fed confirms it will continue with 85bn monthly bonds’ purchase

  

  US stocks extended gains in volatile trading on Wednesday after the Federal Reserve gave no hint that a reduction in the pace of its bond-buying program is imminent. In a statement following its two-day meeting, the Fed said the economy continues to recover but still needs support.

• Wednesday, July 31st 2013 - 16:54 UTC

  Slightly encouraging signs from the EU in employment and manufacturing

  

  The number of unemployed in the Euro-zone has fallen, slightly, for the first time since April 2011. The fall in June came amid brightening economic prospects, suggesting an end to the bloc’s stubborn recession.

• Wednesday, July 31st 2013 - 16:38 UTC

  US economy performance better than expected; expansion in 2012 was 2.8%

  

  The US economy grew at an annualised pace of 1.7% in the second quarter of the year, the Commerce Department has said. That was a faster pace than expected by economists. It was also up from the growth rate for the first three months of 2013, which was revised lower to 1.1% from 1.8%.

• Wednesday, July 31st 2013 - 16:28 UTC

  Norwegian company converts fresh seaweed to dry powder for alginates in 24 hours

  

  Norwegian company FMC Biopolymer converts seaweed to alginate for use in thousands of products with an advanced 24 hour chemical process. ABB has supplied process automation, motors and drives to FMC Biopolymer for more than 20 years.

• Wednesday, July 31st 2013 - 16:17 UTC

  Vatican bank opens its books to comply with ‘honest and transparent’ promise

  

  The Vatican bank opened its web site www.ior.va on Wednesday as it steps up efforts to improve its tarnished image after a succession of financial scandals and repeated criticisms of its lack of transparency.

• Wednesday, July 31st 2013 - 06:09 UTC

  Ecuador’s Correa pondering whether to join Mercosur or the Pacific Alliance

  

  President Rafael Correa said that the determining factor for Ecuador to join as full member of Mercosur or the Alliance of the Pacific is the ‘flexibility’ granted in certain admission conditions, taking into account the fact that Ecuador does not have a national currency.

• Wednesday, July 31st 2013 - 06:00 UTC

  Brazil’s next soybean crop expected to increase 9% to a record 89.1 million tons

  

  Brazil’s 2013/14 soybean crop that starts planting in September is expected to grow by 9% under normal weather conditions to a record 89.1 million tons, local crop analyst AgRural said in a release.