Economy

Monday, July 29th 2013 - 06:12 UTC
Rousseff brushes aside a ‘Lula option for 2014’ and ratifies minister Mantega

Responding to claims that former president Lula da Silva ‘is returning to politics’ and thus conditioning her re-election bid next year, Brazilian president Dilma Rousseff said the former trade union leader ‘never left politics’ and their relation ‘can’t be dissociated’. She also ratified Finance minister Guido Mantega.
Saturday, July 27th 2013 - 20:13 UTC
US largest bank moving out of the commodities business; Congress investigation

New York-based JPMorgan, the largest US bank, said that it’s “pursuing strategic alternatives,” including the sale or spin-off of its commodities business, after an internal review. The statement came three days after a US congressional hearing investigated whether deposit-taking banks should be allowed to trade raw materials such as oil and industrial metals.
Saturday, July 27th 2013 - 05:16 UTC
Cristina Fernandez on campaign for October mid term elections hikes minimum wage 25.5%

The minimum wage In Argentina will increase 25.5% to 3,600 Pesos, President Cristina Fernández announced. The hike will be implemented in two phases, with the lowest legal salary rising to 3,300 Pesos as of August and 3,600 in January 2014.
Saturday, July 27th 2013 - 05:11 UTC
Repsol takes YPF/Chevron deal to World Bank’s Investment Disputes Centre

Spanish oil company Repsol asked the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) to take provisional measures to prevent YPF state-owned oil company to execute the deal it sealed with Chevron last year to explore for unconventional hydrocarbons in the Vaca Muerta shale formation.
Saturday, July 27th 2013 - 05:00 UTC
Falklands set rules for oil and gas development, to the benefit of Islanders current and future generations

Falkland Islands has set out the eight basic guidelines of its hydrocarbons development policy which are centred on robust regulation, supply chain support and long-term benefits for Islanders because the statement underlines its resources belong to the people of the Islands.
Saturday, July 27th 2013 - 04:51 UTC
France will side with Argentina before the US Supreme Court says Telam

France has asked the US Supreme Court to review Argentina's case in its decade-old legal battle with holdout creditors, Argentina's state news agency Telam said on Friday, citing unnamed legal sources familiar with the situation.
Friday, July 26th 2013 - 11:39 UTC
Beijing unveils measures to boost growth: tax breaks and railway construction

China has unveiled a series of moves aimed at boosting growth, indicating that policymakers are concerned about the slowdown in its economy. The steps include tax breaks for small businesses, reduced fees for exporters and opening up of railway construction.
Friday, July 26th 2013 - 04:34 UTC
FAO forecasts new record level of cereals production this year: 2.479m tons

World total cereal production is forecast to increase by about 7% in 2013 compared to last year, helping to replenish global inventories and raise expectations for more stable markets in 2013/14, according to the latest issue of FAO quarterly Crop Prospects and Food Situation.
Thursday, July 25th 2013 - 06:00 UTC
Brazil current account deficit narrows in June, but will be above 3% of GDP in 2013

Brazil's current account deficit narrowed in June from a year ago, central bank data showed on Tuesday, although it may still be unable to cover that gap in 2013 with direct investment from abroad. The country posted a current account gap of 3.6 billion dollars in June.
Thursday, July 25th 2013 - 05:43 UTC
For the first time since 2000, Brazil is expected to post a trade deficit

Brazil is this year, for the first time since 2000, is expected to post a balance of trade deficit which, according to the Brazilian Foreign Trade Association (Aeb), and should be in the range of 2 billion dollars.