Economy

• Saturday, April 20th 2013 - 06:08 UTC

  Embraer-Augusta Westland project to build helicopters in Brazil falls through

  

  Brazilian plane maker Embraer SA said on Friday that it ended talks with AgustaWestland, a subsidiary of Italy's Finmeccanica, without reaching an agreement to form a joint venture.

• Saturday, April 20th 2013 - 05:56 UTC

  Brazil slams US and Europe for delaying promised reforms in the IMF

  

  Brazil’s Finance Minister Guido Mantega slammed the United States and Europe for repeatedly delaying reforms of their dominated shareholding and voting power in the International Monetary Fund (IMF).

• Friday, April 19th 2013 - 06:32 UTC

  Falkland Islands Holdings expects a quantum leap in the local economy over the next decade

  

  Falkland Islands Holdings, which owns the Falkland Islands Company, FIC, expects to report a slight fall in annual profits but anticipates a quantum leap in the Falklands’ economy over the next decade with the oil industry and the commencement in 2014 of the Sea Lion project.

• Friday, April 19th 2013 - 06:24 UTC

  Falkland Islands’ Sea Lion project will demand 5bn dollars and first oil is expected 2017

  

  UK independent oil and gas Premier Oil company said that the Falkland Islands Sea Lion project is one of their biggest operations undertaken to date involving an investment of 5 billion dollars with first oil expected sometime in 2017.

• Friday, April 19th 2013 - 05:46 UTC

  Argentina begins Washington round of contacts ahead of IMF-WB spring meeting

  

  Argentine Economy Minister Hernán Lorenzino is in Washington ready to start his official activities in the margins of the 2013 International Monetary Fund and World Bank Spring meeting.

• Friday, April 19th 2013 - 05:39 UTC

  IMF chief summoned to appear before French court over an arbitration payment

  

  IMF chief Christine Lagarde has been summoned to appear before a French magistrate on May 23 for questioning over an arbitration payment to a wealthy supporter of former President Nicholas Sarkozy, news website Mediapart reported.

• Friday, April 19th 2013 - 02:51 UTC

  Argentine international reserves fall below the 40bn dollars benchmark, 8% so far this year

  

  Argentina’s Central bank international reserves have fallen below the 40bn dollars benchmark, which is the lowest in six years, according to the bank’s official data. So far this year the drain has been 3.48bn dollars and 12.84bn from the record 52.6bn of January 2011.

• Friday, April 19th 2013 - 02:38 UTC

  France conditions EU/US trade talks to the exclusion of cultural items

  

  France said it would block proposed negotiations on a free trade agreement between the European Union and the United States unless cultural sectors, such as television and radio, were excluded from the talks.

• Thursday, April 18th 2013 - 21:39 UTC

  “Democracy in Paraguay is here to stay: Mercosur and Unasur have become irrelevant”

  

  “We’re optimistic about Sunday’s election and the future of Paraguay if we can agree on long term state policies, but something is for certain: democracy in Paraguay is here to stay” said Ricardo Caballero Aquino, Chargé d’affaires of the Paraguayan embassy in Montevideo who was also positive about future relations with Unasur and Mercosur.

• Thursday, April 18th 2013 - 16:51 UTC

  Brazil increases benchmark rate to fight inflation, but markets feel it’s not enough

  

  Brazil’s central bank on Wednesday raised its benchmark rate for the first time since July 2011 as policy makers seek to slow inflation levels. The bank’s board, led by President Alexandre Tombini, voted 6-to-2 to increase the Selic rate 25 basis points to 7.50% from a record low.