Economy

Saturday, April 6th 2013 - 04:02 UTC
S&P strong warning to UK on continuing negative outlook for the economy

Credit rating agency Standard & Poor's has reaffirmed its triple-A rating for the UK, but warned of the continuing negative outlook for the economy. S&P said it may downgrade the UK from the highest rating in the future if economic conditions worsened.
Saturday, April 6th 2013 - 03:50 UTC
Brazil claims trade situation with Argentina is “less than satisfactory”

Brazil admitted that the trade situation with Argentina is “less than satisfactory”, given the ongoing barriers and restrictions imposed by Buenos Aires and revealed that the bilateral trade balance is now inclined in favour of its southern neighbour and Mercosur associate.
Thursday, April 4th 2013 - 22:20 UTC
“If the Euro is to survive”, centralized banking supervision and unlimited liquidity are crucial

Creating an EU banking union with a centralized supervisory and restructuring board plus telling the European Central Bank to provide unlimited liquidity to maintain the payments system are crucial if the Euro is to survive, according to a leading German economist from the European Bruegel think-tank analyzing the ongoing banking and confidence crisis triggered by Cyprus.
Thursday, April 4th 2013 - 22:13 UTC
ECB monetary policy ‘accommodative’ but governments need to play their share

The European Central Bank cannot step into the breach left by a lack of political action to solve the region's debt crisis, but is ready to do whatever it can to help, ECB chief Mario Draghi said on Thursday.
Thursday, April 4th 2013 - 22:11 UTC
BoE ready to pump liquidity if first quarter confirms UK back in recession

The Bank of England has decided not to expand its stimulus program of quantitative easing and has also kept interest rates unchanged at 0.5%. The decision had been widely expected, despite concerns over the strength of the UK economy. The rate has been at that level since March 2009.
Thursday, April 4th 2013 - 22:03 UTC
Japan plans to double money supply to pull the country out of deflation and 2% inflation in two years

The Bank of Japan announced on Thursday the world's most aggressive monetary stimulus today, promising to inject about 1.4 trillion dollars into the economy in less than two years, a radical gamble that sent the Yen reeling and bond yields to record lows.
Thursday, April 4th 2013 - 21:55 UTC
Argentina honours coupon and interest payments on sovereign bonds

Argentina has made on Wednesday a scheduled coupon payment on its 2038 Par bonds and paid interest on its 2015 Boden bonds, the Economy Ministry’s spokeswoman said. Investors are worried Argentina could trigger a technical default if a US appellate court rules against it in a case brought by “holdout” creditors suing for full repayment on bonds in default since 2002.
Thursday, April 4th 2013 - 18:37 UTC
Falkland Islands’ oil industry associate begins offshore production from Israel’s major gas deposits

Houston based Noble Energy which also has interests in the Falkland Islands oil industry announced this week that the Tamar natural gas field offshore Israel has been successfully brought online with all five of the sub-sea wells now producing at stable rates totalling approximately 300 million cubic feet per day.
Thursday, April 4th 2013 - 16:59 UTC
Gas starts flowing from Israel's Levant Basin, what now?

By Jen Alic - The first gas has started flowing from Israel's super-giant Tamar gas-field in the Levant Basin. Where it will go will redraw the Mediterranean energy map and the geopolitics that goes along with it.
Thursday, April 4th 2013 - 07:59 UTC
Argentina again this year will use reserves to comply with debt commitments

Argentina will use 2.3 billion dollars of central bank reserves this year to meet payments to international financing organizations and on its official bilateral debt, according to the Official Gazette.