Economy

• Saturday, May 4th 2013 - 04:18 UTC

  Dollar in Argentina ‘brushes’ 10 Pesos; urgent meeting of Cristina Fernandez economic cabinet

  

  For a third consecutive day the ‘blue’ dollar which trades in Argentina’s informal market established a new record and after having brushed 10 Pesos in earlier trading finally closed Friday at 9.84 (buying price) and 9.88 (selling price) Pesos.

• Friday, May 3rd 2013 - 03:29 UTC

  Falkland Islands as oil-producing country: boon or blight?

  

  For some, the prospect of the Falkland Islands becoming an oil-producing country creates exciting visions of opportunity, while for others it seems like a nightmare. What is certain is that oil, like sheep and fishing before it, will inevitably bring changes to both our wealth and our way of life.

• Friday, May 3rd 2013 - 03:16 UTC

  Falklands’ delegation to IAATO round in Chile satisfied with contacts and praise for organizers

  

  The International Association of Antarctic Tour Operators, IAATO, with over a hundred member organizations held in April its latest annual meeting in Punta Arenas, Chile with a numerous delegation from the Falkland Islands attending given the growing economic significance of the cruise industry and Antarctica tours.

• Friday, May 3rd 2013 - 02:34 UTC

  Rousseff insists oil royalties should be invested in education; divided Congress disagrees

  

  Brazilian President Dilma Rousseff said she has sent to Congress another proposal to earmark all oil royalties collected by the state for public education after lawmakers shelved an earlier effort. Rousseff made the announcement in a televised Labour Day speech in which she said improving education was vital for Brazil's development in a highly competitive world.

• Friday, May 3rd 2013 - 02:31 UTC

  Brazil with trade deficit for third month running; government blames change in fuel tax accounting

  

  Brazil recorded in April its third trade deficit in four months, trade ministry data showed on Thursday, another weak result that reflects the deterioration of the country's trade balance due to a sluggish global economy and struggling local industry.

• Friday, May 3rd 2013 - 02:27 UTC

  Bank of Canada names long term bureaucrat and economist as new head

  

  The Bank of Canada has named long-term bureaucrat and economist Stephen Poloz as its new head, replacing Mark Carney who is going to run the Bank of England. Mr Poloz was a surprise choice as many observers expected Mr Carney's senior deputy, Tiff Macklem, to succeed him.

• Friday, May 3rd 2013 - 02:24 UTC

  EU “nightmare of unemployment” debate reaches ECB, which cuts rates to record low 0.5%

  

  The European Central Bank cut interest rates to a new record low on Thursday amid a chorus of calls for the Euro zone to focus on growth to end a “nightmare of unemployment” in the bloc. It was the first cut in ten months.

• Thursday, May 2nd 2013 - 08:03 UTC

  Where is Uruguay’s economy headed?

  

  Fitch Ratings in March joined two other major ratings agencies in giving Uruguay its coveted investment grade, a move that lowers the nation’s borrowing costs and opens up opportunities for new investors.

• Thursday, May 2nd 2013 - 07:56 UTC

  British tax havens will have to open their banking systems to UK and EU scrutiny

  

  Tax havens such as Bermuda and the Cayman Islands will work more closely with Britain and other European countries to fight tax evasion, British finance minister George Osborne said.

• Thursday, May 2nd 2013 - 07:37 UTC

  Falkland Islands’ economy ‘strangling’ and intimidation by Argentina reported in British media

  

  Argentina’s ongoing attempts to strangle the Falkland Islands economy by intimidating cruise vessels from calling at Stanley and other islands has been picked up by the Daily Mail in an article written by Ian Drury.