Economy

Friday, January 25th 2013 - 07:34 UTC
Brazil development bank plans to invest almost a trillion dollars in next three years

Brazil’s Social and Economic Development Bank (BNDES) has plans to invest 1.858 trillion Reais (approx 906bn dollars) between 2013 and 2016. In 2012, total investments amounted to approximately 156 billion Reais, up 12% compared to 2011, and a total of 2.394 trillion Reais was invested between 2008 and 2012.
Friday, January 25th 2013 - 06:34 UTC
Cameron at Davos called for a more competitive, open and flexible Europe

British Prime Minister David Cameron insisted on Thursday he was not turning his back on Europe as the global elite at the annual Davos meeting gave his referendum plans a frosty reception.
Friday, January 25th 2013 - 05:43 UTC
Falklands make £8m transfer to “Oil Development Reserve”, future sovereign wealth fund

The government of the Falkland Islands has made a transfer of over 8 million pounds (£ 8.274 million) to the new Oil Development Reserve, a first step towards a ‘Sovereign Wealth Fund’ based on the Norwegian model it was explained at this week’s meeting of the Standing Finance Committee.
Friday, January 25th 2013 - 04:54 UTC
Germany, France and nine other EU countries approved tax on financial transactions

France, Germany and nine other European Union states side-stepped British opposition this week and won approval for a tax on financial transactions, it emerged on Wednesday.
Friday, January 25th 2013 - 04:43 UTC
Monsanto reaches agreement on patent royalties with Brazilian soybean farmers

Monsanto the world’s biggest seed company agreed to waive two years of royalties on its Roundup Ready soybean seeds for Brazilian farmers who agree to forgo claims in a patent dispute.
Friday, January 25th 2013 - 04:16 UTC
ECLAC underlines significance of EU investments in the region: 500bn in a decade

The Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena called for “a more symmetrical, balanced and equitable relationship with Europe” during the first CELAC/EU academic summit in Santiago de Chile.
Friday, January 25th 2013 - 04:05 UTC
“Turn the lights on” electricity rates are down Rousseff tells fellow Brazilians

Brazilian President Dilma Rousseff announced this week a deeper-than-expected cut in electricity rates, hoping to contain a recent spike in inflation, give manufacturers a boost and prop the flat economy.
Friday, January 25th 2013 - 04:01 UTC
Cristina Fernandez ‘knocks out’ governors from influencing mid term election

The government of President Cristina Fernandez implemented a new system whereby mayors will be able to directly apply for financial assistance for their districts, thus bypassing governors. Earlier in the week the most outstanding governor and (political ally) Daniel Scioli from Buenos Aires province had formally requested reconsideration of the tax sharing program.
Thursday, January 24th 2013 - 07:55 UTC
“Biotic” additives nutritionally feasible as growth promoters in animal husbandry

Research in Brazil has revealed that so-called 'biotic' additives are nutritionally feasible replacements for growth promoters and the animal husbandry indices of animals treated with these additives were similar to those of animals fed the normal rations and the use of additives contributed to improvements in the meat quality.
Thursday, January 24th 2013 - 05:58 UTC
LatinFocus forecasts regional GDP to expand 3.7% and average inflation 6.6%

LatinFocus Consensus Forecast panellists expect regional GDP to expand 3.7% this year, following an estimated 2.9% increase recorded in 2012. The stable figure reflects rosier prospects for Chile, Paraguay, Peru and Venezuela, which were offset by downward revisions to Brazil, Colombia and Uruguay.