Economy

• Friday, October 12th 2012 - 16:44 UTC

  Noble Energy says Falklands’ oil production in six years if exploration well proves successful

  

  Noble Energy Inc. (NBL) executives said on Thursday that oil production in the Falkland Islands could begin in about six years if an exploration well proves to be successful.

• Friday, October 12th 2012 - 06:47 UTC

  Falklands’ oil industry socio-economic impact on track with “no major new concerns”

  

  A socio-economic impact study on the effects of an oil development project on the Falkland Islands did not reveal any, “major new concerns which had previously escaped attention Director of Mineral Resources Stephen Luxton told Penguin News this week.

• Friday, October 12th 2012 - 06:31 UTC

  The future of the Falklands lies with tourism, says governor Haywood

  

  In a well illustrated piece the Daily Mail writes about the Falklands’ tourism industry and future prospects, including air links to the South Atlantic Islands, over which Argentina claims sovereignty.

• Friday, October 12th 2012 - 06:23 UTC

  Uruguay signs offshore contracts with oil companies: BP, BG, Total and Tullow

  

  The Uruguayan government has signed offshore exploration and production deals with British oil firms BG Group, BP plc, Ireland’s Tullow Oil and France's Total. The companies awarded 30-year concession contracts in April for the eight oil blocks - three each for BG and BP and one each for Tullow and Total - have committed to investing a total of roughly 1.56 billion dollars.

• Friday, October 12th 2012 - 06:06 UTC

  Argentina inflation in nine months of 2012 reached 18%, says “Congress index”

  

  Argentine opposition lawmakers presented on Thursday September’s ‘Congress inflation index’ based in the analysis of nine private agencies, which showed a 1.93% increase against the previous month and 18% in the first nine months of 2012.

• Thursday, October 11th 2012 - 23:28 UTC

  IMF asks for “a bit more time” for Greece and Spain but Germany says it will affect confidence

  

  The IMF on Thursday backed giving debt-burdened Greece and Spain more time to reduce their budget deficits, cautioning that cutting too far, too fast would do more harm than good.

• Thursday, October 11th 2012 - 05:39 UTC

  Coast and Border guards conflict finds a culprit and comes to an end

  

  The Argentine Coast and Border Guards conflict came to an end on Wednesday morning following an order for the officers to return to their posts and remain in barracks until new instructions.

• Thursday, October 11th 2012 - 05:26 UTC

  Seed giant Monsanto suspended in Argentina on allegations of tax irregularities

  

  Argentine authorities suspended the local unit of US seed giant Monsanto from a local grains registry over allegations of tax irregularities. The company denied the allegations in a statement issued late on Wednesday.

• Thursday, October 11th 2012 - 04:45 UTC

  Argentine central bank confirms no restrictions for governments to purchase dollars

  

  The Argentine central bank confirmed on Wednesday that there is no money exchange restrictions for the federal government or provinces to purchase US dollars to honour public debt issued offshore.

• Thursday, October 11th 2012 - 04:41 UTC

  In divided decision Brazil central bank cuts basic rate another 25 points to 7.25%

  

  Brazil's central bank on Wednesday slashed its interest rate for the 10th time since August last year, to a record low of 7.25%, in a bid to stimulate the sluggish economy.