Economy

• Wednesday, October 31st 2012 - 23:34 UTC

  Gibraltar willing to enter a double taxation treaty with Spain

  

  Gibraltar said it complies with European Union and OECD regulations regarding finance centres and also indicated that it was willing to enter a double taxation treaty with Spain.

• Wednesday, October 31st 2012 - 23:13 UTC

  Falklands’ Desire Petroleum plans for the next three years

  

  Planning ahead for the next three years Falkland Islands Desire Petroleum announced on Wednesday changes to its Production Licences following approval received from Executive Council.

• Wednesday, October 31st 2012 - 20:51 UTC

  India/Brazil with highest government debt/GDP ratios among leading emerging economies

  

  India and Brazil have the highest government debt ratios at almost 70% of GDP among top ten emerging market economies, according to a report by Deutsche Bank.

• Wednesday, October 31st 2012 - 20:44 UTC

  Brazil’s primary budget surplus rapidly narrowing but Central bank confident target is within reach

  

  Brazil's primary budget surplus narrowed in September, distancing the government from its full-year surplus target, but the central bank said that target is still within reach. The accumulated primary surplus of January through September narrowed to 75.8 billion Brazilian Reais (37.3 billion dollars) from 104.6 billion Reais in the same period a year earlier.

• Wednesday, October 31st 2012 - 20:12 UTC

  Mercosur members, except Paraguay, de-listed from EU import preference scheme

  

  The European Union issued on Wednesday its revised import preference scheme - known as the Generalised Scheme of Preferences (GSP) - for developing countries most in need which will take effect from 1 January 2014, revealing that all Mercosur full members, except for Paraguay, will no longer benefit.

• Wednesday, October 31st 2012 - 05:17 UTC

  Sandy’s destruction along the US East coast estimated in 20bn dollars

  

  Businesses on the US East Coast have continued to be disrupted by storm Sandy, with total damage estimated at between 10bn and 20bn dollars. Sandy has flooded subway and road tunnels in much of Lower Manhattan.

• Wednesday, October 31st 2012 - 04:57 UTC

  NYSE resumes trading Wednesday despite NY transport system remains limited

  

  Stock markets, shuttered for two days by Hurricane Sandy’s punch ashore, plan to reopen Wednesday. The New York Stock Exchange’s parent company, NYSE Euronext, said trading would commence as usual with a 9:30 a.m. opening bell.

• Wednesday, October 31st 2012 - 04:44 UTC

  S&P lowers Argentina’s rating, as credit-default insurance soars to highest in the world

  

  Argentina’s credit rating was cut one level by Standard & Poor’s, which referred to a US appeals court ruling that prevents the country from honouring its debt without also paying holders of its defaulted bonds.

• Wednesday, October 31st 2012 - 04:00 UTC

  Fitch Ratings downgrades Argentine bonds following Judge Griesa ruling

  

  Fitch Ratings has placed Argentina's Long-term foreign currency Issuer Default Rating (IDR) of 'B', Short-term IDR of 'B' and the international bonds issued under New York Law on Rating Watch Negative (RWN).

• Wednesday, October 31st 2012 - 02:38 UTC

  Iran expected to import 100.000 tons of Argentine soy-oil in 4Q

  

  Iran is likely to import over 100.000 tons of soy-oil from Argentina in October-December 2012 as Iran's purchasing of soy beans, soy-oil and soy-meal is recovering from the impact of sanctions, Hamburg-based oilseeds analysts Oil World said on Tuesday.