Economy

Saturday, July 14th 2012 - 00:30 UTC
Top Brazilian entrepreneurs tie-up to develop mining opportunities in Latam and Africa

Brazil's top investment bank Banco BTG Pactual announced a tie-up with Roger Agnelli, former head of mining giant Vale, to invest up to 520 million dollars in Latin America and Africa.
Saturday, July 14th 2012 - 00:26 UTC
Brazil’s 2012/13 soybean crop in place to dispute the US supremacy

Next season, 2012/13 Brazilian soybean growers could be in place to jump from the world's No. 2 producer and dispute the US first place. Brazil's 2012-13 soybean production is expected to rise 25% from this season’s drought-punished, to 83.1 million tons.
Friday, July 13th 2012 - 23:46 UTC
Rousseff pledges to prop the economy but with no EU-style austerity measures

Brazil will not adopt EU-style austerity measures to tackle its economic crisis and will instead cut taxes and maintain social programs, President Dilma Rousseff said on Friday.
Friday, July 13th 2012 - 06:59 UTC
Argentine resident can only purchase “tourist dollars” through banks

The dollar clamp continues to advance in Argentina: foreign currency for overseas travel will only be available in the official market with a bank check or debit from the buyer’s current account. This is considered the latest interpretation from last week’s resolution banning savings in the US currency.
Friday, July 13th 2012 - 06:52 UTC
The Argentine government moves into the power distribution sector

Argentina's government appointed an “observer” Thursday to oversee business operations at the power distributor Edesur SA, after the company reportedly failed to make a payment to a regulatory company.
Friday, July 13th 2012 - 06:44 UTC
Argentine 2011/12 soy harvest 20% lower than previous year because of dry-spell

Argentina's 2011/12 soy harvest has come at an expected 39.9 million tons, but 20% lower than the previous year's crop after a Pampas dry spell dashed early-season hopes of bumper crop, the Buenos Aires Grains Exchange said on Thursday.
Thursday, July 12th 2012 - 22:35 UTC
ECB zero deposit-rate shakes EU banking system and forces to look for alternatives

European Central Bank's new zero deposit rate had an instant impact as it came into force, with banks more than halving the amount of cash parked there overnight and one ECB policymaker saying he expected the move to increase banks' lending.
Thursday, July 12th 2012 - 19:36 UTC
Rockhopper signs a billion dollars deal to develop Falklands’ oil discovery

Britain's Premier Oil announced on Thursday a 1 billion dollars deal to farm in and develop Rockhopper Exploration oil and gas discoveries in the Falkland Islands.
Thursday, July 12th 2012 - 07:27 UTC
Brazil lowers benchmark rate for eighth straight time to 8%

Brazil’s central bank cut its benchmark interest rate for the eighth straight time and signaled it will continue to lower borrowing costs, as spillover from a global economic slowdown limits inflation risks.
Thursday, July 12th 2012 - 07:23 UTC
Boom year for the Falklands’ tourism industry propped by the war’s anniversary

Tourist arrivals to the Falkland Islands are expected to increase by 14.9% in 2012, with a significant 28.8% jump in the number of leisure visitors, mainly driven by the 30th anniversary of the Falklands War.