Economy

• Wednesday, September 19th 2012 - 01:48 UTC

  Brazil reacts to US stimuli saying it will keep the Real ‘devalued’ and competitive

  

  The latest round of US quantitative easing will create many problems for emerging countries and Brazil will take action to keep the Real from rising in value, Brazilian Finance Minister Guido Mantega said on Tuesday.

• Tuesday, September 18th 2012 - 21:52 UTC

  Swiss banks fear withdrawals of “hundreds of billions” because of new taxes

  

  UBS expects Swiss banks to see European clients withdraw “hundreds of billions of francs” as a result of steps to stop foreigners using secret accounts to evade taxes, warned Juerg Zeltner, head of UBS wealth management.

• Tuesday, September 18th 2012 - 16:18 UTC

  Uruguay calls for doubling efforts in EU/Mercosur trade and association talks

  

  Uruguayan Industry, Energy and Mining minister Roberto Kreimerman called on the European Union and Mercosur members to double efforts and advance in negotiations to achieve a wide ranging association agreement which has been discussed for almost two decades.

• Tuesday, September 18th 2012 - 09:27 UTC

  Moody’s changes Argentina rating outlook to negative from stable

  

  Moody's Investors Service has changed the rating outlook on Argentina to negative from stable, citing haphazard economic policy decisions coupled with increasing questions about the reliability of official statistics.

• Tuesday, September 18th 2012 - 07:21 UTC

  Falklands’ Desire confirms exploration potential and is looking for farm-in partner

  

  Falkland Islands explorer Desire Petroleum said its half-year to end-June period losses decreased from 39.3 million dollars in the previous period to just 2m, due to a fall in exploration and evaluation expenses. It also announced that it was looking for a farm-in partner for the North Falkland basin, where the company is focused.

• Tuesday, September 18th 2012 - 06:56 UTC

  Falklands immigration review to address labour demand from strong economy

  

  The future need of the Falklands Islands labour market is the driving force behind a decision to review the Falklands immigration system, confirmed Head of Policy Jamie Fotheringham this week in a report published by Penguin News.

• Tuesday, September 18th 2012 - 06:53 UTC

  IMF delays report on Argentina’ controversial economic data reporting

  

  The International Monetary Fund (IMF) decided it will not “release any communiqué regarding Christine Lagarde report over Argentina's statistics,” the press department announced. It is expected that the report with the analysis of the Board of Directors will be released on Tuesday.

• Tuesday, September 18th 2012 - 06:41 UTC

  Soy, corn and wheat futures with record drops in Chicago on improved yields of US crop

  

  US soybean futures tumbled on Monday trading posting their biggest percentage drop in nearly one year, on selling sparked by anecdotal accounts of better-than-expected yields in the Midwest farm belt.

• Monday, September 17th 2012 - 17:29 UTC

  Cruise convention underlines South America’s potential for the industry

  

  South America was described as a ‘fantastic destination’ for the cruise industry but with an even greater potential said Chris Hayman at the closing ceremony of the two-day Seatrade South America Cruise Convention in Buenos Aires.

• Monday, September 17th 2012 - 14:57 UTC

  FOGL and Edison strike gas discovery to the East of the Falkland Islands

  

  Falkland Oil and Gas Ltd announced Monday that the well drilled to the East of the Falkland Islands to a depth of over 4.000 meters is a gas discovery. The statement comes after a rough week for FOGL when its shares plummeted following poor and unfounded press coverage.