Economy

Monday, January 14th 2019 - 06:40 UTC
Premier record oil production helps significant cuts in its debts

Premier Oil has taken advantage of its second consecutive year of record oil production to make larger than expected cuts into its still-significant debts. The London-listed oil and gas developer, with interests in the Falkland Islands, expects its financial results to reveal end-of-year debts of US$2.3 billion, after removing US$390 million from the total following a sharp rise in oil output.
Monday, January 14th 2019 - 06:28 UTC
EU fishing discards' ban policy became effective this month: challenge for industry

On 1 January, the wasteful practice of throwing fish discards overboard became illegal in waters of the European Union. Scientists believe the policy will lead to more efficient fisheries and eventually boost stocks.
Saturday, January 12th 2019 - 10:34 UTC
Excessive high-risk premium for Argentine assets, claims Macri official

Investors have placed an excessively high-risk premium on Argentine assets compared to their peers, according to Finance Secretary Santiago Bausili, quoted in a report by Bloomberg. Argentina's country risk rating has been hovering at 7.0 percentage points.
Saturday, January 12th 2019 - 10:22 UTC
EU multinationals refuse to collaborate with Brazil justice investigating Petrobras corruption

Commodities trader Trafigura has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they bribed officials at state-run oil firm Petrobras.
Friday, January 11th 2019 - 21:16 UTC
Mexico's crackdown on fuel theft generates supply shortfalls

Gasoline shortages in Mexico sparked by a crackdown on fuel theft prompted warnings from business leaders that industries like car making will suffer if the shortfalls persist as lines at gas stations in the capital grew during the week.
Friday, January 11th 2019 - 09:01 UTC
Japan' s Abe to the rescue: The “whole world” wants UK to avoid a no-deal Brexit

The “whole world” wants the UK to avoid a no-deal Brexit, Japan's PM has claimed, after talks with Theresa May. Shinzo Abe pledged “total support” for the withdrawal agreement she has negotiated with the EU, which faces a crunch vote in the Commons on Tuesday.
Friday, January 11th 2019 - 08:48 UTC
China's “insatiable appetite” for seafood is straining South America's resources

China's “insatiable appetite” for seafood is straining the limited abilities of South American countries to enforce their maritime boundaries, according to an article in Dialogo, a website run by US Southern Command. Countries on the Atlantic and Pacific coasts have been affected, and most of the illicit fishing activity in those areas is done by Chinese vessels.
Friday, January 11th 2019 - 08:43 UTC
Argentine forex market volatility: Central bank intervenes to prop the dollar, first time in seven months

Argentina’s Peso closed stronger on Thursday, but remained outside the limits of a trading band set by the central bank after it intervened in the market by buying US$ 20 million.
Friday, January 11th 2019 - 08:34 UTC
March of torches in Argentine cities to protest soaring costs of public services

Tens of thousands of Argentines marched through Buenos Aires on Thursday evening carrying torches, in the first of a series of planned protests against President Mauricio Macri's austerity program and the soaring cost of public services.
Thursday, January 10th 2019 - 09:07 UTC
World's biggest vehicle market faces first annual sales fall in twenty years

Car sales in China, the world's biggest vehicle market, have seen their first annual fall in twenty years. Sales fell 6% to 22.7 million units in 2018, according to the China Passenger Car Association (CPCA).