Economy

• Friday, December 14th 2018 - 08:33 UTC

  Falklands approves government financed travel credit for residents: £1,826 in five years

  

  The Falkland Islands' Executive Council approved travel credit scheme legislation at the December 12 meeting. The scheme will give £1 a day to residents over the age of 18 with Falklands status and 50p to those under the age of 18 with status.

• Friday, December 14th 2018 - 08:28 UTC

  Falklands' government operating surplus stands at £9.4 million

  

  The Falkland Islands Government Standing Finance Committee heard on Wednesday that the forecast operating surplus for the whole of the year now stands at £9.4 million. Expenditure is expected to ramp up over the remainder of the financial year, with plenty of infrastructure work being scheduled for the summer months.

• Thursday, December 13th 2018 - 10:22 UTC

  Uber lands in Paraguay, starts taking applications from would-be drivers

  

  The international carpool company Uber made its official arrival in Paraguay Wednesday and starts receiving applications from potential drivers as of Thursday, it was announced. The service will become available for now in the cities of Asunción and Encarnación.

• Thursday, December 13th 2018 - 08:49 UTC

  US consumer prices in November unchanged, with sharp decline for gasoline

  

  The United States consumer prices were unchanged in November, held back by a sharp decline in the price of gasoline, but underlying inflation pressures remained firm amid rising rents and healthcare costs. The strength in underlying inflation reported by the Labor Department on Wednesday supports views that the Federal Reserve will raise interest rates at its Dec. 18-19 policy meeting. The U.S. central bank has hiked rates three times this year.

• Thursday, December 13th 2018 - 07:07 UTC

  Spain's minimum wage will increase by 22% in 2019, announces PM Sanchez

  

  Spain's minimum wage will jump by 22% in 2019 - the largest annual increase in more than 40 years. It means millions of low-paid workers could see a pay rise from €736 ($835; £665) to €900, effective from January. Prime Minister Pedro Sanchez announced the increase on Wednesday, declaring “a rich country cannot have poor workers”.

• Thursday, December 13th 2018 - 06:57 UTC

  Brazilian central bank keeps interest rates at an all time low

  

  The Brazilian central bank on Wednesday held interest rates at an all-time low, as widely expected, and hinted that it will hold off from raising them for longer than expected. The bank’s nine-member monetary policy committee, Copom, kept the benchmark Selic rate at 6.50 percent for a sixth straight meeting.

• Thursday, December 13th 2018 - 06:22 UTC

  Falklands goes ahead with negotiations and contract for second commercial flight

  

  The Executive Council has today Wednesday authorised the Chief Executive of the Falkland Islands Government to complete the necessary negotiations with LATAM Airlines Brazil and to finalise a contract, subject to agreement with MLAs, to establish and operate a new weekly route between Sao Paulo and the Falkland Islands.

• Wednesday, December 12th 2018 - 18:32 UTC

  Money markets bet Theresa May will win the confidence vote

  

  The pound has risen amid speculation that Prime Minister Theresa May will win the vote of confidence in her leadership on Wednesday evening. The currency is trading 1.4% higher against the dollar at $1.2660 and 0.9% higher against the euro at €1.1132.

• Wednesday, December 12th 2018 - 14:59 UTC

  Study reveals that 8 million Venezuelans would migrate during 2019

  

  A study carried out by Harvard University economists Dany Bahar and Douglas Barrios reveals that at least 8.2 million Venezuelan citizens would leave during 2019 their country to escape the economic and political crisis that Venezuela is experiencing.

• Wednesday, December 12th 2018 - 08:41 UTC

  China prepared to cut tariffs on US-made cars to 15%, reports Bloomberg

  

  China has reportedly proposed cutting tariffs on US-made cars to 15%, the same tax levied on car imports from other countries. Bloomberg reported that China's cabinet will review the plans, which would undo the 40% import duty China imposed on US cars this summer.