Economy

• Saturday, August 4th 2018 - 11:41 UTC

  Petrobras profits soar thirty fold in the second quarter helped by rising oil prices

  

  Brazil’s Petrobras benefited from the rising oil prices and booked a thirty-fold yearly jump in its second-quarter net income, which also beat analyst expectations.

• Friday, August 3rd 2018 - 10:03 UTC

  Gibraltar has detailed contingency plans for all levels of Brexit

  

  The Government of Gibraltar has, since 2016, been preparing for all possible outcomes in relation to the departure of the United Kingdom and Gibraltar from the European Union. This is a perfectly sensible thing to do in view of the ongoing UK/EU discussions and the preparations for all eventualities announced by both sides.

• Friday, August 3rd 2018 - 09:44 UTC

  Apple becomes the first company to hit a market cap of US$ 1 trillion

  

  Apple hit a market cap of US$1 trillion on Thursday — and hung onto the record valuation at market close — as the iPhone maker became the first publicly traded U.S. company to reach US$1 trillion.

• Friday, August 3rd 2018 - 09:32 UTC

  Brazil central bank keeps interest rates at an all-time low

  

  Brazil's central bank kept interest rates at an all-time low on Wednesday and downplayed a recent spike in inflation, suggesting no rate hikes in the immediate future. The effect of a nationwide truckers' strike on prices is likely to fade but will probably further slow a recovery in Latin America's top economy, the bank said, underscoring the outsized impact of the late-May protests.

• Friday, August 3rd 2018 - 07:48 UTC

  Falklands contrasting opinions on the Sao Paulo air link consequences

  

  The Falkland Islands government preferred choice for a second commercial flight to the South American continent has met with contrasting opinions as to the practical and potential future consequences of the Sao Paulo destination.This was clearly expressed in the Letters chapter of the Penguin News. One of them comes from the FI Chamber of Commerce, and the second from the main importer of fresh produce to the Islands.

• Friday, August 3rd 2018 - 07:24 UTC

  Falklands: Sao Paulo as second commercial flight draws strong local response

  

  The Falkland Island Government’s announcement of their preferred option for a second commercial flight between the Falklands and South America has been met with both applause and outrage, reports the latest edition of the Islands' weekly, Penguin News.

• Thursday, August 2nd 2018 - 08:04 UTC

  Power outages in Venezuela turn once rich cities into ghost towns

  

  The state of Zulia, the historic heart of Venezuela’s energy industry that was for decades known for opulent oil wealth, has been plunged into darkness for several hours a day since March, sometimes leaving its 3.7 million residents with no electricity for up to 24 hours.

• Thursday, August 2nd 2018 - 07:35 UTC

  Santos convinced that Maduro's days in Venezuela are numbered, “in the near future”

  

  Nicolas Maduro's days as president of crisis-ravaged Venezuela are numbered, his outgoing Colombian counterpart Juan Manuel Santos told the French government news agency.“I can see it happening in the near future,” said Santos, pointing to the International Monetary Fund's latest projection that Venezuela's inflation will hit one million percent this year.

• Thursday, August 2nd 2018 - 07:24 UTC

  Macri admits annual inflation will reach 30%, “product of this storm”

  

  Argentina's President Mauricio Macri is acknowledging for the first time that the country's annual inflation rate will be 30%. Macri said Tuesday that the high consumer prices “unfortunately are a product of this storm.” He was referring to a sharp devaluation of Argentina's currency and a recent run on the Peso.

• Wednesday, August 1st 2018 - 20:13 UTC

  Fed leaves benchmark interest rate unchanged; core PCE climbs to 2% in second quarter

  

  The Federal Reserve held its benchmark interest rate unchanged on Wednesday and reaffirmed its plans to continue raising borrowing costs at a gradual pace. The decision to hold rates had been widely expected and came after a two-day meeting of the Federal Open Market Committee, which dictates monetary policy.