Economy

Friday, June 1st 2018 - 07:35 UTC
Guyana on the global energy map: oil production expected to reach 600.000bpd

The Norwegian oil and gas research firm Rystad Energy is predicting that Guyana's oil sector could generate annual revenue of US$15 billion and that the government would pocket most of the profit generated from the explorations.
Thursday, May 31st 2018 - 09:01 UTC
Argentine Senate votes 37 to 30 to freeze utility rates; Macri expected to veto the bill

Following twelve hours of heated and at time acrimonious debate the Argentine Senate on early Thursday voted, 37 to 30, to freeze utility prices. President Mauricio Macri had anticipated that if the bill was passed he would veto it because there is no way the budget can stand an additional 1% of GDP deficit.
Thursday, May 31st 2018 - 08:36 UTC
EU pledges more funds to combat populism and migrant crisis

The European Union has proposed spending more on Italy and other member countries hit by the economic and migrant crises, but less on increasingly wealthy eastern states like Poland. The European Commission, the bloc's executive arm, proposed the regional shift in the “cohesion” portion of the post-2020 multi-year budget as Italy faces political chaos.
Thursday, May 31st 2018 - 08:12 UTC
Fed proposes simplifying trading rules for foreign banks and funds

Foreign banks and funds are set to benefit from a move by U.S. regulators to simplify a trading rule that foreign banks and regulators say has inadvertently complicated firms operating as far afield as Europe and Asia. The Federal Reserve, alongside other U.S. regulators, on Wednesday proposed rewriting the “Volcker Rule” introduced following the 2007-2009 financial crisis in a bid to simplify the regulation and make it easier for banks to comply.
Thursday, May 31st 2018 - 07:40 UTC
Deal to compensate one of the world's most indebted oil company

Petrobras and Brazil’s government are “very close” to resolving a long-running dispute over an oil-rich offshore area, a deputy minister said, dismissing concerns a fuel pricing crisis had emerged as an obstacle in talks.
Thursday, May 31st 2018 - 07:20 UTC
Total denied environmental license to drill at the Amazon basin

Brazilian environmental agency Ibama this week rejected French oil company Total SA’s application for an environmental license to drill in the ecologically sensitive Foz do Amazonas basin. It is the fourth time that Ibama has rejected the application and requested additional information.
Thursday, May 31st 2018 - 07:11 UTC
Coca Cola supports Macri with US$ 1.2bn, 2019/2021, investment pledge

Coca-Cola announced it would increase its investments in Argentina over the next three years, giving embottled President Mauricio Macri’s government a boost at a difficult time.
Thursday, May 31st 2018 - 07:02 UTC
Brazil's strike: massive losses: 70m chickens slaughtered; exports of soy, sugar and coffee cancelled

Striking truckers in Brazil have disrupted supplies and exports from one of the world's agricultural powerhouses, triggering the premature slaughter of millions of chickens as feed failed to reach farmers. The strike over high fuel prices has paralyzed Brazil, the top global exporter of soybeans, sugar, coffee and chicken.
Wednesday, May 30th 2018 - 09:37 UTC
State of the Nation: “incredibly exciting time for the Falkland Islands and its people”

On Tuesday May 29, Governor Nigel Phillips CBE addressed the elected Legislative Assembly of the Falkland Islands with a message on the State of the Nation.
Wednesday, May 30th 2018 - 09:26 UTC
Global markets and the Euro his hard by the Italian political stalemate

Asian equities and the euro sank Wednesday as turmoil in Italy sparked a frantic dash for safety, while investors have also been spooked by fresh worries about the China-US trade row. Global markets have been sent into a tailspin as a political crisis unfolding in Rome has thrust the stability of the Euro zone and European Union back on to the agenda.