Economy

• Saturday, May 12th 2018 - 07:50 UTC

  Macri enlists further financial and political support, but Peso continued to slide

  

  Argentina’s central bank sold US$1.1 billion in the foreign exchange market on Friday and the peso weakened 2.74% to an all-time closing low of 23.35 per U.S. dollar despite talks aimed at securing an International Monetary Fund financing deal.

• Saturday, May 12th 2018 - 07:31 UTC

  Falklands' Premier Oil figures commissioning three FPSOs in next seven years, reports GlobalData

  

  South America, including the Falkland Islands, has the highest number of planned and announced floating production, storage, and offloading units (FPSOs) to be commissioned by 2025, according to a report by GlobalData. World wide 74 planned and announced FPSOs are set to become operational for the outlook period between 2018 and 2025.

• Friday, May 11th 2018 - 08:50 UTC

  Brazil inflation in April below official target; another interest rate cut expected

  

  Brazil's inflation rate unexpectedly slowed in April and kept far below the official target, suggesting a recent period of currency weakness is unlikely to keep the central bank from cutting interest rates next week.

• Friday, May 11th 2018 - 06:29 UTC

  Argentine stock market climbs 6% and the exchange market operates cautiously

  

  Argentine equities rallied on Thursday, while the country's peso currency was stable, as the central bank sold foreign currency reserves in the spot market for the first time since the country announced it was seeking financing from the IMF.

• Friday, May 11th 2018 - 06:12 UTC

  Bank of England leaves interest rates unchanged, slashes 2018 growth prospects

  

  The Bank of England has backed off from raising interest rates as it slashed 2018 growth forecasts, but said the economy would bounce back from a weather-hit “soft patch”. Policymakers kept the prospect of rate hikes firmly on the cards, although it sparked confusion over when the next increase may come.

• Friday, May 11th 2018 - 05:39 UTC

  IMF and White House support Macri's economic reform program

  

  International Monetary Fund chief Christine Lagarde said on Thursday she is ready to aid Argentina and wants talks on a financing package to be finalized quickly. Lagarde said she instructed the IMF team to continue discussions on a loan program with the goal to “reach a rapid conclusion.”

• Thursday, May 10th 2018 - 18:34 UTC

  IAATO’s Responsible Tourism Conference votes new and revised guidelines

  

  The International Association of Antarctica Tour Operators (IAATO) has concluded its 27th annual meeting in Newport, Rhode Island, USA having agreed to strengthen its mission of promoting the practice of safe, environmentally responsible travel to the Antarctic.

• Thursday, May 10th 2018 - 18:14 UTC

  Falklands delegation travels to Buenos Aires for fishery talks and data exchange

  

  Next Monday, 14 May 2018 four representatives from the Falkland Islands Government’s Natural Resources Department will be part of a UK Foreign and Commonwealth Office lead delegation meeting with the Government of Argentina, in Buenos Aires, to begin two days of discussions on fish and squid stocks in the South Atlantic, and the possibility of resuming the exchange of scientific fisheries data for the benefit of the region.

• Thursday, May 10th 2018 - 08:20 UTC

  Argentine congress passed capital market reform bill; Merval up 6%

  

  The Argentine Congress passed the government's capital markets reform bill on Wednesday, seeking to boost a troubled economy by reducing the power of market regulators and loosening restrictions on some funds investing in Argentina. Investors and economists consider the reform bill key to President Mauricio Macri's effort to boost investment in the country, whose capital markets are far smaller than regional peers.

• Thursday, May 10th 2018 - 07:37 UTC

  Argentine minister meets IMF Lagarde and US Treasury official: ratifies “gradualism”

  

  Argentina Economy Minister Nicolas Dujovne is due to meet on Thursday with IMF chief Christine Lagarde to request a financing package to help shore up the struggling economy, officials said. Dujovne will also meet with a senior US Treasury official in a key step in the talks with the IMF, which are likely to last six weeks, his spokesman said in a statement.