Economy

• Thursday, December 28th 2017 - 10:18 UTC

  Argentina's stock market Merval has gained around 75% in the last twelve months

  

  Merval, the benchmark stock market index in Argentina, rose 0.25% to 29,260.33 on Wednesday, reflecting investor optimism that the Senate would pass the 2018 budget and a tax reform. It was the seventh consecutive increase of the index.

• Thursday, December 28th 2017 - 10:15 UTC

  YPF reaches agreement and will pay US$ 114m on a conflict from 2009

  

  Argentina's state-owned oil company YPF will pay US$ 114 million to Transportadora de Gas del Mercosur (TGM) to end a conflict that began in 2009 when the company suspended the shipment of natural gas.

• Thursday, December 28th 2017 - 10:03 UTC

  Brazil creates National Mining Agency to promote and regulate the industry

  

  Brazil's President Michel Temer has approved a law to create a National Mining Agency (ANM), according to a statement published in Wednesday's edition of the country's official gazette.

• Thursday, December 28th 2017 - 09:59 UTC

  Parliament demands release of studies on potential impact of Brexit on the economy

  

  The United Kingdom government is facing new calls to release confidential studies drawn up by officials looking at the potential impact of Brexit on the economy. Twenty-five Labour MPs have written to Chancellor Philip Hammond calling on him to release the material after he disclosed the work was being carried out during a recent session of the Commons Treasury Committee.

• Thursday, December 28th 2017 - 09:44 UTC

  Latin America has started to look seriously at Indian economy and opportunities By R. Viswanathan  

  

  Latin America's GDP growth is projected to increase to 2.2% in 2018 from 1.3% in 2017. The Pink Tide  has receded for the moment, giving rise to more centre right governments in the region. In 2018, Brazil, Mexico, Colombia, Costa Rica, Paraguay and Venezuela will have presidential elections. Venezuela’s political and economic tragedy could get worse.

• Thursday, December 28th 2017 - 09:24 UTC

  Brazil suspends fish exports to the EU over inspection discrepancies

  

  Brazil said it was suspending fish exports to the European Union in response to concerns raised by Brussels' veterinary inspectors. The move was aimed at preventing the EU itself from ordering a suspension, said Luis Rangel, the secretary of state in charge of fisheries.

• Wednesday, December 27th 2017 - 14:54 UTC

  Gasoline, another kind of business in Venezuelan scarcity

  

  It is paradoxical how a country with the largest oil reserves in the world has a shortage of gasoline. Of course, Venezuela does not produce gasoline as such, but sells crude oil and imports gasoline, so with the sanctions imposed by various nations and the very crisis that PDVSA (State Company) suffers - which according to the unions works approximately 13% of its capacity- complicate the problem.

• Wednesday, December 27th 2017 - 11:08 UTC

  Argentine Air Force base turned into an airport for low cost airlines' operations

  

  El Palomar airport to the west of metropolitan Buenos Aires was officially incorporated to Argentina's National System of Airports and will be open for the low cost airlines to operate, beginning January.

• Wednesday, December 27th 2017 - 10:44 UTC

  Brazil is the world's ninth largest producer of hydrocarbons

  

  Brazil has produced 3.3 million barrels per day (b/d) of petroleum and other liquids so far in 2017, according to data through August, up from 3.2 million b/d in 2016, making it the ninth-largest producer of petroleum and other liquids in the world. Production of crude oil in Brazil increased in recent years as producers targeted large, offshore, pre-salt oil deposits. Brazil’s pre-salt oil production in 2016 reached a record 1.02 million b/d, surpassing the 2015 production level by 33%.

• Wednesday, December 27th 2017 - 09:52 UTC

  US poverty rate down; but top 5% of families accounted for more than one fifth of total income in 2016

  

  A stronger US economy lifted American household incomes in 2016 and drove the poverty rate down to the level seen before the financial crisis. The median household income increased by 3.2% to US$59,039, rising for a second consecutive year as more people found full time jobs.