Economy

• Friday, January 12th 2018 - 10:58 UTC

  S&P downgrades Brazil's credit rating; delay of pension system reform takes the blame

  

  Ratings agency Standard & Poor’s cut Brazil’s credit rating further below investment grade on Thursday as doubts grew about a presidential election in October and a push to trim its costly pension system, seen as vital to closing a huge fiscal deficit. S&P lowered its long-term rating for Brazil sovereign debt to BB- from BB previously, with a stable outlook, citing less timely and effective policymaking. S&P also cited a risk of greater policy uncertainty after this year’s elections.

• Friday, January 12th 2018 - 10:50 UTC

  Argentina inflation reached 24.8% in 2017, well above central bank's target

  

  Consumer prices in Argentina rose 24.8% in 2017 after a sharp 3.1% increase in December, government data showed on Thursday, well above the central bank's target range for annual inflation of 12-17%t. The monthly reading, which was above median expectations in December of 2.5%.

• Friday, January 12th 2018 - 10:26 UTC

  Brazilian inflation ends 2017 at 2.95%, below the bottom of central bank target

  

  The annual inflation rate in Brazil increased to 2.95% in December, from 2.50% in November, rising above economists' projections of 2.80%, but ending the year below the bottom of the central bank's target for 2017, which ranged from 3% to 6%.

• Friday, January 12th 2018 - 07:39 UTC

  Falklands: Rockhopper satisfied with advance of Sea Lion project

  

  Rockhopper Exploration said the Sea Lion phase 1 project in the North Falkland Basin was moving towards sanction at the end of 2018. London-listed Rockhopper said project partners had been focusing on securing the US$1.5billion of capex required to achieve first oil.

• Friday, January 12th 2018 - 07:18 UTC

  Falklands concern with vast fishing fleet gathering on high seas

  

  A vast fleet of fishing vessels assembling to catch Illex squid on the high seas, some 400 miles north of the Falkland Islands, is an issue of concern to the Falkland Islands Fisheries Department.

• Thursday, January 11th 2018 - 09:48 UTC

  Canada accuses US of breaking international trade rules; files complaint with WTO

  

  Canada has filed an expansive complaint with the World Trade Organization accusing the US of breaking international trade rules. The complaint challenges the ways that the US investigates products for subsidies and below-cost sales. As expected the US called the claims “unfounded”.

• Wednesday, January 10th 2018 - 09:57 UTC

  Great recession almost over, “but no time for complacency”, warns World Bank

  

  The World Bank forecasts global economic growth to edge up to 3.1% in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices.

• Wednesday, January 10th 2018 - 09:52 UTC

  Argentine central bank cuts basic rate to 28%; annual inflation target 15%

  

  Argentina’s central bank cut its policy rate to 28% from 28.75%, two weeks after relaxing its 2018 inflation target, the bank said on Tuesday. The bank’s first rate cut in 14 months came after a December 28 news conference announcing an official inflation target for this year of 15%, up from the bank’s previous target range of 8% to 12%.

• Wednesday, January 10th 2018 - 09:25 UTC

  Petro: The cryptocurrency that is not cryptocurrency

  

  According to the journalist specialized in technology Edgar Rincon, the solution devised by the Venezuelan government to evade the “strong and cruel sanctions of the international community to Venezuela”, the Petro, is not a cryptocurrency because “within the guidelines of the cryptocurrency guide does not fit. ”

• Tuesday, January 9th 2018 - 10:01 UTC

  Brazilian stocks edge higher convinced Lula will be barred from running in election

  

  Brazilian stocks edged higher to mark a record close on Monday, underpinned by optimism over the nation's fiscal outlook as well as a strong flow of international investment. The benchmark Bovespa stock index continued its climb following a seven-day string of gains.