Economy

Friday, October 27th 2017 - 08:38 UTC
EU confirms commitment to reach trade accord with Mercosur by end of the year

European Union leaders have agreed to press ahead with Mercosur talks and European Commission president Jean-Claude Juncker confirmed the bloc will “continue to do everything” to conclude a deal before the end of the year. “It's important,” Mr Juncker said. “We underestimate the importance of Mercosur for the European Union.”
Thursday, October 26th 2017 - 06:49 UTC
YPF unveils ambitious US$ 30bn five-year investment plan

Argentina's state-controlled energy company YPF has unveiled a US$ 30bn five-year investment plan to boost oil production and sharpen its focus on electric power generation. Some US$21.5bn will come from YPF's own coffers, with the remainder to be sourced from its project partners, the company said in a statement on Wednesday.
Thursday, October 26th 2017 - 06:04 UTC
Bloomberg describes Brexit as the “single stupidest thing any country has ever done”

Michael Bloomberg, the billionaire media mogul and former mayor of New York, has said Brexit is the “single stupidest thing any country has ever done” apart from the election of Donald Trump as US president. Bloomberg argued that “it is really hard to understand why a country that was doing so well wanted to ruin it” with the Brexit vote, in a series of outspoken remarks made at a technology conference in Boston a fortnight ago.
Thursday, October 26th 2017 - 02:26 UTC
World wine production at its lowest in 50 years; Europe hard hit, but Argentina will see 25% increase

World wine production is having a historically bad year. Europe, home to the world's leading wine producers, is making wine at significantly lower levels than usual – and that's because of “extreme weather events” such as frost and drought that have damaged vineyards, according to the International Organization of Vine and Wine, (OIV)
Wednesday, October 25th 2017 - 10:02 UTC
Macri reminds cabinet “more votes, means more responsibilities”

“I'm not that happy, more votes means more responsibilities”, Argentine president Mauricio Macri told his ministers when they applauded him on entering the first cabinet meeting following on Sunday's victory of the ruling coalition, Let's Change in the midterm elections.
Wednesday, October 25th 2017 - 09:35 UTC
Weak pound makes UK one of the best-value travel destinations, says Lonely Planet

The weak pound has made the UK one of the world's best-value travel destinations, according to publisher Lonely Planet. Sterling has fallen sharply against the dollar and the euro since last year after ongoing Brexit uncertainty.
Wednesday, October 25th 2017 - 09:15 UTC
Falkland Islands sets its Economic Priorities for the coming Decade

Over recent months the Falkland Islands Government have undertaken a review and refresh of the Economic Development Strategy for the Islands.
Tuesday, October 24th 2017 - 22:50 UTC
Mexican government struck by Odebrecht's bribe money

Mexican President Enrique Peña Nieto faces a tough choice on whether to pursue a graft probe involving a prominent ally and Brazilian construction firm Odebrecht.
Tuesday, October 24th 2017 - 07:37 UTC
Brazil's Temer admits the pensions' reform could be delayed until next year

Brazil's President Michel Temer admits for the first time that the crucial pension reform legislation could not be passed by Congress this year. In an interview with Poder360 news website, Temer said the government had to again consult lawmakers in the government coalition, many of whom have already said they are doubtful the legislation will pass this year.
Tuesday, October 24th 2017 - 06:58 UTC
Venezuela delaying debt payments: foreign reserves down to US$ 9.9 billion

One week before Venezuela faces a critical debt payment, the distressed country is already late on a series of smaller bills. The nation's state-owned oil giant, Petroleos de Venezuela, SA, has two major bond payments totaling about US$2 billion coming due in the next two weeks.