Economy

• Friday, January 5th 2018 - 11:05 UTC

  Petrobras Brazilian shareholders demand similar payment as those in a class action lawsuit in US

  

  Brazilian shareholders of state-controlled Petrobras are petitioning a Brazilian court to be paid on similar terms as those given to U.S. shareholders in a US$ 2.95 billion settlement, according to lawyers representing them.

• Friday, January 5th 2018 - 10:39 UTC

  Chinese locomotives to revive Argentina's cargo train network

  

  A new shipment of Chinese-made locomotives arrived in the Port of Buenos Aires on Wednesday to revive Argentina's key Belgrano Cargas cargo train network. The eight locomotives will form part of a strategic rail line that traverses northern Argentina's agricultural heartland and connects producers with the eastern exporting hub of Rosario, a port located 300 km north of the capital.

• Friday, January 5th 2018 - 10:20 UTC

  Argentina sells US$ 9bn in bonds, “at the lowest yields in the country's history”

  

  Argentina sold US$ 9 billion in a three-part dollar bond issuance that was oversubscribed on Thursday, covering nearly a third of its expected financing needs for 2018 early in the year. Latin America’s third largest economy sold US$1.75 billion in five-year bonds at a yield of 4.625%, US$ 4.25 billion of 10-year bonds at 6% and US$3 billion in 30-year bonds at 7%, the ministry said. It said the yields were the lowest in Argentina’s history.

• Friday, January 5th 2018 - 10:00 UTC

  Controversy in Brazil for self imposed ban on sea food exports to Europe

  

  The Brazilian aquaculture association Peixe BR criticized the temporary suspension of fish and shellfish exports to the European Union (EU) self-imposed by the Brazilian government. The entity which represents more than half of the Brazilian production of farmed fish argued that “without doubt, this is bad news, but it can't be said that it is unexpected or that it has been a surprise for the Brazilian authorities”.

• Friday, January 5th 2018 - 09:44 UTC

  Galicia medium sized fish processing plants benefit with 8.3m Euros

  

  A total of 50 small and medium-sized companies in Galicia were beneficiaries of the 2017 call for investments aid that result in improvements in the processing of fishery, shellfish and aquaculture products. This was announced by the Minister of Marine Affairs, Rosa Quintana, at the Pobra do Caramiñal, during a visit to the refrigeration logistics company Alimentos Cruz del Sur (Alicrusa), one of the beneficiaries.

• Friday, January 5th 2018 - 09:39 UTC

  Scottish seafood processing industry threatened by Brexit: most workers from EEA

  

  A study into employment patterns of non-UK workers showed that 58% of Scottish seafood processing business employees come from other countries of the European Economic Area (EEA).

• Thursday, January 4th 2018 - 09:18 UTC

  Petrobras agrees to pay US$ 2.95bn to settle class action suit in New York

  

  Petrobras has agreed to pay US$2.95 billion to settle a class action suit in New York brought on behalf of investors harmed by a huge corruption scandal at the Brazilian state oil giant, the company said on Wednesday.

• Thursday, January 4th 2018 - 08:05 UTC

  UK farmers growing concern about a post Brexit scenario

  

  Post-Brexit trade deals could pose the biggest peacetime threat to the UK's food security if welfare standards and farmers are not protected, MPs say. Imports of food produced with lower welfare standards should not be allowed, the All-Party Parliamentary Group on Agro-ecology warns.

• Thursday, January 4th 2018 - 05:38 UTC

  China announces it will begin “a greater push” to conquer trade in the hemisphere

  

  In a Spanish-language opinion piece in one of the nation’s largest newspapers, Chinese Ambassador to Argentina Yang Wanming urged Latin American nations to increase trade ties to China, promoting Beijing’s “One Belt One Road” project and warning Beijing will begin a “greater push” to conquer trade in the hemisphere.

• Wednesday, January 3rd 2018 - 10:33 UTC

  Private operators take over Brazil's Fortaleza and Porto Alegre airports

  

  Fraport Brasil (a wholly-owned subsidiary of Fraport AG) started operations at Fortaleza’s Pinto Martins International Airport (FOR) and Porto Alegre’s Salgado Filho International Airport (POA).