Economy

Wednesday, November 8th 2017 - 07:35 UTC
Finnish company sets out conditions for the building of a second pulp mill in Uruguay

Finland's UPM and the Government of Uruguay have signed an investment agreement, which outlines the local prerequisites for a potential pulp mill investment. The agreement details the roles, commitments and time-line for both parties as well as the relevant items to be agreed prior to the final investment decision, reported the Finnish company in a release on Tuesday.
Wednesday, November 8th 2017 - 05:17 UTC
Nidera Seeds, which operates mostly in Latin America, sold to Syngenta

Chinese grains trader COFCO International has agreed to sell its crop seeds business to Swiss-based Syngenta AG as it overhauls its activities following a series of major overseas acquisitions The deal to sell Nidera Seeds, which operates in Latin America, was announced by COFCO International and Syngenta in a statement on Monday.
Wednesday, November 8th 2017 - 05:06 UTC
Mexico strikes its biggest onshore oil discovery in 15 years; production should begin in 2019

Mexico’s national oil company Pemex has made its biggest onshore oil discovery in 15 years with a find in the eastern state of Veracruz, President Enrique Peña Nieto announced. Pemex made the discovery by drilling its onshore Ixachi well, near the municipality of Cosamaloapan and the overall field is believed to hold some 350 million barrels of proven, probable and possible reserves.
Monday, November 6th 2017 - 08:37 UTC
Brazilian industrial activity reports its best September since 2013

After two years of the most severe recession facing Brazil, economic indicators continue to mark a more positive horizon for the Brazilian economy. Data released by the Brazilian Institute of Geography and Statistics (IBGE) show that the Brazilian industry is heading for a recovery scenario.
Monday, November 6th 2017 - 08:07 UTC
Wall Street and LSE battle to host largest share floatation in history: US$ 100bn of Saudi Arabia's Aramco

President Donald Trump has made a pitch to Saudi Arabia to float the world's biggest oil company in the US. “Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!”, twitted the US president.
Monday, November 6th 2017 - 07:58 UTC
UK Business lobby believes current Brexit negotiations resemble “a prime time soap opera”

Current Brexit negotiations resemble “a prime-time soap opera”, the president of the Confederation of British Industry, CBI, is expected to claim on Monday, according to BBC. Paul Drechsler will tell the lobby group's annual conference it is time for government and business to unite behind “a clear strategy”.
Saturday, November 4th 2017 - 10:45 UTC
Argentina and Peru try to sort out ethanol dispute and sign accord to promote overall trade

Argentina and Peru are seeking to resolve a dispute stemming from Peru’s decision to apply anti-dumping tariffs on imports of Argentine biodiesel a year ago, Peruvian President Pedro Pablo Kuczynski said on Friday.
Saturday, November 4th 2017 - 10:40 UTC
Brazil becoming main supplier of soybean to China at peak US marketing season

Brazil is expected to win a larger share of China’s soybean imports in coming months, hitting U.S. exporters during the peak marketing season for their most valuable farm product as the world grapples with a fifth consecutive bumper crop.
Saturday, November 4th 2017 - 10:02 UTC
Air New Zealand crowned 2018 Airline of the Year in Excellence Awards

Air New Zealand has been crowned 2018 Airline of the Year. The award marks the 5th consecutive year Air New Zealand has received the top honor in its Airline Excellence Awards.
Friday, November 3rd 2017 - 07:58 UTC
Maduro announces “restructuring of all future debt payments”; default round the corner?

Venezuela on Thursday announced plans to restructure its burgeoning foreign debt, a move that may lead to a default by the cash-strapped OPEC nation whose collapsing socialist economy has left its population struggling to find food and medicine.