Economy

• Friday, September 22nd 2017 - 09:25 UTC

  Chilean central bank revokes reciprocal credit line with Venezuela

  

  Chile’s central bank said it had revoked a reciprocal credit line with its Venezuelan counterpart, citing what it called Venezuela’s failure to pay back its debts. In a statement, Chile’s central bank said it had notified Venezuela’s central bank and that the line would be cancelled within 10 days.

• Friday, September 22nd 2017 - 09:07 UTC

  Brazil fears Venezuelan default on US$ 5bn contracts: it missed US$ 262m payments

  

  Brazilian officials plan to visit Venezuela next week to prevent Caracas from defaulting on contracts worth as much as US$5 billion after falling in arrears on a payment due to infrastructure contractors this month, newspaper Folha de Sao Paulo reported on Thursday.

• Friday, September 22nd 2017 - 08:32 UTC

  Sale of tickets for the commercial air service to St Helena came live this Friday

  

  The sale of tickets for the scheduled air service to the British Overseas Territory of St Helena went live on Friday. Airlink will operate a weekly service between St Helena and Johannesburg and St Helena and Cape Town, via the stopover at Windhoek International Airport in Namibia. Flights will commence on Saturday, October 14.

• Thursday, September 21st 2017 - 07:57 UTC

  Secretary of State for Scotland on a three/day visit to Argentina

  

  The Secretary of State for Scotland, David Mundell, will start an official visit to Argentina during which he will hold meetings with national authorities, private sector representatives, and members of the civil society. The purpose of his trip to South America, which started on Tuesday with a visit to Paraguay, is to promote Scottish business interests and build cultural and educational links.

• Wednesday, September 20th 2017 - 22:26 UTC

  Petrobras recovers significant investment risk and trims debt burden

  

  Petrobras raised US$2 billion from the sale of seven- and 10-year securities, replacing more expensive shorter-dated bonds as it seeks to trim a debt burden that is the largest among major oil firms. Petrobras sold US$1 billion each worth of senior unsecured bonds due in 2025 and 2028, respectively. Market experts said Petrobras sold the January 2025 bond at a yield of 5.3%, and the January 2028 bond at 6%.

• Wednesday, September 20th 2017 - 22:12 UTC

  US current account deficit climbing, but so is net capital inflows

  

  US current account deficit, which is the broadest measure of US trade, rose to US$123.1bn in the second quarter - its highest level since 2008. The rising gap was driven by a US$5.2bn fall in income receipts from foreigners, particularly in government fines and penalties.

• Wednesday, September 20th 2017 - 18:32 UTC

  Argentina 2018 budget bill forecasts growth of 3.5% and 15.7% inflation

  

  Argentina’s 2018 budget bill forecasts economic growth of 3.5% next year and average annual inflation of 15.7%, Treasury Minister Nicolas Dujovne told Congress. The bill proposes a 2018 primary fiscal deficit of 3.2% of gross domestic product (GDP) as previously announced.

• Tuesday, September 19th 2017 - 20:21 UTC

  UK interest rate increase gradual, with “appropriate withdrawal of monetary stimulus”

  

  Any increases in UK interest rates in the coming months will be “gradual” and “limited”, the Bank of England governor Mark Carney has said, but “some withdrawal of monetary stimulus is likely to be appropriate over the coming months” to help return inflation to its 2% target.

• Tuesday, September 19th 2017 - 20:06 UTC

  Brazil August beef exports increase 34% year on year: 145.822 tons

  

  Brazil’s total beef exports in August rose by 34% year-on-year both by volume and in revenue terms, industry group Abiec said on Monday, indicating the worst of a food safety scandal that rocked Brazil’s protein industry may be over.

• Tuesday, September 19th 2017 - 19:57 UTC

  Irish and French farmers warn about Mercosur/EU beef negotiations

  

  News of a potential offer of a tariff rate quota for 85,000 tons of beef in the Mercosur/European Union negotiations has triggered a dismayed reaction from the ICSA’s (Irish Cattle and Sheep Farmers’ Association’s) Beef Chairman Edmond Phelan.