Economy

• Saturday, September 9th 2017 - 19:54 UTC

  Brazil's central bank slashes rate one full percentage point to 8.25%

  

  Brazil's central bank slashed its key interest rate this week by a full percentage point to 8.25%, the eighth consecutive cut as the country slowly exits a painful recession. The one percentage point fall in the base Selic rate had been predicted by markets and matched a previous cut in July.

• Friday, September 8th 2017 - 20:07 UTC

  Agriculture has become the most productive sector of the Brazilian economy

  

  With a robust Harvest Plan coupled with support and development tools organized by the government, Brazil’s agriculture and livestock sector is expected to generate record wealth for Brazil in 2017. Studies show that the segment is likely to grow around 10.74% this year, adding over R$ 30 billion (some US$ 10bn) to the country's GDP.

• Friday, September 8th 2017 - 09:47 UTC

  UK declares state of emergency in several Caribbean Overseas Territories hit by hurricane Irma

  

  A state of emergency has been declared in a British Overseas Territory hit by Hurricane Irma. British Virgin Islands governor Gus Jaspert said there were reports of casualties and fatalities, and help had been requested from the UK. He said radio and other communication channels were extremely limited.

• Friday, September 8th 2017 - 09:28 UTC

  Falklands' Sea Lion funding, Rockhopper's primary focus until end of 2018

  

  Oil and gas business Rockhopper Exploration said on Thursday that its primary focus for the remainder of the financial year was to further progress funding proposals aimed at sanctioning its Sea Lion field project in the Falkland Islands by the end of 2018.

• Friday, September 8th 2017 - 08:49 UTC

  Hyperinflation hits Venezuela in August; US dollar exchange at 20.000 Bolivar

  

  Venezuela's monthly inflation rate jumped to 33.8% in August, with food price rises reaching hyperinflationary levels above 50%, the opposition-controlled National Assembly said on Thursday.

• Friday, September 8th 2017 - 08:42 UTC

  Chile and Argentina working on an energy, gas and power, swap deal

  

  Chile expects to close an energy swap deal with Argentina in the days ahead, Chilean Energy Minister Andres Rebolledo said in an interview Thursday. The neighboring nations are also negotiating the locations for five additional transmission line interconnection points, with an agreement expected as early as January, the minister revealed.

• Thursday, September 7th 2017 - 19:51 UTC

  Round for Boeing in the ongoing WTO dispute with Airbus

  

  US aircraft manufacturer Boeing has won a victory in a long-running dispute with European rival Airbus. The World Trade Organization has reversed on appeal a ruling that Boeing received some state aid to help build its newest aircraft, the 777X.

• Thursday, September 7th 2017 - 18:39 UTC

  Stanley Fischer is stepping down from the Federal Reserve next month

  

  The United States Federal Reserve Vice Chairman Stanley Fischer will resign next month for personal reasons, leaving a fourth vacancy on the seven-member Fed governing board. Fischer is a widely-respected economist who taught at MIT, was head of the Bank of Israel for eight years and vice chairman at Citigroup.

• Thursday, September 7th 2017 - 08:34 UTC

  Clyde shipbuilding unions furious with MoD over building of new frigates

  

  Shipbuilding unions have accused the UK Minister of Defense of reneging on a promise to build five new navy frigates on the Clyde. It came as Defense Secretary Sir Michael Fallon announced that five Type 31e frigates could be built and assembled across several UK shipyards.

• Thursday, September 7th 2017 - 08:23 UTC

  Battle of Brexit Repeal Bill begins; Labour objects since it “grabs power from Parliament”

  

  Britain's Labour will vote against the Brexit Repeal Bill because it will allow ministers to “grab power from Parliament” to slash rights at work and cut protection for consumers and the environment. The party’s statement came as Brexit Secretary David Davis was preparing to deliver a House of Commons statement on a summer of negotiations which the European Union claims has failed to deliver “decisive” progress.