Economy

• Thursday, July 13th 2017 - 09:05 UTC

  UK embassy in Uruguay readying for Expo-Prado 2017; Falklands will also attend

  

  Following the previous edition’s success, the British Embassy in Uruguay will be present for the fourth consecutive year at the agricultural show, Expo Prado, from 6 - 17 September, with a Pavilion centered on business, education, culture, gastronomy and entertainment, including a Falkland Islands stand.

• Wednesday, July 12th 2017 - 21:26 UTC

  Brexit divorce bill: “I’m not hearing any whistling, just the clock ticking” says EU chief negotiator

  

  European Union’s chief Brexit negotiator has slapped down Boris Johnson over his claim that Brussels could “go whistle” if it expected large sums from Britain as part of the withdrawal agreement.

• Wednesday, July 12th 2017 - 20:12 UTC

  Premier and partners make world class oil discovery in Mexico. Shares soar more than 30%

  

  Premier Oil (with strong interests in Falklands' oil industry), together with its joint venture partners Talos Energy (Operator) and Sierra Oil & Gas, announced on Wednesday that the Zama-1 exploration well in Block 7, offshore Mexico, has made a world class oil discovery.

• Wednesday, July 12th 2017 - 05:32 UTC

  EU can “go whistle”, says Boris Johnson of Brexit divorce bill

  

  Foreign Secretary Boris Johnson has told MPs the European Union can “go whistle” for any “extortionate” final payment from the UK on Brexit. He added the government had “no plan” for what to do in the event of no deal being agreed with the EU.

• Wednesday, July 12th 2017 - 04:21 UTC

  Oil and gas production in Argentina has fallen to its lowest in 25 years

  

  Oil and gas production in Argentina has fallen to 1981 levels, the lowest in 25 years, despite a $14 million government subsidy for the first five months of this year. From last year to May 2017, the country has produced 2,311,736 m3 of oil and just under 3.8 billion m3 of gas, which shows a drop of 6% and 1.8% respectively.

• Tuesday, July 11th 2017 - 19:44 UTC

  Philip Morris ordered to pay Australia millions after losing packaging lawsuit

  

  Tobacco giant Philip Morris has been ordered to pay the Australian government millions of dollars after unsuccessfully suing the nation over its world-first plain-packaging laws.

• Tuesday, July 11th 2017 - 12:11 UTC

  Old round pound rolling out replaced by the new 12-sided coin

  

  The old round pound is on the way out, slowly being replaced by the new 12-sided coin, brought in by the Royal Mint in attempt to thwart forgers. Both pound coins are currently in circulation, but soon the old pound coin will lose its status as legal tender and will be worth no more than the metal it's printed on.

• Tuesday, July 11th 2017 - 08:21 UTC

  Chile lowers growth forecast in 2017; June data showed surprise deflation of 0.4%

  

  Chile's government has cut its forecast for 2017 economic growth to 1.5% from 2.25%, Finance Minister Rodrigo Valdes said on Monday as the long-awaited recovery remains elusive.

• Tuesday, July 11th 2017 - 07:47 UTC

  Meirelles confident Brazil is climbing out of worst recession in history

  

  Speaking during the G20 summit in Hamburg, Germany, Henrique Meirelles gave more details about Brazil's economic recovery trajectory.

• Monday, July 10th 2017 - 17:45 UTC

  Don't hold your breath for deeper OPEC cuts

  

  The rally in oil prices over the past two weeks came to a halt on news that OPEC is actually exporting more oil than previously thought. A month ago, oil prices appeared to be higher than they should have been, with weak demand, elevated inventories, and a recognition that the nine-month OPEC extension would be inadequate to balance the market.