Economy

Thursday, April 20th 2017 - 23:21 UTC
Russian shipping conglomerate suing Venezuela's oil giant PDVSA for unpaid fees

Venezuela's state-run oil company, PDVSA, sent a tanker in October to the Caribbean with the expectation that its cargo of crude would fetch about US$20 million - money the crisis-stricken nation desperately needs. Instead, the owner of the tanker, the Russian state-owned shipping conglomerate Sovcomflot, held the oil in hopes of collecting partial payment on US$30 million that it says PDVSA owes for unpaid shipping fees.
Thursday, April 20th 2017 - 06:33 UTC
Chubut province declared in state of emergency and agriculture disaster

Chubut province in Argentine Patagonia has been declared in state of emergency and eight of its 16 counties in agriculture disaster as a consequence of torrential rainfall and mudslides which have left huge areas isolateds, or cut off from the communications network.
Wednesday, April 19th 2017 - 21:12 UTC
World Bank praise for Latam countries pursuing counter-cyclical fiscal policies

In a positive development, today more than ever before, Latin American and Caribbean countries are pursuing counter-cyclical fiscal policies - spending more in bad times and saving in good times, according to a new World Bank semiannual report for the region.
Wednesday, April 19th 2017 - 14:38 UTC
Brazilian economy gives signs of recovery, but many challenges remain

Economic activity in Brazil grew in February at the fastest pace since January 2010, a central bank indicator showed this week, in the strongest sign yet that Latin America's largest economy is emerging from a two-year recession. Bumper harvests are expected to have lifted agricultural production in the first quarter of the year, while industrial output improved on a pickup in car exports.
Wednesday, April 19th 2017 - 05:49 UTC
The disputed FIH Group plans to release this week a trading update

FIH Group PLC said on Tuesday it plans to release a trading update later this week which will outline its anticipated results for the recently ended financial year while also updating shareholders on the future strategy following failed takeover offers for the firm.
Wednesday, April 19th 2017 - 04:59 UTC
The snap election and consequences seen from the European Union

Prime Minister Theresa May announcement of a June snap election could strengthen her hand in the Brexit negotiations but the rest of the European Union was firm about its position in the two-year talks, insisting that their stance would be unchanged whatever the result.
Wednesday, April 19th 2017 - 04:13 UTC
Macri confident a Mercosur/European Union trade accord can be expected in the second half of 2017

Argentine president Mauricio Macri is convinced that in the second half of the year Mercosur will sign the long awaited trade agreement with the European Union and will establish closer links with the Pacific Alliance, according to a report in one of Buenos Aires leading radios.
Monday, April 17th 2017 - 12:33 UTC
Post-Brexit: Lloyds Group wants to convert its Berlin branch into a European hub

Lloyds Banking Group has decided to set up a European base in Germany after the UK leaves the EU, according to the BBC. Lloyds has decided to convert its Berlin branch into a European hub, in order to maintain a presence inside the EU, sources told the BBC.
Saturday, April 15th 2017 - 09:37 UTC
Trump backtracks: China is not a currency manipulator, and praises Janet Yellen

President Donald Trump has said his administration will not label China a currency manipulator, rowing back on a campaign promise. The US president also left open the possibility of re-nominating Janet Yellen as the head of the Federal Reserve, despite having criticized her.
Saturday, April 15th 2017 - 07:39 UTC
China becomes Chile's leading wine market ahead of United States

China overtook the United States in 2016 to become Chile's No. 1 wine market, Angelica Valenzuela, commercial director of Vinos de Chile, said. Wine consumption in China grew 13.8% last year, Valenzuela told reporters at a press conference organized by the Imagen de Chile Foundation, an agency charged with promoting the national brand