Economy

Friday, December 30th 2016 - 17:15 UTC
Temer will not bail out heavily indebted Brazilian states

After months of bailing out Brazil's most iconic city and state, Rio de Janeiro will not be getting their debts renegotiated anytime soon. Brazil president Michel Temer said he will veto plans to renegotiate loans with Rio, Minas Gerais and Rio Grande do Sul states. All three states are economic powers of Brazil and have fallen on hard times over the last three years.
Friday, December 30th 2016 - 17:12 UTC
Brazilian banks drastically cutting costs to lower interest rates

The Brazilian government has not pressured state-run banks to free up credit and reduce their spread, but interest rates are likely to fall as the central bank's benchmark Selic rate continues to drop, state-controlled Banco do Brasil Chief Executive Officer Paulo Rogerio Caffarelli said.
Friday, December 30th 2016 - 02:14 UTC
Argentine gov't rules free internet access must be available at all top class airports

Through Resolution 109/2016 of the Regulatory Agency of the National System of Airports (Orsna), published Thursday in the Official Gazette, the supply of ”Wireless Internet Provision Service Standard (WIFI) at Group A airports” became mandatory.
Thursday, December 29th 2016 - 06:07 UTC
ANCAP company in Argentina seeks bankruptcy reorganization proceedings

Uruguayan oil company ANCAP announced Wednesday through a press release that one of its companies, Carboclor S.A., based in Argentina, had turned to the courts to start the reorganization proceedings, known in Argentinian law as “Concurso Preventivo,” which is very similar to the United States' “Chapter Eleven” bankruptcy mechanism.
Wednesday, December 28th 2016 - 21:16 UTC
“Real opportunities” from Brexit forecasts ex Bank of England governor

Lord King, the former governor of the Bank of England, has said that the UK should be “self-confident” about leaving the European Union since there were “real opportunities” for economic reform and new trade deals which meant Brexit could be a success. He highlighted agricultural reform and a developing relationship with the Republic of Ireland as areas where the UK could be positive.
Wednesday, December 28th 2016 - 19:20 UTC
Petrobras/Total partnership; French company plans US$ 1bn annual investments

The Brazilian unit of French energy giant Total SA in Brazil, Total E&P do Brasil, plans annual investments of US$1 billion in Latin America’s largest economy, Valor Econômico quoted Maxime Rabilloud, who heads the Brazilian operation. Rabilloud said Total and Petrobras will keep in contact regarding the possibility of making other deals and forging future partnerships.
Wednesday, December 28th 2016 - 18:41 UTC
UK ambassador to Uruguay, Ian Duddy presents his diplomatic credentials

British ambassador in Uruguay Ian Duddy, on Monday, made the official presentation of his diplomatic credentials to President Tabaré Vázquez, thus completing the formalities of his post.
Wednesday, December 28th 2016 - 04:32 UTC
Falklands a century ago, record prices for exports: wool and whale oil

The Penguin News with background information from the Jane Cameron National Archives has published an interesting article about the Falkland Islands, economy and trade, a century ago in the midst of the First Great War. Wool from a flock of almost 700.000, and whale oil were the Islands main exports in 1916, while coal with soaring prices the main import. A century ago there were 61 births and 17 marriages.
Wednesday, December 28th 2016 - 04:25 UTC
New banknotes received in Venezuela, but they are not available yet

Venezuela's Central Bank took delivery of yet a new batch of bigger denomination banknotes on Tuesday, but the bills where nowhere public to be seen (and spent) as popular unrest mounts, it was reported on Tuesday.
Tuesday, December 27th 2016 - 09:17 UTC
Petrobras plans to claim part of Odebrecht's payments deal in US and Switzerland

Brazilian oil company Petrobras plans to request part of the record anticorruption settlement that construction company Odebrecht SA signed earlier this week with Brazilian, U.S. and Swiss authorities. Petrobras has said it was the victim of the vast bid-rigging and kickbacks scheme that Odebrecht admitted to helping run.