Economy

• Tuesday, December 27th 2016 - 09:12 UTC

  Brazil's trade balance with a US$ 45bn surplus record

  

  Brazil's trade balance reached a surplus of US$ 45bn by the third week of December. The third week period recorded a US$ 864 million surplus from exports of US$ 3.969bn and imports of US$ 3.105bn. The result is far better than last year when the whole year surplus was US$ 19.69 billion.

• Tuesday, December 27th 2016 - 09:03 UTC

  Deutsche Bank and Credit Suisse reach payment deals with US authorities on sub-prime scams

  

  Germany's Deutsche Bank announced it has agreed a US$7.2bn payment to US authorities over an investigation into mortgage-backed securities. The sum, which needs final approval, is far lower than the US$14bn the US had asked the bank to pay in September. The looming fine had caused concerns that a failure of the bank could pose a risk to the global financial system.

• Tuesday, December 27th 2016 - 08:41 UTC

  Iranian currency on freefall as Trump's inauguration approaches

  

  Iran's monetary unit, the rial, reached a new low against the U.S. dollar on Monday in what was perceived as a sign of doubt about the country's future following the inauguration of US President-elect Donald Trump on January 20. Presidential elections in Iran next year also played a part.

• Tuesday, December 27th 2016 - 08:08 UTC

  Cartes vetoes 2017 budget to avoid risk of Paraguay's default

  

  President Horacio Cartes Monday vetoed the 2017 budget to avoid the risk of default after the Senate set a ceiling on the amount of debt the government could issue.

• Monday, December 26th 2016 - 23:37 UTC

  Macri reshuffles economic team after the promised second half recovery never arrived

  

  Argentine President Mauricio Macri on Monday reshuffled his economic team removing finance minister Alfonso Prat-Gay amid a stubborn recession, soaring budget deficit, a discussion on gradualism to address inflation and public opinion deep disappointment with center-right reforms.

• Saturday, December 24th 2016 - 17:50 UTC

  UK and Brazil agree on a Business Dialogue to address commercial and political issues

  

  The United Kingdom and Brazil announced the creation of the Anglo-Brazilian Business Dialogue, which aims to establish a bilateral business dialogue to address commercial and political issues affecting UK and Brazilian companies in their respective markets and to refer them to the upper echelons of both governments. This was achieved during the recent visit to Brazil of Liam Fox, British Secretary of State for International Trade

• Saturday, December 24th 2016 - 03:44 UTC

  US economy expands 3.5% annualized in the third quarter

  

  The US economy grew even faster than thought in the July-to-September period, latest official figures indicate. The world's largest economy grew at an annualized rate of 3.5% in the quarter, up from an earlier estimate of 3.2%, the Department of Commerce said.

• Friday, December 23rd 2016 - 04:03 UTC

  Falklands' Chamber of Commerce: second flight desperately required

  

  The Falkland Islands Chamber of Commerce underlined its support for a second flight to the South American continent, and its significance for the development of business and all sectors of the economy. Stacy Bragger, Executive Secretary of the Chamber had a letter published in this week's Penguin News.

• Friday, December 23rd 2016 - 02:06 UTC

  Argentine lemons re-entry spark protests from California citrus growers

  

  Sparking protest from California citrus leaders, the U.S. Department of Agriculture has ruled that fresh lemons from Argentina will be allowed to be imported into the U.S. The rule is the result of ten years of study on pest risks associated with Argentina lemons, according to the USDA. A proposal to allow Argentina lemon imports was published in May this year and received more than 400 comments.

• Friday, December 23rd 2016 - 00:39 UTC

  Falklands' Sea Lion oil field development “break-even price is US$ 45/bbl”

  

  Rockhopper Exploration has issued an update on planning for Phase 1 of the Sea Lion oil field development in the offshore North Falkland basin. Operator Premier's latest estimate of capex to first oil is US$1.5 billion, with life of field costs (capex, opex, and lease) of around US$35/bbl for Phase 1.