Economy

• Wednesday, March 22nd 2017 - 12:01 UTC

  Guyana beats exploration/production record: oil extraction expected to begin 2019

  

  United States oil giant Exxon Mobil Corporation is moving full steam ahead with plans to transform Guyana, in the north of South America, into a major oil producer. In what industry experts call a rare occurrence in the industry, Exxon Mobil has asked the David Granger administration for a production license to start pumping oil from the country’s seabed, less than five years after it discovered major oil finds.

• Wednesday, March 22nd 2017 - 11:50 UTC

  Growing concern of Brazil' rotten meat scandal on the Mercosur/EU trade talks

  

  European Union has insisted Brazilian representatives attend an emergency meeting to explain themselves regarding a scandal involving rotten meat and the country’s two largest exporters, JBS and BRF. Brazil has already announced that the 22 plants (out of over 4.000) allegedly involved in the scam have been closed.

• Wednesday, March 22nd 2017 - 09:32 UTC

  Goldman Sachs moving jobs from London to the European Union

  

  Goldman Sachs will move jobs away from London and bulk up its European presence by “hundreds of people”, a senior executive has said. The US bank's European chief executive, Richard Gnodde, said it would begin the process before the UK leaves the European Union.

• Tuesday, March 21st 2017 - 10:15 UTC

  China, EU, Korea, Chile suspend beef and poultry imports from Brazil

  

  The fallout from Brazil's rotten meat scandal accelerated Monday when China, a huge market, suspended imports and the European Union and South Korea demanded a partial ban. Another ban on Brazilian meat imposed by Chile sparked fears of a trade spat between the two South American partners.

• Tuesday, March 21st 2017 - 07:09 UTC

  UK £1bn export credit for British companies planning to trade with Argentina

  

  The British Government is re-introducing export credit financial support for UK businesses looking to trade with Argentina after an almost 20 year hiatus. The announcement was made in Buenos Aires as part of a visit to South America by International Trade Minister Greg Hands, covering Argentina, Brazil and Peru.

• Tuesday, March 21st 2017 - 06:55 UTC

  UK will notify withdrawal from EU on 29 March; talks expected to begin in May

  

  British Prime Minister Theresa May will trigger EU withdrawal talks under Article 50 on March 29, Downing Street has announced. The Prime Minister’s letter officially notifying the European Council of the UK’s intention to quit will set in train a two-year negotiation process expected to lead to Britain leaving the EU on 29 March 2019.

• Monday, March 20th 2017 - 08:12 UTC

  Brazil desperate to minimize extent of “Weak Flesh”, exposing bribes and poor controls in meat industry

  

  Brazil's President Michel Temer has sought to reassure foreign trade partners that the corruption scandal engulfing the country's meat industry does not mean its products are unsafe. Meeting ambassadors from Europe, the United States and China to share a barbeque, Temer said his government remained confident about the quality of Brazilian meat.

• Saturday, March 18th 2017 - 10:26 UTC

  Argentina authorizes a low cost airline to fly Falklands/Comodoro Rivadavia

  

  The Argentine Ministry of Transport awarded American Jet authorization for an air link between Comodoro Rivadavia, in Patagonia and the Falkland Islands, according to Resolution 136-E/2017 published in the Official Gazette and signed by minister Guillermo Dietrich.

• Saturday, March 18th 2017 - 10:09 UTC

  UK hosts this week Argentine biggest business delegation in 20 years

  

  Finance minister Nicolas Dujovne will be heading this week the largest Argentine business delegation to visit the UK in twenty years, jointly organized by the Argentine-British Chamber of Commerce with support from the Argentine foreign ministry and the embassy in London.

• Friday, March 17th 2017 - 22:02 UTC

  Trade and protectionism in the G20 Brazil/US ministerial agenda

  

  Brazil's finance minister has said that he is ready to listen to the U.S. policies on trade at this weekend's G-20 meeting but speaks from experience when he says he believes a free economy is better for everyone. “Brazil actually has experience of closing down its economy,” Henrique Meirelles said on Thursday.