Economy

Tuesday, November 1st 2016 - 01:30 UTC
Insignia marks the official beginning of the cruise season for Punta Arenas

With the arrival this Monday of M/V Insignia to Punta Arenas in the extreme south of Chile, and capital of the Magallanes region has officially declared opened the 2016/17 cruise season. It is estimated that 102.000 tourists will be visiting the region, although the number of vessel calls will drop drastically from 121 to 86.
Sunday, October 30th 2016 - 22:44 UTC
US economy expands at its fastest pace in two years in the third quarter

The US economy grew at the fastest pace in two years in the third quarter, initial figures have indicated. The world's largest economy grew at an annual rate of 2.9% in the three months to September, the Commerce Department said. Analysts had predicted growth of just 2.5%.
Saturday, October 29th 2016 - 10:46 UTC
Post Brexit UK economy surprises and grows above expectations

The UK economy grew by 0.5% in the three months after the Brexit vote, the Office for National Statistics (ONS) has said. The figure for July to September was down from the 0.7% growth recorded in the second quarter of 2016 - the months before Britain voted to leave the European Union.
Saturday, October 29th 2016 - 10:07 UTC
South Atlantic deep water seismic survey between YPF and Norway's Statoil

Argentina's oil company YPF and Norway's Statoil have signed a cooperation agreement to further gather information on Argentina's offshore potential. The accord was signed in Oslo between YPF CEO Ricardo Darré and Statoil Exploration vice president Tim Dodson.
Friday, October 28th 2016 - 14:28 UTC
Falklands celebrating 30 years of the Fishery that transformed the Islands

The Falklands Islands are recalling a milestone decision for the development and transformation of the economy of the country. On October 29, 1986 a Proclamation declaring the Interim Falklands Conservation and Management Zone was signed by Governor Gordon Jewkes. Director of Natural Resources, John Barton pointed out at a presentation on Wednesday evening to mark 30 years of Falkland Fisheries.
Friday, October 28th 2016 - 12:23 UTC
Renewable energy overtakes coal in electricity generation capacity; half a million solar panels installed every day

The International Energy Agency said in its latest report that last year the world's capacity to generate electricity from renewable sources has now overtaken coal, and renewable accounted for more than half of the increase in power capacity.
Thursday, October 27th 2016 - 04:21 UTC
Reshuffle in the Tata Group; selection committee to look for a new CEO

The board of Tata Sons, the holding company of the Tata Group, has unexpectedly replaced Cyrus Mistry as chairman. Ratan Tata has been named as interim chairman while a selection committee finds a permanent replacement.
Thursday, October 27th 2016 - 03:29 UTC
Lowering interest rates in Brazil will be “moderate and gradual”, says Central bank

Inflation forecasts for the next couple of years point to limited room for monetary easing in Brazil, the central bank said on Tuesday, suggesting it is unlikely to accelerate the pace of interest rate cuts in its November policy meeting. In the minutes of its Oct. 19 meeting, in which it cut its benchmark Selic rate by 25 basis points to 14%, the bank also said it was worried about a recent pause in the slowdown of services price rises.
Thursday, October 27th 2016 - 01:42 UTC
Epic cheese glut in US; farmers dumping milk into lagoons

The United States is currently in the midst of an epic cheese glut — with 1.2 billion pounds of cheese sitting in cold storage. This in practical terms means every man, woman, and child would have to grab an extra three pounds chair. That’s over and above the 36 pounds of cheese per year the average American already eats.
Thursday, October 27th 2016 - 01:23 UTC
Tierra del Fuego PC assembly industry at risk if import tariffs (35%) are lowered

A new challenge for Tierra del Fuego province and its industrial promotion scheme: the Argentina government is planning to eliminate all tariffs on the import of computers and components beginning 2017, which is estimated could cost anywhere from 4.000 to 12.000 jobs.