Economy

• 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.

• Friday, December 23rd 2016 - 00:25 UTC

  Greek present for Trump: Obama and Trudeau ban offshore oil and gas drilling in Atlantic and Arctic waters

  

  In the final stretch of his term President Barack Obama is implementing new environmental protections that stand to thwart Donald Trump's agenda on oil and gas extraction in ways that may prove difficult for the president-elect to roll back. The Obama administration announced on Tuesday that it will place an indefinite ban on offshore oil and gas drilling across large swaths of Atlantic and Arctic waters.

• Thursday, December 22nd 2016 - 23:22 UTC

  A good one for Brazil: excellent prospects for agribusiness in 2017

  

  Brazil’s farm economy will rebound in 2017 with a record harvest pushing up grain exports and expanding the country’s livestock industry, according to analysts’ forecasts. An estimated record grain harvest of 213.1 million tons would be 14% larger than last year, when crops were devastated by drought, according to Brazil government estimates. The harvest will start in January.