Economy

Monday, August 29th 2016 - 03:59 UTC
Court ruling and economy contraction push Argentine inflation down in August

Inflation in Argentina during the current month of August could drop to 0.7% because of the Supreme Court’s decision to strike down the hikes in natural gas prices for residential users, according to the official stats office Indec. Similar stats also indicate a strong contraction of the Argentine economy.
Sunday, August 28th 2016 - 03:56 UTC
Rousseff takes the stand on Monday, following the round of defense witnesses

Suspended Brazilian president Dilma Rousseff's former economy minister testified Saturday that Rousseff did not break any laws justifying impeachment, as her trial closed in on next week's climax. Rousseff is accused of taking illegal state loans to help bridge budget shortfalls and mask the true state of the economy during her 2014 reelection campaign. The president argues the charges are trumped up and amount to a rightwing coup.
Saturday, August 27th 2016 - 05:32 UTC
Tierra del Fuego gas field inauguración suspended; Macri wants to attend

The inauguration ceremony of the Vega Pléyade natural gas field offshore Tierra del Fuego scheduled for Friday, has been postponed, although no official explanation has been given, it is believed that Argentine President Mauricio Macri was determined to attend, but his political agenda is too full precisely over the energy controversy and the fact next week he flies to China for the G20 summit.
Friday, August 26th 2016 - 11:44 UTC
Total inaugurates gas field offshore Tierra del Fuego with potential production of 10m cubic meters per day

Argentina will officially inaugurate this Friday the Vega Pléyade natural gas field, twenty kilometers offshore Tierra del Fuego to the south of the San Sebastián bay. The field started production last February and as “a production potential of 10 million cubic meters per day”.
Friday, August 26th 2016 - 10:55 UTC
Argentina's economy contracts 4.3% year-on-year in June

Argentina's economy shrank 4.3% year-on-year in June, a much sharper contraction than expected in the first official growth data reported during President Mauricio Macri's term.
Friday, August 26th 2016 - 07:01 UTC
Macri claims Kirchnerism created 750.000 government jobs to hide a stagnant economy

President Mauricio Macri expressed concern that Argentina's employment rate “barely exceeds” 40% and criticized previous administrations for creating 750,000 government jobs to hide what he said was its inability to grow the economy.
Thursday, August 25th 2016 - 08:23 UTC
The world has rediscovered Brazil

By Michel Temer, Acting President of the Republic - The Olympic Games were an absolute success. This is the result of the work of each person who helped build the stadiums, the metro, the Olympic Village; each carioca who gave the right directions to our visitors.
Wednesday, August 24th 2016 - 07:53 UTC
Chileans massive protest to end the private pension system; Bachelet's approval plummets to 15%

Tens of thousands of Chileans took to the streets throughout the country on Sunday, seeking to increase pressure on the government to throw out Chile’s private pension system in favor of one that would provide better retirement benefits.
Wednesday, August 24th 2016 - 07:25 UTC
Argentina unemployment in second quarter, 9.3%; first official data since Macri took office

Argentina had 9.3% unemployment in the second quarter of the year, the government's Indec statistics agency said in a report on Tuesday. It was the first official unemployment data to be published by Argentina since Mauricio Macri became president in December.
Tuesday, August 23rd 2016 - 09:03 UTC
Fed vice-president optimistic about US economy employment and inflation targets

The Federal Reserve is close to hitting its targets for US employment and 2% inflation, according to the central bank's vice chairman, Stanley Fischer. In a speech in Colorado, the Fed's number two policymaker was upbeat about the economy's recovery and prospects.