Economy

Wednesday, December 28th 2016 - 04:32 UTC
Falklands a century ago, record prices for exports: wool and whale oil

The Penguin News with background information from the Jane Cameron National Archives has published an interesting article about the Falkland Islands, economy and trade, a century ago in the midst of the First Great War. Wool from a flock of almost 700.000, and whale oil were the Islands main exports in 1916, while coal with soaring prices the main import. A century ago there were 61 births and 17 marriages.
Wednesday, December 28th 2016 - 04:25 UTC
New banknotes received in Venezuela, but they are not available yet

Venezuela's Central Bank took delivery of yet a new batch of bigger denomination banknotes on Tuesday, but the bills where nowhere public to be seen (and spent) as popular unrest mounts, it was reported on Tuesday.
Tuesday, December 27th 2016 - 09:17 UTC
Petrobras plans to claim part of Odebrecht's payments deal in US and Switzerland

Brazilian oil company Petrobras plans to request part of the record anticorruption settlement that construction company Odebrecht SA signed earlier this week with Brazilian, U.S. and Swiss authorities. Petrobras has said it was the victim of the vast bid-rigging and kickbacks scheme that Odebrecht admitted to helping run.
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.