Economy

• 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.

• Wednesday, December 21st 2016 - 20:09 UTC

  Maduro reopens Colombian border after eight days

  

  The government of Nicolás Maduro Tuesday reopened its border with Colombia, eight days after closing it to combat smuggling, it was announced.

• Wednesday, December 21st 2016 - 17:54 UTC

  Construction of first Argentine-built Argentine Navy ship in almost 40 years commences

  

  The Rio Santiago shipyard (ARS) Tuesday began building the first ship for the Argentine Navy in 38 years, it was announced.

• Wednesday, December 21st 2016 - 01:12 UTC

  Falklands' additional air link to South America has a target launch date: October 2017

  

  Argentina, United Kingdom and Falkland Islands representatives have agreed on a process for an additional air service to the Falklands, from either Brazil or Chile, with a target launch date of October 2017, and likewise will address scientific data exchange in relation to fish stocks in the South Atlantic, particularly regarding the migratory Illex stock.

• Tuesday, December 20th 2016 - 08:57 UTC

  Brazil's Vale sells its fertilizer business to cut debt

  

  Brazil's Vale, the world’s largest iron ore and nickel miner said on Monday it will sell most of its fertilizer business to US-based Mosaic Co., the No.1 producer of phosphate fertilizer, in a deal worth about US$2.5 billion.

• Tuesday, December 20th 2016 - 08:53 UTC

  Macri manages to neutralize labor unrest with accord on income tax floor

  

  The Argentine government managed on Monday a great breathing space after reaching an understanding with labor unions on income tax cuts which threatened to derail relations with organized labor, and now also ensure a peaceful end of the year holidays. During the morning and while negotiations were ongoing, transport unions showed their muscle paralyzing flights, trains, buses and subways, in the main cities of the country.