Economy

• Tuesday, July 26th 2016 - 21:54 UTC

  Petrobras announces plans to sell voting control of its distribution network

  

  Petrobras announced it plans to sell voting control of Petrobras Distribuidora SA after a bidding round for a minority stake in the fuels retailer failed to attract bids that met the state-controlled oil company's needs.

• Tuesday, July 26th 2016 - 21:51 UTC

  Meirelles insists on a cap for government spending, if not taxes will have to rise

  

  Brazil's Finance Minister Henrique Meirelles has warned that if Congress does not approve a ceiling for public spending, the country will have chosen a most cumbersome path with new rounds of tax increases and higher interest rates which will further delay sustainable growth.

• Monday, July 25th 2016 - 10:51 UTC

  Argentina considering phasing out Patagonian ports' fisheries exports

  

  The Argentine government is considering phasing out the incentives which benefit Patagonian ports fisheries exports. The announcement was made by Jorge Metz, Ports Under Secretary during a recent visit to Bahía Blanca although pointing out the issue was still under consideration by the cabinet chief office, but some advances would be made public in a month's time.

• Thursday, July 21st 2016 - 08:07 UTC

  PM May announces in Germany negotiations for an “orderly departure” from EU this year

  

  Prime Minister Theresa May has said the UK will not begin official negotiations on leaving the EU this year as she held talks with Germany's Chancellor Angela Merkel. Speaking in Berlin on Wednesday, the PM said securing a “sensible and orderly departure” from the EU would take time, but she insisted the UK would not “walk away” from Europe and wanted to retain the “closest economic links”.

• Thursday, July 21st 2016 - 07:29 UTC

  Brazil leaves rate unchanged at 14.25%; stubborn inflation despite recession

  

  Brazil's central bank, with its recently appointed president, kept interest rates on hold for the eighth consecutive meeting on Wednesday as expected, despite a deep recession, as the new board cited concern about stubbornly high inflation and uncertainty surrounding economic reforms.

• Wednesday, July 20th 2016 - 06:29 UTC

  Falkland Islands Government appoints Canadian Head of Policy

  

  Diane Simsovic has been announced as the new Head of Policy for the Falkland Islands Government. Simsovic is Canadian and has more than 35 years’ experience in the private and public sectors, with a background working at municipal, provincial and federal levels of Government, primarily focussing on economic development and growth. Ms Simsovic has also previously worked in environmental engineering and management consultancy.

• Wednesday, July 20th 2016 - 05:25 UTC

  Falklands must be involved in a tripartite dialogue, if Argentina's new policy is to be positive

  

  Argentina's collaboration strategy towards the UK and the Falkland Islands, if it means integrating the Islanders in any discussions relative to their lives and future, which is only of their concern, “this is positive”, according to Gibraltar Chief Minister Fabian Picardo, interviewed by Argentina's official news agency Telam.

• Wednesday, July 20th 2016 - 03:56 UTC

  Theresa May begins tour of European capitals: Wednesday with Merkel, Thursday with Hollande

  

  British Prime Minister Theresa May on Wednesday will take off for her first tour of European capitals visiting Germany and France where she anticipated discussions about the UK leaving the EU must be “frank and open”. The prime minister will have a working dinner with Germany's Angela Merkel on Wednesday before talks with France's Francois Hollande on Thursday.

• Tuesday, July 19th 2016 - 06:40 UTC

  Uruguay could compete for another pulp mill, if it develops logistics infrastructure

  

  Finland´s UPM pulp conglomerate which already has a plant in Uruguay announced it will commence discussions with the Uruguayan government on the development of logistics infrastructure for a possible mounting of another mill. Discussions will include railroad and roads, which currently are a critical challenge to establish large scale industrial operation in the Uruguayan inland and to connect it to a deep sea port.

• Tuesday, July 19th 2016 - 05:40 UTC

  CEO denies plan to privatize Petrobras: 'Brazilian society not mature enough to discuss the issue'

  

  The Brazilian government has no plans to privatize state-run oil company Petrobras and is still deciding whether to sell its controlling share in several units to shore up its finances, the company's Chief Executive Officer Pedro Parente said in an interview with a local newspaper published on Monday.