Economy

• Monday, October 17th 2016 - 09:47 UTC

  BRICS summit, despite drawbacks ends optimistic and vows to deepen economic engagement

  

  Amid fears of threats posed by protectionism, the BRICS countries have vowed to deepen economic engagement, tackle the global economic slowdown, and combat cross border terrorism. The leaders of the five emerging economies of Brazil, Russia, India, China and South Africa wrapped up a summit Sunday in Goa, in western India.

• Monday, October 17th 2016 - 06:53 UTC

  Mercosur founding members share same economic model and are targeting trade accords, says ECLAC

  

  Tensions inside Mercosur can be attributed to the fact that Argentina, Brazil, Paraguay and Uruguay share a development “economic model” which distances them from Venezuela, and are prepared to advance in trade negotiations with the European Union, and even with the Pacific Alliance. Venezuela on the other hand has as its main priority putting the deteriorated economy back on the growth track, according to the UN regional economic commission ECLAC, chair Alicia Barcena.

• Friday, October 14th 2016 - 17:31 UTC

  Falklands Tourist Board contracts world-class digital platform

  

  New Mind | tellUs has been selected by the Falkland Islands Tourist Board to supply a world-class digital platform which will contribute to the development of a well established and thriving tourism destination.

• Friday, October 14th 2016 - 09:37 UTC

  Falkland Island farmers tour Australia for improved sheep genetics

  

  Three Falkland Islands farmers and the general manager of Falklands Landholdings Corporation recently travelled to Australia as part of the ongoing search for improvements to lamb survival rates in the Falklands. Touring farms in both Queensland and New South Wales, the group spent three weeks inspecting Australian studs in search of better fat and muscle values in young rams.

• Friday, October 14th 2016 - 09:17 UTC

  EU-Mercosur trade deal within two years, followed by negotiations with UK

  

  The European Union and Mercosur could strike a free trade deal within two years, according to Argentina’s Commerce Secretary Miguel Braun. After Brexit, Mercosur would be open to a separate trade deal with the UK. Trade negotiations between the EU and Mercosur nations are still on track, despite the UK’s decision to leave the bloc and uncertainty over the future of the EU’s other major trade agreements – TTIP and CETA.

• Friday, October 14th 2016 - 05:48 UTC

  Falklands considers air link with Brazil including a monthly stopover in Argentina

  

  “Is a monthly stopover in Argentina too high a price to pay for a direct weekly flight to Sao Paulo, the biggest flight hub in South America,” is the question we all have to ask ourselves, said lawmaker MLA Mike Summers this week as he set out the situation and options available to progress and develop the Falkland Islands’ economy.

• Thursday, October 13th 2016 - 21:11 UTC

  Travelers shocked at UK airports: £=€ 99 cents; Lord King says “weak pound is positive”

  

  Many travelers buying foreign currency at the UK's airports are now receiving less than one Euro to the pound, reports the BBC. The continued fall in sterling's value means that the average rate available at 17 airport bureaux de change is now just 99 euro cents to the pound. The worst rate is currently 88 Euro cents at Moneycorp at Southampton airport and the best is €1.06 from the Change Group at Glasgow Prestwick.

• Thursday, October 13th 2016 - 14:52 UTC

  Latin America and Caribbean will suffer 0.9% contraction this year but growth will reach 1.5% in 2017

  

  The Economic Commission for Latin America and the Caribbean (ECLAC) has revised its economic growth projections for the region and now expects a 0.9% average contraction for Latin America and the Caribbean this year. Economic activity is expected to pick up in 2017 with average growth of 1.5%, according to a press release by the United Nations agency.

• Thursday, October 13th 2016 - 14:47 UTC

  Wells Fargo bank accounts' scandal leads to a major reshuffle

  

  Wells Fargo & Co's veteran chairman and chief executive officer, John Stumpf, abruptly departed on Wednesday bowing to pressure over its sales tactics that has damaged the bank's reputation and put Wall Street under renewed scrutiny. San Francisco-based Wells Fargo said Stumpf, 63, was retiring and would be replaced as chief executive by President and Chief Operating Officer Tim Sloan, 56.

• Thursday, October 13th 2016 - 10:13 UTC

  Petrobras no longer an arm of government to control inflation, pledges CEO

  

  Petrobras is reading to announce a domestic fuel policy that will avert costly subsidies that drained profits during Brazil’s previous government, Chief Executive Officer Pedro Parente said in an interview. For years fuel prices were manipulated as part of the government's policy to keep inflation under control.