Economy

• Friday, September 30th 2016 - 15:00 UTC

  Where will oil prices go after Algiers?

  

  Saudi Arabia and Iran may yet come to terms on some sort of production arrangement, but the outcome of the negotiations in Algeria this week may not do much to rescue oil prices. Following the media spectacle, the oil markets may have to shift their attention back to the supply and demand fundamentals, which are not reassuring

• Friday, September 30th 2016 - 08:47 UTC

  Ushuaia encouraged by a cruise season that includes 245 Antarctica calls

  

  Ushuaia remains as Antarctic gate king this 2016/2017 cruise season with 245 out of its 305 calls (45 vessels) heading for the extreme south ice covered continent, according to the data published by the Tierra del Fuego Tourism Institute Infuetur. The season took off in early September with the arrival of Chilean flagged Stella Australis, and its 210 passengers heading for Cape Horn

• Friday, September 30th 2016 - 08:34 UTC

  Punta Arenas cruise season anticipated to be weaker than in 2015/2016

  

  The 2016//17 cruise season for the Magallanes region in the extreme south of Chile will see a drop in the number of calls, from 121 to 86, of which 83 in Punta Arenas and 3 in Puerto Natales, according to the schedule published by Punta Arenas port authority, Austral Port Company, EPA, website.

• Friday, September 30th 2016 - 07:54 UTC

  Falklands would claim 9% oil royalty per barrel plus 26% profit corporation tax

  

  The Falkland Islands government would claim 9% royalty on one barrel of oil, plus 26% corporation tax on profit, confirmed Member of Legislative Assembly Roger Edwards this week.

• Thursday, September 29th 2016 - 11:23 UTC

  Brazil central bank sees annual inflation targets within arm's reach

  

  Brazil's central bank expects annual inflation to ease below the government's 4.5% target in 2017 after years of hovering well above that goal, leaving the door open for cutting some of the world's highest interest rates as early as October. The bank also held its estimate for an economic contraction of 3.1% in 2016, but it expects the economy to grow 1.3% in 2017.

• Thursday, September 29th 2016 - 10:35 UTC

  One in three Argentines, 8.8 million live in poverty and 1.7 million are indigent

  

  Nearly one-third of Argentina’s population lives in poverty, the government said on Wednesday in the first official poverty data published in three years, underscoring the difficulty of reaching President Mauricio Macri’s stated “zero poverty” goal. The ranks of the poor surveyed in Argentina totaled 8.8 million people, or 32.2% of the population in 31 urban areas surveyed.

• Wednesday, September 28th 2016 - 12:26 UTC

  Iran-Saudi Arabia can't agree on limiting oil supply: “maybe in November”

  

  Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude.

• Wednesday, September 28th 2016 - 10:04 UTC

  Global trade set to grow at its slowest pace since 2009 financial crisis warns WTO

  

  The World Trade Organization Tuesday lowered its global trade forecast, warning that anti-globalization rhetoric and Brexit were pushing trade growth to its slowest pace since the financial crisis. The warning comes as talks on a landmark free trade deal between the European Union and the United States faces stiff opposition and Britain’s EU exit causes jitters.

• Wednesday, September 28th 2016 - 08:10 UTC

  Argentina lost 12% of national flock to severe drought in north Patagonia

  

  North Patagonia in Argentina is suffering the worst drought is 17 years which has meant the loss of 1.8 million sheep, since 2007, and so far this year rainfall has been 45% below the historic average.

• Wednesday, September 28th 2016 - 07:46 UTC

  Foreign tourists in Argentina will be refunded VAT on hotel services

  

  Argentine president Mauricio Macri signed an executive order on Tuesday under which foreign tourists will receive a refund of the value-added tax, or VAT, paid on hotel services in an effort to attract more visitors to Argentina and boost tourist businesses.