Economy

• Tuesday, May 3rd 2016 - 12:02 UTC

  Euro zone economy expands faster than expected in the first quarter

  

  The Euro-zone's economy grew by a faster-than-expected 0.6% in the first three months of the year, according to official statistics. The growth rate in the 19-nation bloc doubled from the 0.3% rate recorded in the previous quarter, and was above analysts' expectations of 0.4%.

• Tuesday, May 3rd 2016 - 08:57 UTC

  Falklands' Illex squid catches very sparse; Loligo, 'a bit more cheerful'

  

  Falkland Islands' Illex squid catches are still very sparse, now standing at 2,373 tons, “which is obviously very low and does not go far when spread across the 105 vessels in the fishery,” said Director of Natural Resources John Barton, interviewed by Penguin News.

• Tuesday, May 3rd 2016 - 06:00 UTC

  Venezuela's explosive situation makes Pope Francis send a “personal letter” to Maduro

  

  Pope Francis has sent a “personal letter” to Venezuelan President Nicolás Maduro in which he addresses his concern over the “seriousness” of “the county’s situation”, revealed papal spokesman Federico Lombardi confirmed to journalists this weekend.

• Monday, May 2nd 2016 - 20:11 UTC

  St Helena postpones official opening of the new airport

  

  The St. Helena Government confirms that further safety and operational work is required prior to the Official Opening of the Island’s new Airport – and that this event has therefore been postponed. While this means that the Airport will not officially open on 21 May 2016 as originally planned, the safety of aircraft and passengers is of course paramount.(MP, 15 and 19 April).

• Monday, May 2nd 2016 - 08:51 UTC

  With a subsidy production scheme, Argentina is back exporting oil, mainly to China

  

  Argentine oil producers are shipping record volumes of crude this month, spurred by a new government subsidy that has also prompted state-owned oil company YPF to return to the export market for the first time in years.

• Monday, May 2nd 2016 - 08:33 UTC

  Temer promises to combat corruption by strengthening anti-graft institutions

  

  A government led by Brazilian Vice President Michel Temer would press ahead with the country's corruption fight by strengthening anti-graft institutions and enacting tougher controls over state-run companies, and will also implement an education reform, according to a six chapter document leaked to the Sao Paulo media.

• Monday, May 2nd 2016 - 08:18 UTC

  Macri claims Argentina hid unemployment with 'worthless public jobs', at Labor Day event with dissident union

  

  Argentine president Mauricio Macri attended an event at a dissident union headquarters in the City of Buenos Aires where he marked the Labour Day with unionized workers of the food sector, and blasted the previous administration for hiding unemployment with public jobs.

• Monday, May 2nd 2016 - 08:13 UTC

  Argentines worried about inflation and unemployment; fuels increase 10% in May

  

  A clear majority of Argentines are most worried about inflation and unemployment, a report by the D’Alessio IROL and Berenzstein private consulting agencies have showed.

• Monday, May 2nd 2016 - 08:07 UTC

  Chile's economy slows down and unemployment climbs higher that forecasted

  

  Chile's jobless rate rose more than expected in the first quarter as two years of sluggish growth finally caught up with the labor market, signaling stronger headwinds for South America's wealthiest economy.

• Monday, May 2nd 2016 - 07:54 UTC

  Argentine needs US$ 37bn to address the budget deficit and foreign debt payments

  

  Argentina will issue a fresh round of dollar-denominated debt notes worth an estimated US$8 billion in the next few days, top officials from the Finance Ministry confirmed. The government will “very soon” issue a new Treasury note to capture dollars that are being stored “under the mattress” in a process that will kick off with a meeting with bankers, Finance Secretary Luis Caputo said.The Argentine government hopes to bring in US$5 billion through the issuance.