Economy

• Thursday, August 11th 2016 - 06:28 UTC

  Bachelet forced to introduce reforms to Chile's private pension system

  

  Under pressure from the public, Chile’s President Michelle Bachelet proposed changes to the most radical of all the economic reforms of former dictator Augusto Pinochet — the private pension system that inspired a wave of similar projects worldwide.

• Thursday, August 11th 2016 - 06:14 UTC

  Pacific Alliance members invite Uruguay to sign free trade agreements

  

  Uruguay, a founding member of Mercosur has been invited by Pacific Alliance members Colombia and Peru to update and expand commercial agreements with the two countries and turn them into a free trade treaty, foreign minister Rodolfo Nin Novoa revealed during a hearing in Congress to analyze the current situation in Mercosur.

• Wednesday, August 10th 2016 - 05:42 UTC

  Stress tests expose weakness of EU banks, particularly Deutsche Bank

  

  Germany's Deutsche Bank had the highest potential capital shortfall, 19 billion Euros in a study of 51 European banks using U.S. Federal Reserve stress test methods, German economic research institute ZEW said.

• Wednesday, August 10th 2016 - 05:33 UTC

  Punta Arenas airport plans to double passengers' terminal area and commercial aircraft capacity

  

  Punta Arenas airport is planning to double the area of the passengers' terminal and increase the number of jet bridges from three to five, as part of a major expansion program given the increase in annual commercial traffic at the President Carlos Ibañez del Campo Airport, which has been double the Chilean average.

• Wednesday, August 10th 2016 - 03:54 UTC

  Falklands 2014 and 2015 business climate surveys “very good”, but 2016 prospects aren't so rosy

  

  The Falklands Business Climate Survey strongly suggests that 2014 and 2015 were two very good years for the Islands economy and its business community, which translated in profits and higher levels of turnover, particularly 2015. However survey respondents predictions for this year and onwards aren't as rosy with many businesses anticipating lower turnover and investments, but not necessarily profits, while the overall average rating for the Islands' economy weighed between “average” and “good”.

• Wednesday, August 10th 2016 - 03:49 UTC

  UK with a Great Pavilion will be present at Uruguay's main agriculture show

  

  With just a month to go until Uruguay's main agro show, Expo Prado, the British Embassy in Montevideo announces that for the third consecutive year it will be present with a Great Pavilion focused on business, education, culture, tourism, gastronomy and entertainment. British brands such as JCB Machinery, Polo Club clothing, FCR-DAS who specialise in quality management certification, fire extinguishers from Noblex, Brompton and other bicycles courtesy of Muvin will all be taking part.

• Tuesday, August 9th 2016 - 08:51 UTC

  China's foreign trade further declines in July: imports down by 12.5%

  

  Chinese exports have seen a further decline in July, adding to concerns over the global economic outlook. Exports fell by 4.4% compared to a year earlier, which was a slight improvement over June's 4.8% drop but still worse than analysts had been expecting. And imports were also weaker than estimated, down by 12.5%.

• Monday, August 8th 2016 - 11:00 UTC

  Argentines continue to support Macri despite disappointment with the economy

  

  Most Argentines are pessimistic about the country’s economic situation, but they are continuing to stand by Let’s Change (Cambiemos) leader President Mauricio Macri, a new poll by the San Andrés University (UdeSA) has found.

• Monday, August 8th 2016 - 10:49 UTC

  US economy adds 255.000 jobs in July: unemployment remains at 4.9%

  

  The US economy added a stronger-than-expected 255,000 jobs in July, fuelling speculation that interest rates could rise before the end of the year. The figure was below June's upwardly revised figure of 292,000 jobs, but was far higher than analysts' forecasts of between 175,000 and 180,000. However US unemployment rate remained unchanged at 4.9%.

• Friday, August 5th 2016 - 20:54 UTC

  Cuba admits Venezuelan recession is hitting hard: Chavist oil shipments down 20%

  

  Venezuela’s grim situation is impacting not only millions of households around the country: it is also sending panic waves across the Caribbean all the way to Cuba, a solid ally that for decades now has relied heavily on Chavismo’s generosity.