Economy

Friday, June 10th 2016 - 08:02 UTC
St Helena's airport opening delayed indefinitely because of wind conditions

The opening of an airport on the British overseas territory of St Helena has been delayed indefinitely due to safety fears - amid warnings the cost to the UK government could increase. The £285m airport is being paid for by the Department for International Development and was due to open in May.
Thursday, June 9th 2016 - 09:27 UTC
Brazilians want fresh elections; 62% believe Rousseff's impeachment was the right decision

The government of Interim President Michel Temer has a low approval rating among Brazilians and a majority of the country wants new elections to be held this year, according to a poll released on Wednesday.
Thursday, June 9th 2016 - 09:16 UTC
Argentina's energy minister, the official with largest amount of funds abroad

Almost 100 million pesos (approx US$ 7.3 million) are held in offshore accounts by officials from the current Argentine administration economic Cabinet, a figure higher than the 18 million pesos President Mauricio Macri reported as having in a Bahamas account.
Thursday, June 9th 2016 - 09:06 UTC
Brazil's central bank leaves interest rate unchanged at 14.25%

Brazil held interest rates steady for the seventh straight time on Wednesday, resisting pressure to slash borrowing costs amid a recession as inflation remains near double digits. In a unanimous vote, the central bank's monetary policy committee, Copom, decided at its last meeting led by governor Alexandre Tombini to keep its benchmark Selic rate at 14.25%, the highest in nearly a decade.
Thursday, June 9th 2016 - 08:50 UTC
Yellen says Brexit 'repercussions' would be considered in Fed’s meeting next week

United Stated Federal Reserve chair Janet Yellen said a UK vote to leave the European Union could have “significant economic repercussions”. In a speech this week, she said a Brexit was one factor that the central bank would consider when deciding whether to raise interest rates. The Fed next meets on 14-15 June.
Wednesday, June 8th 2016 - 08:21 UTC
Euro skepticism spreads along the continent, shows Pew Research survey

The European Union has suffered a “double dip” collapse in favorability in many member states since 2010, with many citizens across Europe demanding it return powers to them, according to research. A report from the Pew Research Center published Tuesday found that the British, who will vote on their future in the bloc on June 23, are not the only country with doubts about the EU.
Tuesday, June 7th 2016 - 23:57 UTC
Rate hikes likely, but some reports remain 'disappointing', admits Fed chief Yellen

Reserve Chair Janet Yellen said on Monday that interest rate hikes are likely on the way because “positive economic forces have outweighed the negative” for the United States now that risks from earlier this year have diminished.
Monday, June 6th 2016 - 11:01 UTC
Support for Macri remains strong despite tough economic measures

A majority of Argentines continue to support president Mauricio Macri despite a raft of unpopular measures, public utilities rate increases, inflation, redundancies and slower activity, which his administration has been forced to implement in the first six months of his mandate in an attempt to reorganize the country's economy.
Monday, June 6th 2016 - 10:51 UTC
Brazil's Lower House approves salary raises for military and civil servants

The lower house of Brazil's Congress approved last week salary raises for military and civil servants that will cost about 4 billion reais (US$1.12 billion) this year, the lower house said through its official news agency.
Monday, June 6th 2016 - 10:46 UTC
Petrobras will have full independence to set domestic fuel prices

Brazil's energy ministry said on Saturday it backed full independence for Petrobras to set domestic fuel prices, blaming past controls for saddling the state-controlled oil company with crippling debt that is the oil industry's largest.