Economy

Monday, May 9th 2016 - 11:29 UTC
Fitch downgrades Brazil's sovereign debt into junk territory, as political crisis deepens

Fitch Ratings downgraded Brazil's sovereign debt further into junk territory on Thursday, citing a deeper-than-expected economic contraction and changing fiscal targets that have undermined credibility. The agency downgraded Brazil to BB from BB+ with a negative outlook a week before a Senate vote that is expected to lead to the suspension of unpopular leftist President Dilma Rousseff.
Monday, May 9th 2016 - 09:17 UTC
S&P raises Argentina's credit rating, but warns about the 40% inflation

Argentina’s credit rating was raised to B- from selective default by S&P Global Ratings, which cited the country’s payment last Thursday of $2.7 billion of past-due interest on bonds in default since July 2014.
Monday, May 9th 2016 - 09:04 UTC
Brazilian prosecutors after another can of worms: the huge development bank

A former Brazilian finance minister and the current head of the nation's state economic and social development bank allegedly pressured big construction firms into making campaign donations for President Dilma Rousseff, a newspaper reported on Sunday. If it proves correct it would be the first concrete lead linking the Petrobras corruption with BNDES, long suspected by Brazilian prosecution.
Monday, May 9th 2016 - 07:33 UTC
Massive protest in Comodoro Rivadavia against the oil industry weak activity

More than 50,000 workers blocked the centre of Comodoro Rivadavia, in Argentina's Patagonia main oil-producing region in a protest against layoffs. Striking oil workers were joined by teachers, truck drivers, builders and other sectors in the demonstration.
Monday, May 9th 2016 - 07:14 UTC
Jobs, layoffs and severance payment at the heart of Argentina's public debate

Unemployment and jobs are in the heart of public debate in Argentina. A public opinion poll released last week revealed that 48.3% of Argentines fear he/she or a relative might lose their jobs in the next six months.
Saturday, May 7th 2016 - 08:29 UTC
Falklands' MPA infrastructure to be upgraded with a £55.7 million contract

A £55.7 million contract to upgrade infrastructure at MPA, in the Falkland Islands was signed this week between Southampton based Trant Engineering Ltd and the UK Defense Infrastructure Organization (DIO).
Saturday, May 7th 2016 - 06:20 UTC
Lord Price said UK and Argentina at the start of a new era of bilateral relations

British Trade and Investment Minister, Lord Price said that Argentina and the UK are at the beginning of a new era in bilateral relations and in an excellent position to turn common interests into concrete business interests. Lord Price together with a mission of UK top business leaders ended on Friday a two-day visit to Argentina, the first in ten years.
Friday, May 6th 2016 - 23:57 UTC
Falklands have built and occupied over 126 houses from 2012 to 2015

More than 126 houses have been built and occupied in Stanley, capital of the Falkland Islands during the last four years with an increase from 10 in 2012 to 51 in 2015 with a third of the total builds being by Government.
Friday, May 6th 2016 - 08:32 UTC
Four million Argentine children live in poverty conditions, according to Unicef

Almost four million children in Argentina are poor and 8.5% live in extreme poverty, according to a report from UNICEF which measures multidimensional poverty which considers 28 indicators such as nutrition, access to healthcare, exposure to violence, among other more traditional references.
Friday, May 6th 2016 - 07:54 UTC
British ambassador celebrates 'the renewed and revitalized' UK/Argentina bilateral relationship

On 28 April, the British Ambassador’s Residence in Buenos Aires welcomed more than 400 people to celebrate the 90th birthday of Queen Elizabeth II. The last time that Buenos Aires held a celebration like this was in 2009 and it was an opportunity to praise the resumption of bilateral ties.