Economy

• Friday, December 18th 2015 - 07:44 UTC

  A good one for Brazil: trade surplus has reached US$15.8bn

  

  Brazil accumulated a trade surplus of US$15.8 billion between January and the second week of December, its biggest for that period since posting a US$17.15 billion trade surplus for the first 11 months of 2012, according to Development, Industry and Foreign Trade Ministry figures.

• Thursday, December 17th 2015 - 07:56 UTC

  Fitch downgrades Brazilian bonds to junk; investors could dispose of 20bn in debt

  

  Fitch Ratings downgraded Brazil government bonds to junk on Wednesday, citing rising concerns about an economic and political crisis that threatens to push President Dilma Rousseff from office and scuttle efforts to close a gaping fiscal deficit.

• Thursday, December 17th 2015 - 07:46 UTC

  Major WTO deal cuts tariffs on information technology products

  

  More than 50 members of the World Trade Organization signed an agreement on Wednesday to remove import tariffs on 201 information technology products, marking the first major global tariff-cutting deal in 19 years.

• Thursday, December 17th 2015 - 07:33 UTC

  Congress/Obama deal includes voting for the long stalled IMF quota reforms

  

  The United States Congress has taken a step closer to granting long-awaited approval to reforms of the International Monetary Fund that would give China and other emerging economies a greater voice in shaping the institution's policies.

• Thursday, December 17th 2015 - 06:50 UTC

  Argentina lifts foreign currency controls and let's Peso float, as of Thursday

  

  Argentina announced on Wednesday it was lifting currency controls and would allow the peso to float when markets open on Thursday, setting the stage for a devaluation, following pledges by new president Mauricio Macri for reforms to spur economic growth.

• Thursday, December 17th 2015 - 03:40 UTC

  Fed hikes rate to 0.25% in unanimous decision; positive reaction from markets

  

  The United States Federal Reserve on Wednesday delivered its first interest rate hike since 2006, with the decision a unanimous one. The central bank raised its key federal funds rate to 0.25%, up from at or near zero percent for the last seven years.

• Wednesday, December 16th 2015 - 08:49 UTC

  Argentina outlines oil and gas wellhead price policy

  

  Argentina's new government will maintain wellhead crude prices above international levels for now, although the differential will narrow as artificially low wellhead prices for natural gas are gradually adjusted upwards, energy minister Juan Jose Aranguren announced on Tuesday.

• Wednesday, December 16th 2015 - 08:10 UTC

  Argentina on track to end import restrictions by end of the year

  

  President Mauricio Macri's administration announced the end of restrictions on imports into Argentina, with the current controls of 'sworn statements' or DJAI, replaced by a system of automatic and semi-automatic licences.

• Wednesday, December 16th 2015 - 07:26 UTC

  Expect a much smaller and more profitable Petrobras, in four years, says CEO Bendini

  

  Petrobras, Brazil's largest corporation, carried out asset sales and underwent a restructuring this year in response to a severe financial crisis, emerging smaller but with a more profitable and productive future ahead, CEO Aldemir Bendini said Tuesday.

• Tuesday, December 15th 2015 - 08:36 UTC

  Brazil in recession, but farming is booming with the 29% fall of the Real

  

  Financial and political turmoil that have Brazil on the brink of a depression is also contributing to one of the best years ever for domestic farmers. Economic stress and a weak currency has facilitated export revenue for everything from soybeans to beef to coffee.