Economy

Thursday, October 22nd 2015 - 07:09 UTC
Brazil leaves Selic rate unchanged at 14.25%; inflation the target but with no timetable

Brazil's central bank kept interest rates on hold on Wednesday, for a second straight month despite a jump in inflation expectations. The decision not to raise rates will give a breather to President Dilma Rousseff, who is fighting for her political survival amid the country's worst economic and political crisis in 25 years.
Thursday, October 22nd 2015 - 06:51 UTC
Venezuela's proposal to cut oil production and up prices receives little echo

Russia and Mexico – non-OPEC countries, which have been invited to participate Venezuela-proposed meeting this week – have no intention to cut oil production, International Oil Daily reported.
Wednesday, October 21st 2015 - 07:01 UTC
Batakis 'the Greek' and York graduate, Argentina's next Economy minister if Scioli wins

An environment economist graduated in York University could be Argentina's next Economy minister, if the incumbent candidate Daniel Scioli is finally elected next Sunday, or in a runoff a month later. Silvina Batakis, 'the Greek' is currently governor Scioli's economy minister in the province of Buenos Aires and was confirmed for that post this week.
Wednesday, October 21st 2015 - 06:35 UTC
Venezuela presents 2016 budget based on a US$40 per barrel estimate

Venezuela's proposed 2016 government budget is based on an estimate of $40 per barrel for the OPEC nation's oil exports, Finance Minister Rodolfo Marco said in a presentation to congress on Tuesday.
Tuesday, October 20th 2015 - 06:05 UTC
Dollar reaches new record in Argentina, as Sunday's Election Day approaches

The US dollar in Argentina ended trading on Monday at 9.51 Pesos in banks and foreign exchange agencies while the parallel exchange rate or 'blue' continued to grow and ended 17 cents higher at 16.11 Pesos in underground houses, hitting a new record high.
Monday, October 19th 2015 - 09:47 UTC
China's growth below target; monetary policy stimuli expected

China's economy grew 6.9% in the third quarter, the weakest rate since the global financial crisis. The growth rate is below the government's 7% target. Though slightly above expectations, the data is expected to raise pressure on policymakers to step up monetary policy to stem the slowdown.
Monday, October 19th 2015 - 07:11 UTC
Economic activity in Brazil plunges 4.47% in the last twelve months to August

Economic activity in Brazil fell for a third straight month in August, Central Bank data showed, adding to evidence of a steeper-than-expected recession in the country. The figures were unveiled on the same day the government dismissed rumors over the resignation of Finance Minister Joaquim Levy.
Saturday, October 17th 2015 - 06:54 UTC
Falklands' southeast exploratory well has found 'oil and gas shows', says FOGL

Exploring group Falkland Oil and Gas Ltd. said on Friday the Humpback 53/02-01 exploration well to the southeast of the Falkland Islands has found oil and gas shows, while wire-line logging indicates there are hydrocarbons bearing sandstones within the main target area.
Saturday, October 17th 2015 - 06:24 UTC
Brazil's Finance Levy minister “has not resigned and will stay in his post”

Finance Minister Joaquim Levy has not resigned and will stay in his post, Brazil's government said on Friday, denying a media report that he planned to step down in a dispute over austerity measures. A finance ministry spokeswoman told reporters that Levy “continues to work and is committed to improve the country's future.”
Friday, October 16th 2015 - 12:00 UTC
Communist-ruled China has more billionaires that United States

The number of billionaires in China has overtaken that of the United States for the first time, an annual survey said on Thursday, calling it a “turning point” for the super-wealthy. Communist-ruled China now has 596 billionaires, up a “staggering” 242 over the last year, Shanghai-based luxury magazine publisher Hurun Report said, surpassing the 537 Americans.