Economy

• Saturday, February 13th 2016 - 05:32 UTC

  Pollack confirms 'eventful week' of negotiations between Argentina and holdouts

  

  In the midst of ongoing negotiations in the United States courts between the administration of President Mauricio Macri and holdouts to reach an agreement, special master Daniel A. Pollack on Friday issued a statement reiterating “two major holdouts reached agreements in principle with Argentina to settle their claims.

• Friday, February 12th 2016 - 18:47 UTC

  Falklands' (oil exploration) “has been a hugely successful campaign”, says Rockhopper

  

  Rockhopper Exploration which has a joint venture agreement with Premier Oil offshore the Falkland Islands, described the oil exploration campaign now terminated as a 'huge success' and underlines the postponement of the Chatham well drilling will have no impact on the Field Development Plan for the Sea Lion oil discovery development.

• Friday, February 12th 2016 - 18:14 UTC

  Falklands' exploratory campaign ended, following termination of ocean rig contract

  

  The Falkland Islands government and Premier Oil have announced on Friday the ocean rig 'Eirik Raude' contract termination, which in practical terms puts an end to the current exploratory campaign and the scheduled drilling of the Chatham well. Nevertheless both sides underlined the success of the now terminated campaign with the oil discoveries at the Zebedee and Isobel Deep prospects in the North Falkland basin and look forward to continue working in the near future.

• Friday, February 12th 2016 - 06:55 UTC

  Lagarde, as sole candidate, has virtually assured five more years as IMF head

  

  The International Monetary Fund (IMF) has nominated current managing director Christine Lagarde for the second term, IMF Executive Board Dean Aleksei Mozhin said in a statement on Thursday.

• Friday, February 12th 2016 - 06:33 UTC

  France claims the EC has done ”too little too late to help (struggling) farmers”

  

  France called on the European Commission to do more to help its struggling livestock industry, seeking to defuse protests that have seen farmers block highways and supermarkets.

• Friday, February 12th 2016 - 06:21 UTC

  Brazil's economic outlook worsens, according to latest central bank survey

  

  Analysts expect Brazil's economy to contract by 3.21% this year, with the outlook worsening from last week, the Central Bank said this week. Seven days ago analysts said they expected Brazil's economy to contract by 3.01% in 2016.

• Friday, February 12th 2016 - 06:15 UTC

  Falklands' oil industry development continues despite slump in crude prices

  

  Rockhopper Exploration flagship project, offshore the Falkland Islands the Sea Lion oil field development, continues to advance despite the recent slump in crude prices.

• Thursday, February 11th 2016 - 05:57 UTC

  Fed warns about uncertainty in China and tightening financial markets

  

  Tightening financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the US economy off track from an otherwise solid course, Federal Reserve Chair Janet Yellen cautioned in a prepared testimony to Congress on Wednesday.

• Thursday, February 11th 2016 - 05:40 UTC

  Brazil reopens crucial waterway for transporting soy; water was used to generate power

  

  Brazil's Tiete-Parana waterway, a key transport corridor for soybeans, corn, cellulose, fertilizer and other agricultural products, has reopened after a 20-month closure due to drought and the use of water for electricity, the Estado de S. Paulo newspaper reported this week.

• Thursday, February 11th 2016 - 05:22 UTC

  Magallanes enjoying an unexpected excellent cruise season

  

  Chile anticipates a 30% increase in cruise activity in the extreme south of the country, mainly Punta Arenas and Puerto Natales, announced Lorena Araya, head of Magallanes region National Tourism Service, Sernatur.