Economy

• Tuesday, December 22nd 2015 - 14:49 UTC

  Brazil's new minister promises the same Levy targets, but fails to convince investors

  

  Brazil's new finance minister sought to reassure investors on Monday as he took the reins of the recession-hit economy, but the Sao Paulo stock market and the Brazilian real both fell. In his first full business day on the job, Finance Minister Nelson Barbosa held a teleconference with international investors, promising to practice the same fiscal discipline as his predecessor, Joaquim Levy.

• Tuesday, December 22nd 2015 - 14:31 UTC

  Brazil welcomes and supports Macri's policies regarding the dollar and trade

  

  The Brazilian government has welcomed Argentina's realistic foreign exchange policy unifying the Argentine peso exchange rate, saying the latest economic measures taken by the Mauricio Macri administration will be “very positive” for the commercial relationship between the two countries.

• Monday, December 21st 2015 - 07:37 UTC

  Groundbreaking WTO agreement on elimination of agriculture export subsidies

  

  World Trade Organization, or WTO, reached a groundbreaking accord in Kenya on Saturday which obliges developed countries to eliminate subsidies for their agricultural exports as requested by the least developed nations to protect their farmers.

• Monday, December 21st 2015 - 07:00 UTC

  Mercosur summit agenda includes trade, energy, human rights; Venezuela's Maduro absent

  

  Paraguay foreign minister Eladio Loizaga advanced some of the issues that will addressed on Monday's Mercosur presidential summit, when all of the members of the group's heads of state have confirmed their attendance, except Venezuela's Nicolas Maduro, plus leaders from associate members.

• Monday, December 21st 2015 - 06:50 UTC

  Mercosur identifies 80 intra-trade non tariff barriers and discuss their elimination

  

  Mercosur members have identified over eighty non tariff barriers currently effective in intra-trade and have agreed on their gradual elimination, a proposal to be considered by the group's presidential summit when they meet Monday in Asuncion, Paraguay.

• Saturday, December 19th 2015 - 06:39 UTC

  Rousseff picks Barbosa as finance minister, a strong critic of Levy and austerity

  

  Brazilian President Dilma Rousseff on Friday picked her close aide Nelson Barbosa, a left-leaning economist, to take over the finance ministry from Joaquim Levy who is leaving after a series of disagreements over economic policy.

• Saturday, December 19th 2015 - 06:18 UTC

  Argentina's foreign exchange market slowly adapting to new rules with no major surprises

  

  The US dollar in Argentina's foreign exchange market plunged on Friday 35 cents to 13.60 Pesos on the second day since President Mauricio Macri's administration decided to put an end to official restrictions for the purchase of greenbacks and other dealings with foreign currency.

• Saturday, December 19th 2015 - 05:37 UTC

  WTO statement in support of reducing fishing subsidies

  

  World Trade Organization members, including Argentina and Uruguay, have agreed on the need to reduce fishing subsidies so as to contribute to the conservation of fishing resources worldwide. This decision was taken because WTO is convinced that fisheries subsidies contribute to economic losses in the fisheries sector, leaving serious impact on food security and livelihoods, particularly in developing countries, Star Business Report reported.

• Saturday, December 19th 2015 - 04:41 UTC

  China's demand for infant milk makes NZ company shares surge 140% in one year

  

  Shares in New Zealand dairy firm - The a2 Milk Company (A2) - were up more than 30% in Sydney on Friday after the firm raised its full-year earnings forecast on demand for its infant formula in China and Australia. It is the second time since November the company has raised its guidance.A2 said group revenue could reach US$ 212 million for the period, up from US$180.

• Saturday, December 19th 2015 - 04:11 UTC

  United States lifts 40-year ban on exports of crude oil

  

  The United States has approved a measure to lift the 40-year ban on crude oil exports. The move is part of a US$1.1 trillion spending bill approved by the Senate on Friday that will fund the US government until 2016.