Economy

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.
Tuesday, December 15th 2015 - 08:32 UTC
Brazil's Central bank Focus weekly negative report

Analysts expect Brazil's economy to contract by 3.62% this year, with inflation hitting 10.61%, the Central Bank said Monday. GDP and inflation estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Tuesday, December 15th 2015 - 08:18 UTC
Macri slashes agriculture export duties; farmers promise 30% larger crop next year

Argentina's business friendly president Mauricio Macri, announced on Monday large tax cuts on agricultural exports and emphasizing that “the camp was essential to get Argentina back on its feet”. Macri, who took office Thursday, had promised to slash the steep taxes on agricultural exports, which triggered major protests by producers against former president Cristina Fernandez administration.
Tuesday, December 15th 2015 - 08:09 UTC
Falklands: UK company to help construct soldiers' accommodation blocks

A construction firm from Grimsby, Fast-Form Systems has won a £200,000 contract with the British Ministry of Defense to support the construction of soldiers' accommodation blocks in the Falkland Islands.
Tuesday, December 15th 2015 - 07:51 UTC
Latin American exports fall for third year running and 2016 prospects are not encouraging

Exports from Latin America and the Caribbean will drop about 14% in 2015 due to a steep decline in prices and weak demand for the region’s main exports from key trading partners, according to a new report from the Inter-American Development Bank (IDB).
Tuesday, December 15th 2015 - 07:41 UTC
Moody's raises Cuba's rating to positive as it moves away from Venezuela dependence and is closer to US

International ratings agency Moody’s Investors Service has moved Cuba’s economic from stable to positive, citing its lessening dependence on Venezuela and the possibility of more improved relations with the United States.
Monday, December 14th 2015 - 08:17 UTC
Brazil's harvest for 2016 estimated at 209.3 million tons, slight drop from 2015

Brazil's harvest in 2016 will reach 209.3 million tons, which is 0.5% less than in 2015 according to the estimates from the Brazilian stats institute, IBGE. The fall is related to less crops of oilseeds, cereals and legumes in the centre west of the vast country, which is also the main farming area, as well as in the north.
Monday, December 14th 2015 - 07:49 UTC
Moody's downgrades Petrobras credit rating; warns of difficulties to raise cash through asset sales

Moody's Investors Service has lowered Brazilian state-controlled oil company Petrobras' credit rating further into junk territory and warned of a possible further downgrade. “These rating actions reflect Petrobras' elevated refinancing risks in the face of deteriorating industry conditions that make it more difficult to raise cash through asset sales,” the New York-based ratings agency said Wednesday.