Economy

Saturday, December 12th 2015 - 07:11 UTC
Argentina's new administration package of economic measures next week

Argentine finance minister Alfonso Prat-Gay announced on Friday that next week levies on farm (grains and oilseeds) exports will be lowered, the half year bonus of wage earners if below 30.000 Argentine Pesos will be exempt from income tax, and the policy of “looked-after prices” at supermarkets will continue.
Saturday, December 12th 2015 - 07:03 UTC
US crude futures trade at $35, lowest since February 2009; in one week price dropped 10%

United States crude futures fell sharply on Friday plunging below $36 a barrel for the first time in more than seven years, after a bearish report from the International Energy Agency projected that global energy markets will remain vastly oversupplied for at least the immediate near future.
Saturday, December 12th 2015 - 06:56 UTC
Petrobras not selling any stake of its giant Libra offshore oil prospect

Petrobras, is not considering selling a 10% stake in its giant Libra offshore oil prospect at this time, Brazil's state-run oil company said on Friday. Petrobras was responding to a report on Tuesday that industry sources had been told by the company that the Libra stake was on offer.
Friday, December 11th 2015 - 12:04 UTC
Venezuelan subsidized oil sales to the Petrocaribe program on a tight rope

If the newly elected Venezuelan National Assembly votes to cancel that country's program of subsidized oil sales to Caribbean and Central American nations, the United States will not be able to substitute U.S. oil for Venezuelan oil, a senior U.S. official warned this week.
Friday, December 11th 2015 - 11:54 UTC
International banks commit 8bn dollars to the new Argentine administration

The incoming government of Argentine president Mauricio Macri is about to receive its first financial boost from overseas, which according La Nacion sources could be in the range of 8 billion dollars.
Thursday, December 10th 2015 - 08:22 UTC
Macri's candidate will head the Central bank from the first day; Vanoli resigns

Argentina Central Bank President Alejandro Vanoli resigned Wednesday under pressure from President-elect Mauricio Macri, who plans to remove currency controls with reserves standing at a nine-year low.
Thursday, December 10th 2015 - 08:18 UTC
Pollack confirms Macri´s administration intention of negotiating with hedge funds

The court-appointed mediator in a long-running debt dispute pitting Argentina against holdout hedge funds said Wednesday that President-elect Mauricio Macri's incoming administration intended to negotiate a settlement.
Wednesday, December 9th 2015 - 08:38 UTC
Oil prices plummet to seven-year lows on global supply glut

Oil prices slid on Tuesday, approaching seven-year low points on a global supply glut and weak demand growth. Crude futures had already slumped Monday after the OPEC oil producers cartel last week refused to slash record high output, in a market dogged by oversupply.
Tuesday, December 8th 2015 - 09:08 UTC
No break for the Brazilian economy, according to the central bank

Analysts expect Brazil's economy to contract by 3.50% this year, with inflation hitting 10.44%, the Central Bank said on 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.
Monday, December 7th 2015 - 08:44 UTC
Argentina talks to US Treasury Secretary; lifting dollar clamp depends on level of reserves

Argentina's incoming Finance minister Alfonso Prat-Gay spoke with the United States Treasury Secretary Jack Lew to discuss economic plans to achieve sustained economic growth. The minister also announced in a long interview with Buenos Aires main dailies that lifting the dollar 'clamp' as promised by president-elect Mauricio Macri, will much depend on the level of international reserves Argentina can count with.