Economy

Wednesday, December 23rd 2015 - 10:07 UTC
Brazil's Barbosa insists fiscal policies to shrink budget deficit “will be maintained”

Brazil’s new finance minister, Nelson Barbosa, continued his effort to win over investors on Tuesday reiterating that the government of president Dilma Rousseff will maintain the same fiscal policies intended to shrink the budget deficit and cut debt that were favored by his predecessor.
Wednesday, December 23rd 2015 - 09:17 UTC
Macri's priorities: Mercosur, trade agreement with EU and the Pacific Alliance

Argentine president Mauricio Macri pledged full support for Mercosur which he defined as a 'long term strategic project', called for a quick trade agreement with the European Union and closer ties with 'our partners from the Pacific Alliance'.
Wednesday, December 23rd 2015 - 08:46 UTC
Despite falling oil prices, Brazil is developing the equatorial Barreirinhas basin

Inchcape Shipping Services (ISS), the world's leading maritime and logistics service provider, has signed a contract with CGG to provide offshore agency support services for a new oil and gas exploration project in the Barreirinhas Basin in the equatorial margin of northern Brazil.
Tuesday, December 22nd 2015 - 15:29 UTC
Chile calls for a South American convergence; pledges to bring together Mercosur and Pacific Alliance

Chilean president Michelle Bachelet called for “a convergence among governments” of South America despite the “political and ideological differences”, and anticipated that Chile will strongly promote the rapprochement between Mercosur and the Pacific Alliance.
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.