Economy

• Wednesday, November 4th 2015 - 06:24 UTC

  Cristina Fernández reinstates benefits for exports shipped from Patagonia ports

  

  The outgoing government of president Cristina Fernandez reinstated benefits for all exports that are handled through Patagonian ports. Decree 2229/15 published in the Federal Gazette establishes the extent and percentage of benefits, for the next five years, as long as they are shipped from ports and customs to the south of the Colorado River.

• Tuesday, November 3rd 2015 - 18:16 UTC

  US manufacturing slows down in October but construction booming: up 17.2%

  

  US manufacturing grew at its slowest pace in two years in October, according to data released by Institute for Supply Management (ISM). This is the fourth consecutive month of declines in factory activity, with growth at its slowest pace since May 2013.

• Tuesday, November 3rd 2015 - 12:38 UTC

  Chinese manufacturing contracts for third month running

  

  Chinese manufacturing has contracted for the third month in a row, according to the government's latest factory survey. The Purchasing Managers' Index (PMI) showed a reading of 49.8 for October, unchanged from last month. A figure below 50 indicates that factory activity contracted.

• Tuesday, November 3rd 2015 - 10:03 UTC

  HSBC profits up following massive cut of jobs and sale of assets

  

  Lower costs from regulatory fines have contributed to higher profits for HSBC. Pre-tax profit at Europe's biggest lender jumped 32% from a year ago in the third quarter, beating analysts' expectations. Profit reached $6.1bn, up from $4.6bn in the same period a year earlier and above forecasts of $5.2bn.

• Tuesday, November 3rd 2015 - 09:58 UTC

  Brazil oil workers stage national strike and stopped operations at 22 rigs

  

  Oil workers staging a national strike in Brazil said on Monday they had stopped all operations at 22 of state-controlled oil giant Petrobras's 44 rigs in the Campos basin, an offshore area that accounts for about 80% of the country's oil output. Oil workers declared a strike on Sunday.

• Monday, November 2nd 2015 - 09:30 UTC

  Petrobras largest union on strike protesting sale of company's assets

  

  Brazil's largest oil union began an open-ended strike on Sunday, protesting against attempts by the government to shrink the state-run oil company Petrobras, which is reeling from a corruption crisis and a crash in the oil price.

• Monday, November 2nd 2015 - 09:18 UTC

  China's Renmimbi has become world's second most used currency in trade finance

  

  As China establishes itself as the world’s second largest economy and top trading nation, its currency, the renminbi (RMB), is also gaining popularity around the world. According to the People’s Bank of China’s 2015 Renminbi Internationalization Report, the RMB was the world’s 5th most used payment currency, the 2nd most used trade finance currency, and the 6th most traded currency in 2014.

• Monday, November 2nd 2015 - 08:43 UTC

  Brazilian central bank opposes using the country's US$ 370bn reserves

  

  Brazil's central bank chief, Alexandre Tombini, told lawmakers he opposes using the country's $370 billion foreign reserves at this moment as they serve as an insurance policy for Latin America's largest economy.

• Saturday, October 31st 2015 - 09:40 UTC

  UK and Brazil committed to exchange of EU/Mercosur market access offers by end of 2015

  

  The United Kingdom and Brazil reaffirmed on Friday their support for the success of the European Union/Mercosur Association agreement negotiations in the framework of the eighth meeting of the UK-Brazil Joint Economic and Trade Committee (JETCO) which emphasizes bilateral cooperation and initiatives.

• Saturday, October 31st 2015 - 07:04 UTC

  Griesa accepts 'me too' claims and raises Argentina's bond debt to US$ 9bn

  

  US judge Thomas Griesa on Friday accepted the priority repayment claims of hundreds more Argentine bondholders who did not join a huge debt restructuring. The ruling, on 49 complaints representing debt worth $6.1 billion, added fresh pressure on Buenos Aires which has refused to pay off two hedge fund creditors that already won court support for their claims.