Economy

Friday, November 27th 2015 - 07:55 UTC
Brazilian banks follow closely events in Argentina: Dollar at 12 Pesos

Brazilian banks which follow closely events in Argentina and prospects of the new government under president Mauricio Macri, believe the official exchange rate of 9.67 Pesos to the dollar will inevitably have to be devalued, to 12 Pesos by the end of the year, which means a 24% depreciation.
Friday, November 27th 2015 - 07:43 UTC
US gaining influence in Caricom: signs US$ 165m in development assistance

The United States Agency for International Development (USAID) and the Caribbean Community (CARICOM) signed in Guyana, this week, agreements that will see countries of the eastern and southern Caribbean benefiting from US$165 million in development assistance.
Thursday, November 26th 2015 - 16:57 UTC
In a split vote, Brazil's central bank leaves Selic rate unchanged; pressure for an increase

Brazil's central bank kept interest rates on hold for the third straight meeting on Wednesday in a split vote that shows policymakers are uneasy about inflation, a worsening recession which might lead to a raise in rates early in 2016.
Thursday, November 26th 2015 - 08:23 UTC
Brazil in shock: a leading senator and billionaire fund manager arrested for obstructing justice

Brazil is in shock following the arrest by police on Wednesday of a senior ruling-party senator and a billionaire investment banker in the intensifying probe of a huge corruption network centered on state oil giant Petrobras.
Thursday, November 26th 2015 - 08:18 UTC
Poor report on Rousseff's performance from Brazil's central bank forecast

Analysts expect Brazil's economy to contract by 3.15% this year and 2.01% in 2016, the Central Bank reported. The gross domestic product (GDP) estimate comes from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Wednesday, November 25th 2015 - 08:33 UTC
Commodities prices hovering at 13-year lows; metals suffered the most

Commodities hit 13-year lows on Monday as metals markets crashed but a steady close in oil and higher grains markets helped a key sector benchmark settle off the day's trough. Copper and nickel prices fell to multi-year lows, forcing the Thomson Reuters/Core Commodity CRB Index to its lowest levels since November 2002.
Wednesday, November 25th 2015 - 08:22 UTC
Mercosur ready to begin political negotiations for the trade agreement with the European Union

Mercosur is only waiting for the European Union to begin the political negotiations on the long delayed overall trade agreement, announced Paraguay's foreign minister Eladio Loizaga in Asunción, just back from Brussels where he met with EU and Belgian officials.
Wednesday, November 25th 2015 - 00:02 UTC
Falklands' oil industry re-spuds Isobel Deep reservoir

Falkland Oil and Gas Limited, FOGL, one of several international companies involved in the Falklands' oil industry, announced on Monday that the 14/20 Isobel 2 well was spudded by Premier Oil as operator on Saturday, 21 November.
Tuesday, November 24th 2015 - 14:53 UTC
Summit of gas exporting countries opened in Tehran with nine leaders attending

A landmark summit of the Gas Exporting Countries Forum (GECF) has opened in the Iranian capital Tehran with the participation of the heads of nine member states. Presidents of Iran, Russia, Venezuela, Iraq, Bolivia, Equatorial Guinea, Nigeria, Turkmenistan as well as the Algerian prime minister are the key participants.
Tuesday, November 24th 2015 - 12:21 UTC
Macri will announce his economic team and measures once he has access to official data

In his first press conference as Argentine president-elect, Mauricio Macri announced on Monday he would not have a Secretary of Economy but rather an economic cabinet with six members, and anticipated that the team that will be taking office with him, as well as those in the province of Buenos Aires, “will include many officials which do not come from the political system”.