Economy

Tuesday, October 6th 2015 - 07:40 UTC
Latin America forecasted to contract 0.3% this year and 0.7% growth in 2016

The United Nations Economic Commission for Latin America and the Caribbean, ECLAC, forecasted a downward trend in the region’s economic activity for 2015 to -0.3% from 0.5%, and estimates that for 2016 growth will be close to 0.7%.
Tuesday, October 6th 2015 - 07:28 UTC
Victory for Argentina in its ongoing battle with speculative funds

The 2nd US Circuit Court of Appeals in New York refused on Monday to force Bank of New York Mellon Corp to turn over to holders of defaulted Argentine bonds any of the $539 million the country deposited in 2014 to pay creditors who participated in its past restructurings.
Tuesday, October 6th 2015 - 07:19 UTC
Argentina cancels $5.9bn Boden 2015 bond and issues new debt for $500m

Argentina's central bank on Monday afternoon confirmed the 5.9 billion dollar payment Argentina was due to make ended successfully, adding “the level of reserves is enough for the execution of our exchange policy.”
Monday, October 5th 2015 - 23:20 UTC
Agricultural expansion main factor of Brazil's deforestation and it's expanding

Agricultural expansion is the chief contributing factor to the deforestation of Brazilian ecosystems and has accelerated in recent years, according to an official study released last week.
Saturday, October 3rd 2015 - 08:47 UTC
Argentina will pay $5.9bn mature Boden 15 bonds on Monday, and issue new debt

Argentina on Monday will pay the $5.9 billion maturity due for its Boden 15 bonds in cash and issue new debt the following day, Economy Minister Axel Kicillof said on Friday. Argentina which is in technical default on some debt because of a legal fight with bondholders in the United States, targets raising $500 million in the auction of notes under Argentine law, Kicillof told a news conference.
Saturday, October 3rd 2015 - 08:11 UTC
Rousseff reshuffles cabinet and gives more power to key ally PMDB and Temer

Brazilian President Dilma Rousseff on Friday announced a Cabinet reshuffle that reduces the number of posts from 39 to 31 and gives a more significant role to the Brazilian Democratic Movement Party, or PMDB, the country's biggest and a key ally of her Workers' Party.
Saturday, October 3rd 2015 - 07:55 UTC
Rousseff's main coalition ally, “110 satisfied” with latest changes, but 'there's some fat left'

Brazil largest party, main ally and pillar of President Dilma Rousseff's fragile coalition said it was “110% satisfied” with the changes announced on Friday: reducing cabinet posts from 39 to 31, slashing thousands of coveted jobs for political appointees and cutting her salary and that of the vice president by 10%.
Saturday, October 3rd 2015 - 07:29 UTC
US jobs created in September sharply lower than expected; fears global slow-down is hitting America

The US economy added just 142,000 jobs in September, lowering the chance of an interest rate rise this year. The figure was far lower than the 205,000 increase forecast by economists. The number of jobs created in July and August were revised down by a combined 59,000.
Friday, October 2nd 2015 - 06:09 UTC
Zurich, Geneva and New York, most expensive cities in the world, says UBS

UBS released on Thursday the 16th edition of its UBS Prices and Earnings study, which examines prices, wages and earners' purchasing power in 71 cities worldwide. The study, published roughly every three years since 1971, compiles over 68,000 data points reflecting economic events that have shaped the world since the last edition in 2012.
Friday, October 2nd 2015 - 05:58 UTC
Mercosur and EU analyze 'level of ambition' of their trade proposals

Technical delegates from Mercosur and the European Union are holding a round of talks in Asunción to consider 'levels of ambition' for the coming exchange of tariff proposals with the purpose of reaching a much delayed free trade agreement, said Paraguayan Deputy Economic Relations minister, Rigoberto Gauto.