Economy

• Saturday, August 8th 2015 - 09:44 UTC

  FAO pressing countries to ratify agreement on illegal, unreported, unregulated fishing

  

  A growing number of countries are ratifying an international agreement to combat illegal fishing, fueling interest in how best to implement the instrument. Illegal, unreported and unregulated (IUU) fishing is estimated to strip between $10 billion and $23 billion from the global economy, and their impacts undermine the way fish stocks are managed to make it a double concern around the world.

• Saturday, August 8th 2015 - 09:31 UTC

  Chile's inflation climbs 0.4% in July to an annualized 4.6%; Peso slides 11%

  

  Chile’s inflation rate rose to the highest this year in July as the Peso approaches its weakest level in more than a decade. Prices climbed 0.4% in the month, the National Statistics Institute said on its website Friday. Annual inflation accelerated to 4.6% from 4.4% the month before, while the central bank target is between 2% and 4%.

• Saturday, August 8th 2015 - 09:20 UTC

  Brazil's July inflation climbed to 9.56%, powered by electricity bills, up 57.8%

  

  Brazil's annual inflation rate climbed to 9.56% in July, the highest level since 2003, official data showed Friday. Prices are being driven higher by the rising cost of electricity -- up 57.8% in the past 12 months -- as well as increasingly expensive housing, food and beverages, and health care.

• Saturday, August 8th 2015 - 08:54 UTC

  Argentine embassy in US launches website on the struggle with 'vulture funds'

  

  The Argentine Embassy in the United States has launched a website to explain the conflict between Argentina and holdout investors commonly referred to as “vulture funds”. The website explains the origins of the conflict, its history, and provides documents and expert opinions on the subject. Its virtual library has until now over 200 documents and 100 independent sources.

• Saturday, August 8th 2015 - 08:22 UTC

  Bank of England keeps rates unchanged; little talk of rise because of China and Greece

  

  UK interest rates have been held at 0.5% again by the Bank of England's Monetary Policy Committee (MPC). Members voted 8-1 to keep rates on hold - the first time for months the decision has not been unanimous, with Ian McCafferty voting for an increase.

• Friday, August 7th 2015 - 06:53 UTC

  YPF profits up, but no new joint-ventures in sight to develop Patagonia shale

  

  Argentina's state-managed energy firm YPF posted a second quarter net income of 2.297 billion pesos ($252.8 million) on Wednesday, a 50.5% increase on the same period last year. YPF earnings have been cushioned from the collapse of international oil prices by a government-controlled price for oil produced in the country, which sits at about $78 dollars per barrel.

• Friday, August 7th 2015 - 05:55 UTC

  Lan and Tam consolidate under an only brand of Latam Airlines

  

  LATAM Airlines Group will consolidate all its carriers, including Lan Airlines and Tam Linhas Aéreas S.A., into a single brand over the next three years, the company announced Thursday. Since Lan and Tam merged in 2012, they've operated as separate brands, but the parent company's goal has been to provide a carrier that can provide seamless coverage to the entire South American continent.

• Thursday, August 6th 2015 - 08:35 UTC

  Uruguay inflation at an annualized 9%; 60 days price-freeze of 1.400 items

  

  Uruguay's inflation climbed 1.21% during July and reached 6.91% in the first seven months of the year and 9.02% in the last twelve months, according to the release from the country's stats office, INE. In July 2014 inflation was 0.75%.

• Thursday, August 6th 2015 - 08:11 UTC

  NIESR 2015 global economic growth forecast lowered from 3.2% to 3%

  

  Global economic growth will slow this year to the lowest rate since the financial crisis, according to the National Institute of Economic and Social Research (NIESR). The think tank cut its 2015 forecast to 3.0% from the 3.2% it predicted in May.

• Wednesday, August 5th 2015 - 08:36 UTC

  Milestone for Peregrino field off Brazil: 100 million barrels of oil in four years

  

  After just four years in production, the Peregrino field in the Campos basin offshore Brazil has passed a significant milestone, with 100 million barrels of oil produced since April 2011. The field, jointly owned by Statoil and Chinese Sinochem, achieved the milestone on August 2.