Economy

Friday, February 12th 2016 - 06:15 UTC
Falklands' oil industry development continues despite slump in crude prices

Rockhopper Exploration flagship project, offshore the Falkland Islands the Sea Lion oil field development, continues to advance despite the recent slump in crude prices.
Thursday, February 11th 2016 - 05:57 UTC
Fed warns about uncertainty in China and tightening financial markets

Tightening financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the US economy off track from an otherwise solid course, Federal Reserve Chair Janet Yellen cautioned in a prepared testimony to Congress on Wednesday.
Thursday, February 11th 2016 - 05:40 UTC
Brazil reopens crucial waterway for transporting soy; water was used to generate power

Brazil's Tiete-Parana waterway, a key transport corridor for soybeans, corn, cellulose, fertilizer and other agricultural products, has reopened after a 20-month closure due to drought and the use of water for electricity, the Estado de S. Paulo newspaper reported this week.
Thursday, February 11th 2016 - 05:22 UTC
Magallanes enjoying an unexpected excellent cruise season

Chile anticipates a 30% increase in cruise activity in the extreme south of the country, mainly Punta Arenas and Puerto Natales, announced Lorena Araya, head of Magallanes region National Tourism Service, Sernatur.
Wednesday, February 10th 2016 - 23:11 UTC
Montevideo-Stanley, an integrating and necessary air link

By Jaime Trobo (*) - For some time now we have been arguing that Uruguay must strengthen its bonds and contacts with a neighboring territory, in the southern cone, part of our American continent, where families who arrived in our region during the first half of the XIX century live, and with whom those contacts, once very intense, have waned, particularly in the last decades.
Wednesday, February 10th 2016 - 07:24 UTC
Argentina still has uphill battle with holdouts: a stay of pari-passu is next round

While investors cheered progress on last week's arduous negotiations in New York between Argentine government officials and litigant investors, the administration of president Mauricio Macri still faces an uphill battle as it works to bring other holdouts on board.
Wednesday, February 10th 2016 - 07:16 UTC
US Treasury's strong support message for Argentina's litigation with holdout funds

The United States gave another sign of support for Argentina’s economic policies as US Treasury Secretary Jacob Lew spoke on the phone with Finance Minister Alfonso Prat-Gay, striking an optimistic tone regarding the settlement offer made to the holdout funds in New York.
Saturday, February 6th 2016 - 07:57 UTC
Pollack statement: “pleased to report that enormous progress has been made”

Daniel A. Pollack, Special Master presiding over settlement negotiations between the Republic of Argentina and its “holdout” Bondholders issued the following statement today (Friday, Jan 5):
Saturday, February 6th 2016 - 07:37 UTC
US unemployment drops to 4.9% in January, but hiring is slowing down

The latest report from the United States Labor Department for January showed job gains slowed more than expected as the boost to hiring from unseasonably mild weather faded last month. However unemployment dropped to 4.9% of the workforce, the lowest in almost eight years.
Saturday, February 6th 2016 - 07:00 UTC
Argentina close to a full agreement with holdouts: US$ 6.5bn offer to end the litigation

Argentina offered a $6.5 billion cash payment to creditors suing the country over defaulted bonds on Friday, seeking to end an exhausting 14-year legal battle, “the sovereign debt trial of the century”, that transformed the country into a financial markets pariah. Two out of six leading bondholders have already accepted the offer, the U.S. court-appointed mediator said, hailing the proposal by Argentina's new, business-friendly government as an “historic breakthrough”.