Economy

Saturday, September 26th 2015 - 09:43 UTC
US dollar in Argentina at an all time record of 16.08 Pesos

The unofficial or 'blue' US dollar exchange rate in Argentina hit an all-time high of 16.08 Pesos at the end of trading on Friday, due in part to policy uncertainty ahead of the October 25 presidential election, according to local market sources.
Saturday, September 26th 2015 - 09:04 UTC
Bill & Melinda Gates foundation sues Petrobras alleging 'pervasive bribery'

Bill & Melinda Gates Foundation have sued Petrobras to recoup stock losses stemming from a corruption scandal at the state-run oil company.
Saturday, September 26th 2015 - 08:03 UTC
Petrobras increases LPG price 11% for commercial and industrial clients

Petrobras announced that the price of liquefied petroleum gas (LPG) for commercial and industrial clients has risen 11%, effective midnight Friday. The company said the increase does not affect the price of LPG sold in smaller containers for residential uses such as household cooking, which rose 15% on September first.
Saturday, September 26th 2015 - 07:43 UTC
Falklands' oil companies agree to resume drilling at successful Sea Lion prospect

Falkland Oil and Gas PLC on Friday announced it has agreed with Rockhopper Exploration PLC and Premier Oil PLC to drill another well on the Isobel/Elaine complex to replace the planned Jayne East well.
Friday, September 25th 2015 - 23:14 UTC
“My most urgent task is to win back trust for the VW Group” said new CEO Mueller

Matthias Mueller has been named as Volkswagen (VW) chief executive in the wake of the scandal of rigged emissions tests in diesel cars. He succeeds Martin Winterkorn, who resigned on Wednesday. Mr. Mueller is a veteran hand of the company and was head of Posche's sports car division.
Friday, September 25th 2015 - 07:26 UTC
Argentina remains 'reluctant' and has 'reserves' about a trade accord Mercosur/ Europe

Mercosur foreign ministers meeting held this week in Paraguay to decide on the proposal to present the European Union for a trade agreement, apparently was not as “satisfactory” as announced because of Argentina's reluctance and 'reserves' about opening its market to the EU.
Friday, September 25th 2015 - 07:17 UTC
Brazil's Real recovers ground after Central bank promises to use all 'instruments available'

Brazil's depressed currency rebounded Thursday after the head of its central bank vowed to use all instruments in its arsenal to curtail the Real's collapse. Earlier in the day the Real tumbled to an all-time low of 4.248 to the U.S. dollar, but bounced back to 4.023 after central bank President Alexandre Tombini, in an unscheduled press briefing, did not rule out selling part of the country's $371 billion foreign reserves to calm the exchange rate market.
Friday, September 25th 2015 - 06:37 UTC
Minister Swire will open UK consulate in the Brazilian state of Minas Gerais

The UK will be opening a general consulate office in Belo Horizonte, capital of Minas Gerais, one of Brazil's most dynamic states, which outstands both for agriculture and industrial production. Foreign Office minister for Latin America, Hugo Swire is scheduled to be present at the opening ceremony on Friday.
Friday, September 25th 2015 - 05:59 UTC
“Let the private sector make business with Falkland/Malvinas, a blockade in the Americas is unacceptable” said lawmaker Trobo

Uruguayan lawmaker Jaime Trobo said that a blockade in the Americas was 'unacceptable' and called for closer links between the Falkland/Malvinas Islands and the continent, urging the private sector to take advantage of the business opportunities in trade and services.
Thursday, September 24th 2015 - 09:05 UTC
Rousseff partial victory: Congress upholds vetoes cutting additional expenses

Brazil's Congress on Wednesday voted to uphold most of President Dilma Rousseff's vetoes on billions of dollars in additional expenses, marking a partial victory for the president, who is fighting a weakening economy and calls for her ouster, plus a plunging currency.