Economy

• Thursday, December 17th 2015 - 07:33 UTC

  Congress/Obama deal includes voting for the long stalled IMF quota reforms

  

  The United States Congress has taken a step closer to granting long-awaited approval to reforms of the International Monetary Fund that would give China and other emerging economies a greater voice in shaping the institution's policies.

• Thursday, December 17th 2015 - 06:50 UTC

  Argentina lifts foreign currency controls and let's Peso float, as of Thursday

  

  Argentina announced on Wednesday it was lifting currency controls and would allow the peso to float when markets open on Thursday, setting the stage for a devaluation, following pledges by new president Mauricio Macri for reforms to spur economic growth.

• Thursday, December 17th 2015 - 03:40 UTC

  Fed hikes rate to 0.25% in unanimous decision; positive reaction from markets

  

  The United States Federal Reserve on Wednesday delivered its first interest rate hike since 2006, with the decision a unanimous one. The central bank raised its key federal funds rate to 0.25%, up from at or near zero percent for the last seven years.

• Wednesday, December 16th 2015 - 08:49 UTC

  Argentina outlines oil and gas wellhead price policy

  

  Argentina's new government will maintain wellhead crude prices above international levels for now, although the differential will narrow as artificially low wellhead prices for natural gas are gradually adjusted upwards, energy minister Juan Jose Aranguren announced on Tuesday.

• Wednesday, December 16th 2015 - 08:10 UTC

  Argentina on track to end import restrictions by end of the year

  

  President Mauricio Macri's administration announced the end of restrictions on imports into Argentina, with the current controls of 'sworn statements' or DJAI, replaced by a system of automatic and semi-automatic licences.

• Wednesday, December 16th 2015 - 07:26 UTC

  Expect a much smaller and more profitable Petrobras, in four years, says CEO Bendini

  

  Petrobras, Brazil's largest corporation, carried out asset sales and underwent a restructuring this year in response to a severe financial crisis, emerging smaller but with a more profitable and productive future ahead, CEO Aldemir Bendini said Tuesday.

• Tuesday, December 15th 2015 - 08:36 UTC

  Brazil in recession, but farming is booming with the 29% fall of the Real

  

  Financial and political turmoil that have Brazil on the brink of a depression is also contributing to one of the best years ever for domestic farmers. Economic stress and a weak currency has facilitated export revenue for everything from soybeans to beef to coffee.

• Tuesday, December 15th 2015 - 08:32 UTC

  Brazil's Central bank Focus weekly negative report

  

  Analysts expect Brazil's economy to contract by 3.62% this year, with inflation hitting 10.61%, the Central Bank said Monday. GDP and inflation estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.

• Tuesday, December 15th 2015 - 08:18 UTC

  Macri slashes agriculture export duties; farmers promise 30% larger crop next year

  

  Argentina's business friendly president Mauricio Macri, announced on Monday large tax cuts on agricultural exports and emphasizing that “the camp was essential to get Argentina back on its feet”. Macri, who took office Thursday, had promised to slash the steep taxes on agricultural exports, which triggered major protests by producers against former president Cristina Fernandez administration.

• Tuesday, December 15th 2015 - 08:09 UTC

  Falklands: UK company to help construct soldiers' accommodation blocks

  

  A construction firm from Grimsby, Fast-Form Systems has won a £200,000 contract with the British Ministry of Defense to support the construction of soldiers' accommodation blocks in the Falkland Islands.