Economy

Saturday, January 16th 2016 - 10:25 UTC
Tight budgets are forcing many Brazilian cities to cancel Carnival celebrations

Cities across Brazil are cancelling carnival celebrations as increasing economic woes hit Latin America's largest economy. Local governments are citing tightened budgets, with lower tax revenues and more important projects in need of funding.
Saturday, January 16th 2016 - 10:05 UTC
St Helena and its new airport get ready for tourism take-off

The Guardian Weekly has published a piece on prospects for St Helena with the opening of its international airport, most probably next May, and which is expected to turn the mid Atlantic's island economy, particularly with tourism, since none less that Napoleon Bonaparte spent his last years until his death, almost two centuries ago.
Saturday, January 16th 2016 - 10:00 UTC
US Dept of Agriculture studying Brazil's success as an agricultural powerhouse

Over the last 25 years, the US farmer has become increasingly aware of the impact of South American agricultural output on the global supply of grains and oilseeds. For example, in recent years Brazil has risen to the number one position as an exporter of soybeans.
Friday, January 15th 2016 - 09:24 UTC
Desperate for funds Rousseff offers amnesty to holders of undeclared offshore assets

Brazilian President Dilma Rousseff on Thursday signed a bill that gives amnesty to holders of undeclared offshore assets in exchange for a fine, part of efforts to cut a swelling budget gap and revive investment in the recession-hit economy. The law offers amnesty from prosecution to Brazilians if they bring unreported foreign funds home and pay a 30 percent fine in the form of tax.
Friday, January 15th 2016 - 07:57 UTC
Renault passes 'surprise VW emissions scam test', but impact is felt on shares

Shares in French carmaker Renault plunged 20%, before recovering to close 10.3% lower, after police raids on the company's facilities. The firm confirmed the raids took place last week and said investigators wanted to check equipment at its factories.
Thursday, January 14th 2016 - 06:54 UTC
Argentina needs to reach an agreement with holdouts, insists Prat-Gay

Argentina's new finance minister said on Wednesday it was imperative to resolve the country's legal dispute with U.S. creditors over unpaid debt because financing of the country's fiscal deficit this year may depend on progress on the issue.
Thursday, January 14th 2016 - 06:42 UTC
Argentina targets 25% inflation and fiscal deficit of 4.8% of GDP this year

Argentina Finance Minister Alfonso Prat Gay revealed on Wednesday that the fiscal deficit registered in 2015 was of 5.8% of GDP and 7.1% of GDP is all debts are computed, and complained that “there has been wasteful spending and when there is an expense it’s not well done.”
Thursday, January 14th 2016 - 06:01 UTC
Riots in Sao Paulo as police disperses protestors over rising transport fares

Sao Paulo police on Tuesday night fired tear gas and stun grenades to disperse protesters upset over rising transport fares, sparking memories of the 2013 street clashes in Brazil, this year's Olympic host. Riot cops wanted to prevent demonstrators from moving from the spot where they were gathered at one end of the city's major Paulista Avenue.
Thursday, January 14th 2016 - 05:48 UTC
Rio mayor confident the city has the funds to host the 2016 Olympic Games

The mayor of 2016 Olympic host city Rio de Janeiro insisted authorities had the finances to avoid disruption to the summer Games despite Brazil’s recession. Latin America's largest economy is suffering from a deep recession and soaring inflation -- a contrast to the boom times of 2009, when Rio won the right to host the Olympics.
Wednesday, January 13th 2016 - 08:16 UTC
Airbus delivered 635 planes last year, but was below Boeing's record

Airbus delivered a record number of planes in 2015 but failed to dethrone Boeing as the world's biggest aircraft manufacturer. The European company delivered a record 635 planes last year, compared with a tally of 762 jets for Boeing.