Economy

• Tuesday, May 26th 2015 - 06:38 UTC

  YPF strikes oil in south Patagonia; resources estimated in 40m oil barrels

  

  Argentina's oil and gas government managed corporation YPF announced the discovery of a new oil field in Los Caldenes, in Patagonia Rio Negro province, with resources estimated in 40 million oil barrels. Manzano Grande x-1 is the second “discoverer well” in this block of 115 square kilometers located north of the Cinco Saltos town.

• Monday, May 25th 2015 - 06:25 UTC

  Bachelet underlines close economic and political ties of Chile with China

  

  Chile and China have enjoyed a positive and fruitful relationship and bilateral ties will further develop very strongly in the future, anticipated Chilean President Michelle Bachelet during an interview with Xinhua prior to Chinese Premier Li Keqiang's upcoming visit

• Monday, May 25th 2015 - 06:20 UTC

  Li Keqiang in Chile pledges to lift strategic partnership to a new height

  

  Chinese Premier Li Keqiang arrived in Santiago on Sunday for an official visit to Chile, the first South American country with which China forged diplomatic ties (1970) and also the first Latin American nation with which China signed a free trade agreement.

• Sunday, May 24th 2015 - 08:02 UTC

  President Rousseff to face criminal complaint over 'cosmetic' accounting

  

  Brazil´s main opposition party plans to pursue a criminal complaint against President Dilma Rousseff for 'inventive' accounting that helped shore up the country´s fiscal results in recent years.

• Sunday, May 24th 2015 - 07:57 UTC

  Yellen, confident in the US economy, said interest rates will be raised this year

  

  Federal Reserve Chair Janet Yellen made it clear on Friday that the central bank was poised to raise interest rates this year, as the US economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned. The announcement was made in a speech to a business group in Rhode Island.

• Saturday, May 23rd 2015 - 06:27 UTC

  Brazil announces US$ 22.5bn spending cuts and confirms minister Levy

  

  Brazil finally announced its much expected budget resources reshuffle that will freeze 69.9 billion Reais (22.58 billion dollars) worth of spending on investment, education and health programs this year, limiting outlays in a bid to convince investors that President Dilma Rousseff is committed to saving the country's investment-grade rating.

• Saturday, May 23rd 2015 - 06:06 UTC

  Argentina's soy market paralyzed by oilseed crushers union three weeks strike

  

  The soy market in Argentina's pivotal grains hub was virtually paralyzed for the fifth day on Friday as most exporters refrained from purchases in a bid to pressure the government to resolve a nearly three-week long strike among crushing workers.

• Friday, May 22nd 2015 - 10:21 UTC

  El Niño could again disrupt global food markets later this year

  

  A strong El Niño is likely to increase prices of staple foods such as rice, coffee, sugar and cocoa, say scientists. Forecasters agree that the El Niño effect, which can drive droughts and flooding, is under way in the tropical Pacific, but they say it is too early to say how severe it will be.

• Friday, May 22nd 2015 - 08:52 UTC

  PM Li Keqiang in Bogotá: China and Colombia considering free trade accord

  

  Chinese Premier Li Keqiang vowed to deepen economic ties with Colombia after arriving to Bogotá on Thursday, as part of his four-nation South American tour aimed at boosting trade and investment. Li is the highest-ranking Chinese official to visit Colombia since the two nations established diplomatic ties 35 years ago and his visit was hailed as historic by President Juan Manuel Santos.

• Friday, May 22nd 2015 - 08:36 UTC

  A quarter of Argentine children is poor compared to 10.8% for the whole population

  

  A quarter of children below the age of four in Argentina is poor and almost five in ten babies less than six months have malnutrition problems according to the Center for Implementation of Equity and Growth Public Policies, CIPPEC. The data was provided in the CIPPEC website dedicated to make first infancy a priority through a childcare integral policy.