Economy

Friday, May 15th 2015 - 04:41 UTC
Exxon discovers oil off Guyana coast, in territory claimed by Venezuela

Exxon Mobil Corp has discovered oil off the coast of Guyana, the company and the South American nation's government said on Thursday, potentially inflaming a long-running territorial dispute with neighboring Venezuela.
Thursday, May 14th 2015 - 07:30 UTC
Brazil's austerity measures to balance the budget start moving in Congress

Brazil's Congress Lower House passed a bill on Wednesday toughening access to social security pensions, the second measure approved in a week to cut benefits in a drive to reduce a growing fiscal deficit.
Wednesday, May 13th 2015 - 08:37 UTC
IDB 216m dollars loan for Uruguay to support construction of wind farms

The Inter-American Development Bank (IDB) continues to support the expansion of renewable energy in Uruguay through two financial packages, totaling 216 million dollars, which were approved for the private sector to finance part of the construction of the Colonia Airas and Valentines wind farms and their related works.
Wednesday, May 13th 2015 - 08:29 UTC
Petrobras still Latam's top company but fell to second-worst performer because of corruption losses

Brazil's state oil giant Petrobras remains Latin America's top company in revenues, but has lost its position as the profit leader after posting record losses last year due to a growing corruption scandal and administrative inefficiencies, according to a new ranking of the region's 500 largest companies from digital publication Latinvex.
Wednesday, May 13th 2015 - 08:21 UTC
Latam to debate controversial issue: 'post Washington Consensus' industrial policies

The Inter American Development Bank, IDB, has organized a seminar to discuss industrial policies in Latin America and the Caribbean in a post Washington-Consensus framework. Anemic economic growth in the region is in need of policy shot in the arm.
Wednesday, May 13th 2015 - 08:14 UTC
Remittances to Latin America and Caribbean beat the 2008 pre-crisis record

Remittances to Latin America and the Caribbean set a new record high in 2014 with 65bn dollars basically supported by the recovery of the economy and labor market in the United States, according to the latest release from the Inter American Development Bank.
Wednesday, May 13th 2015 - 07:00 UTC
Cameron puts pressure on Europe for major changes and revamped links

Prime Minister David Cameron will hold an early referendum on membership of the European Union if he can first reach a deal that satisfies his demands for major changes in Britain's relationship with the bloc, his spokesman said yesterday.
Tuesday, May 12th 2015 - 22:03 UTC
Falklands' Isobel Deep drilling operations have recommenced

Energy company Rockhopper Exploration and Falkland Oil and Gas Ltd., have announced that drilling operations at Isobel Deep well have recommenced. Isobel Deep is located in the North Falklands basin and is part of the current round of drilling in Falklands' waters.
Tuesday, May 12th 2015 - 10:41 UTC
In Chile when in difficulties turn right: former IMF deputy chief Finance minister

In a move which has been interpreted as a right turn, economist Rodrigo Valdes was named as Chile's finance minister on Monday by President Michelle Bachelet, in a sweeping cabinet reshuffle in which four of her closest ministers were sacked or shifted into other roles. On Valdes' immediate to-do list is an upcoming 1.26 billion dollars international debt issue.
Tuesday, May 12th 2015 - 06:25 UTC
Argentina reacts to hedge funds attempt to block a fresh debt emission

Argentina has launched a stinging attack on hedge funds attempting to block payment on last month's Bonar 24 debt issuance, stating that the petition shows the 'vulture funds' desperation following the successful auction.