Economy

• Tuesday, June 30th 2015 - 06:46 UTC

  China's 'World Bank' takes off at ceremony with delegates from 50 countries

  

  China has hosted the signing ceremony of the Asian Infrastructure Investment Bank (AIIB), a new international financial institution set to rival the World Bank and Asian Development Bank. Delegates from 50 countries signed articles that determine each member's share and the bank's initial capital.

• Monday, June 29th 2015 - 20:25 UTC

  Strangling Falklands' hydrocarbons industry is 'unacceptable' with dangerous implications for global business

  

  The government of Argentina's campaign to strangle the Falkland Islands hydrocarbons industry is 'unacceptable' and taking action against British and international oil and gas companies has dangerous implications for global business, warned Foreign Office minister Hugo Swire on Monday reacting to an Argentine federal court ordering the seizure of UK and US assets involved in Falklands' operations.

• Monday, June 29th 2015 - 19:45 UTC

  Falklands elected government: “Argentina courts have no jurisdiction in the Falklands”

  

  “Argentine courts have no jurisdiction in the Falkland Islands”, said Falklands' lawmaker Mike Summers early Monday in response to the latest Argentine attempt into bullying the Islands and derailing its economy.

• Monday, June 29th 2015 - 06:20 UTC

  Greek banks closed and Tsipras takes the dispute with ECB and IMF to the brink

  

  Greek banks are to remain closed and capital controls will be imposed, Prime Minister Alexis Tsipras announced. Speaking after the European Central Bank (ECB) said it was not increasing emergency funding to Greek banks, Tsipras underlined Greek deposits were safe.

• Monday, June 29th 2015 - 05:58 UTC

  Greece in the Caribbean: Puerto Rico admits it's broke and can't pay debts

  

  Puerto Rico’s governor Alejandro Garcia Padilla has admitted that the island cannot pay its roughly $72 billion dollars in debts, an admission that will probably have wide-reaching financial repercussions beginning Monday. Last week the governor and his top staff anticipated they would seek significant concessions from the island’s creditors.

• Sunday, June 28th 2015 - 10:22 UTC

  Argentina's economy picks up 1.1% during first quarter compared to a year ago

  

  Argentina's GDP increased 1.1% during the first three months of 2015 compared to the same period last year, boosted by the domestic market and growths in the agricultural and construction sectors, the official Indec statistics bureau has revealed. This is the second quarter running that records an advance, following a drop in last year's third quarter.

• Friday, June 26th 2015 - 06:19 UTC

  Argentine industrial production down in May but some sectors are recovering

  

  Argentine industrial production fell 0.3% in May compared to the same month last year, marking its 22nd consecutive decrease according to the INDEC statistics bureau. Taking into account the first five months of 2015, industrial activity decreased 1.5% compared to the same period of 2014.

• Thursday, June 25th 2015 - 07:33 UTC

  Brazilian central bank inflation estimates anticipate increase in interest rates

  

  The Brazilian Central Bank on Wednesday raised its inflation estimate for 2015 to 9%, or almost double the midpoint in the official range and well above the 6.5% top end target, and said the economy may contract by 1.1% this year, marking the worst performance since 1990.

• Tuesday, June 23rd 2015 - 07:43 UTC

  Uruguay and Paraguay meet to talk about Mercosur, ports and energy

  

  Mercosur, ports, energy, trade are among the issues in the agenda that Paraguayan president Horacio Cartes will consider with his counterpart Tabare Vazquez when he makes a one day visit on Thursday to Montevideo, according to the Uruguayan ambassador in Asunción Federico Perazza, ahead of the meeting.

• Saturday, June 20th 2015 - 09:16 UTC

  Buenos Aires/Moscow close ties are “a fact, not a wish”, says Argentine minister Kicillof

  

  Argentine Economy Minister Axel Kicillof speaking from Moscow said ties between Buenos Aires and Russia were “a fact, not a wish” praising the bilateral “natural understanding” and “complementation”, achieved by the two partners in economic, energy and trade affairs.