Economy

• Tuesday, September 8th 2015 - 08:30 UTC

  European protesting farmers promised a €500m aid package by Brussels

  

  European Union agriculture ministers have announced a €500m aid package after thousands of farmers protested on the streets of Brussels. The mainly Belgian, French and German farmers were protesting against plummeting prices for their produce.

• Monday, September 7th 2015 - 09:59 UTC

  “For a more competitive Europe”

  

  Prime Minister and Spanish Prime Minister Mariano Rajoy wrote an article for the Spanish newspaper Expansión on competiveness.

• Friday, September 4th 2015 - 09:00 UTC

  First oil production off Rio de Janeiro with FPSO 'Cidade de Itaguai', five months ahead of schedule

  

  MODEC Inc. announced on Thursday that its FPSO 'Cidade de Itaguai MV26', operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil, has achieved First Oil production on July 31, 2015, five months ahead of the schedule anticipated under the contract.

• Friday, September 4th 2015 - 08:26 UTC

  Falklands approves Noble and Premier plans to drill Rhea-1 and Jayne East

  

  The most recent meeting of the Falkland Islands' Executive Council (ExCo) was dominated by matters relating to oil exploration and development including recommendations for plans of Noble Energy and Premier Oil to go ahead with drilling of Rhea-1 and Jayne East wells.

• Thursday, September 3rd 2015 - 10:29 UTC

  Brazil's central bank leaves basic interest rate unchanged at 14.25%

  

  Brazil's central bank halted one of the world's boldest rate-hiking cycles on Wednesday, taking pressure off an economy struggling with recession even amid concerns that a looming budget crisis could stoke inflation.

• Thursday, September 3rd 2015 - 08:30 UTC

  Brazilian industrial production plummets in July: 8.9% from a year earlier

  

  Brazil's industrial production plummeted in July and fell well below economists' worst predictions. Industry output sank 1.5% in July from June in seasonally adjusted terms and was down 8.9% from a year earlier, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. The IBGE also revised June's drop to 0.9% from 0.3% from the previous month.

• Thursday, September 3rd 2015 - 07:44 UTC

  Argentina's central bank and foreign private banks clash over removal of HSBC directors

  

  Argentina's Central Bank and the Argentine Banking Association (ABA) exchanged fierce criticism on Wednesday after the decision of the monetary authority to remove the licenses of two senior HSBC directors, who will be forced to leave their posts.

• Thursday, September 3rd 2015 - 07:21 UTC

  Rousseff pledges to reduce budget deficit; denies Levy was stepping down

  

  President Dilma Rousseff vowed on Wednesday to take new measures to reduce the deficit her administration is projecting for 2016, without ruling out more spending cuts and additional taxes in Brazil. The 2016 budget unveiled on Monday projected Brazil’s first-ever primary fiscal deficit, before payment of interest on the national debt, sparking controversy.

• Thursday, September 3rd 2015 - 07:13 UTC

  Brazilian VP calls on business community for a 'national alliance'

  

  President Michel Temer asked business owners and executives for a “national alliance” to deal with Brazil's political crisis and shaky economic situation. Temer is leader of the centrist PMDB, the main governing partner of Rousseff's center-left Workers Party, PT.

• Wednesday, September 2nd 2015 - 08:30 UTC

  Despite China, for the Fed and BoE, an interest rate raise still on the table

  

  United States inflation will likely rebound as pressure from the dollar fades, allowing the Federal Reserve to raise interest rates gradually, Fed Vice Chairman Stanley Fischer said on Saturday in a speech careful not to overreact to a possible Chinese slowdown.