Economy

Friday, March 27th 2015 - 08:07 UTC
Petrobras engineering firm contractor files for bankruptcy

Brazilian engineering firm Galvao Engenharia said on Wednesday it filed for bankruptcy protection, as state-run oil company Petrobras cut off payments due to a broad corruption scandal in which it had been implicated.
Friday, March 27th 2015 - 07:52 UTC
International summit on oil and gas potential in Uruguay next June

Uruguay's oil and gas Government owned company, ANCAP, will join senior level delegation from international oil and gas operators on 11-12 June 2015 in Montevideo to analyze the potential of a region that has experienced significant advances since 2009.
Thursday, March 26th 2015 - 14:41 UTC
Falklands' main import trading partner is the UK with 87% of all goods

The United Kingdom is the main import trading partner of the Falkland Islands with 87% of all imported goods coming from the UK in 2012 (Customs and Immigration 2013) with the rest imported mostly from Chile and Uruguay, according to the latest report on the Falklands' “State of the Economy”.
Thursday, March 26th 2015 - 09:20 UTC
Argentina considers Citigroup deal with US Judge Griesa could have violated local law

Argentina's Economy Minister Axel Kicillof said on Wednesday a deal between Citigroup Inc and U.S. judge Thomas Griesa allowing the banking giant to process two Argentine debt payments violated the country's laws.
Thursday, March 26th 2015 - 09:07 UTC
Brazil central bank will cease forex intervention program as of April

Brazil's central bank announced on Tuesday it will not extend its currency intervention program past March 31 as a combination of political problems at home and fears of higher U.S. interest rates push the Real near its lowest levels in a decade. The bank will, however, roll over all swaps expiring after May 1.
Thursday, March 26th 2015 - 08:22 UTC
Griesa blocks Euroclear from processing any Argentina bonds payments

New York judge Thomas Griesa on Wednesday barred Euroclear, the giant Belgium-based financial clearing and settlement house, from processing any debt payments by Argentina. In the newest step tightening Buenos Aires' avenues for avoiding paying off hedge funds on their bonds, Griesa forbade Euroclear from processing “any payments received from any source” in respect to Argentine bonds.
Wednesday, March 25th 2015 - 21:35 UTC
Falklands releases “State of the Economy” and “Living Wage” reports

The Falkland Islands has released two new documents, the Islands State of the Economy and on income needed to comfortably cover all of a household's expenses. The Falklands enjoys one of the highest standards of living in the Americas with low inflation and virtually full employment.
Wednesday, March 25th 2015 - 07:30 UTC
New York Court of Appeals delays decision on Argentina's contempt of court

The New York Court of Appeals has decided to push back its decision on Argentina for another week, as the Cristina Fernandez administration seeks to overturn the contempt ruling imposed by judge Thomas Griesa in the ongoing conflict against holdout investors.
Wednesday, March 25th 2015 - 07:07 UTC
Falklands' economy performance impressive, although volatile and vulnerable

The Falkland Islands economy has witnessed impressive, although volatile, growth in recent years with unemployment rates low enough to be the envy of most countries in the world and the government is free of debt, according to the latest “State of the Economy” released by the Falklands Policy Unit.
Tuesday, March 24th 2015 - 05:16 UTC
Holdouts of Argentine-law bonds 'reach agreement' with Griesa and Citibank

Paul Singer-controlled NML Capital said that the hedge fund, as well as other holders of Argentine debt, made a deal with Citibank regarding the legal dispute at New York courts over Argentine-law bonds.