Economy

Saturday, March 7th 2015 - 07:37 UTC
February inflation in Brazil at 7.7% is at its highest level since May 2005

Inflation jumped in Brazil on February with price increases hitting an annual rate of 7.7%, the highest in nearly nine years, officials said on Friday. The national statistics institute IBGE said prices rose 1.22% in February, pushing inflation well above the government's target ceiling of 6.5%.
Friday, March 6th 2015 - 22:08 UTC
Falklands oil drilling campaign takes off with spudding on the Zebedee prospect

Premier Oil spudded its first 2015 Falklands drilling campaign well, 14/15-5, using the Eirik Raude semisubmersible drilling rig on the Zebedee prospect on 6 March. The well, on license PL004b, will test a total of seven stacked fan bodies with varying geological chances of success (GCoS) of 9-52%.
Friday, March 6th 2015 - 18:25 UTC
ECB stimuli bond-purchase to begin next Monday, announces Dragui

Following a meeting of the European Central Bank's rate-setting Governing Council in Cyprus on Thursday, ECB president Mario Draghi said the bank would start buying sovereign bonds from Euro zone countries on Monday next week.
Friday, March 6th 2015 - 18:21 UTC
China lowers 2015 growth estimate to 7%; in 2014 expansion was the slowest in 24 years

Shares in China fell after the country's government set its official growth target at 7% for this year. The rate is lower than last year's target of 7.5%, which China missed after it grew at the slowest pace in 24 years. The Shanghai Composite closed down 1% at 3,248.48, while Hong Kong's Hang Seng ended 1.1% lower at 24,193.04.
Friday, March 6th 2015 - 09:06 UTC
Mercosur has failed, Argentina needs new partners: the Pacific Alliance?

“Mercosur as a unified space has failed and Argentina must start thinking in a new partner, which could be the Pacific Alliance” said one of Argentina's main businessmen with interests in a diversified portfolio, Eduardo Eurnekian. He made the statement on the sidelines of the World's Chambers Federation executive board meeting in Buenos Aires.
Friday, March 6th 2015 - 08:48 UTC
Argentine farmers and government clash over next week's three day walkout

Argentine farmer organizations lashed back at Agriculture minister Carlos Casaquimela who questioned a three-day strike announced for next week to protest government policies, and which he described as 'unjustifiable'.
Friday, March 6th 2015 - 08:44 UTC
The Brazilian currency slides past three to the dollar, fist time since 2004

Brazil's currency, the Real slid past three to the dollar (3.01) for the first time in 10 years on Thursday, in the latest sign of weakness of Latin America's largest economy.
Friday, March 6th 2015 - 07:42 UTC
UK and Mexico sign memorandum to further expand and finance trade

The UK and Mexico signed in London a memorandum to further support trade and markets, and advance cooperation between the two countries export promotion organizations, UK Export Finance and Bancomext, Mexican Trade Development Bank.
Friday, March 6th 2015 - 07:32 UTC
PM Cameron and Peña Nieto discuss agenda of bilateral and global issues

British Prime Minister David Cameron welcomed President Peña Nieto of Mexico to Downing Street on Thursday afternoon as part of his State Visit to the UK.
Friday, March 6th 2015 - 07:22 UTC
Argentina denies any devaluation to compensate for the plunge of Brazil's Real

Despite Brazil's 'violent devaluation' of its currency, Argentina will not pursue the same path because the country needs “to give certainty” and “avoid instability” said Economy minister Axel Kicillof. This week the Real plunged to its lowest level in over a decade burdened by economic and political uncertainty