Economy

Thursday, April 2nd 2015 - 07:31 UTC
Brazil oil industry wants new auction rights rules and more efficient sourcing requirements

The Brazilian Petroleum Institute, or IBP, has called on the government to change the regulatory framework to deal with the crisis caused by the collapse of oil prices and the corruption scandal at state-controlled oil giant Petrobras.
Thursday, April 2nd 2015 - 07:27 UTC
Rousseff “we will do whatever it takes to meet 2015 fiscal target”

Brazil's government will do whatever it takes to meet its 2015 fiscal target, President Dilma Rousseff said on Tuesday in an interview with Bloomberg News.
Wednesday, April 1st 2015 - 08:05 UTC
Public-private partnership to rehabilitate Uruguay's most transited highways

Spanish construction company Sacyr joined Uruguay's Grinor in a consortium bidding for a contract to recover and maintain highways in the Mercosur member country.
Wednesday, April 1st 2015 - 07:45 UTC
Cristina Fernandez lashes out at unions for the 24-hour strike that brought Argentina to a halt

President Cristina Fernandez fiercely criticized the trade union leaders behind Tuesday's 24-hour general strike, which brought Argentina to a halt, arguing that adhesion to the measure would have been far lower if public transport had functioned as normal.
Wednesday, April 1st 2015 - 07:25 UTC
Clearstream stops settlement on all Argentine bonds; asks clarification from government

Following the CNV securities regulator’s decision to suspend Citibank Argentina from its custody business in the country, Clearstream said in a press release it stopped settlement on all Argentine bonds, and will re-open for non-exchange bonds if it gets clarification.
Wednesday, April 1st 2015 - 06:21 UTC
Fiscal imbalances and higher financial risks ahead for Latin America warns IDB

Most Latin American and Caribbean countries need to make budget adjustments in the face of rising fiscal imbalances and higher financial risks, according to the Inter-American Development Bank’s annual macroeconomic report issued this week.
Tuesday, March 31st 2015 - 12:08 UTC
Brazil's development bank admits losses of 800m dollars on Petrobras stock

Brazil's state-run National Development Bank posted healthy profits Monday, but indicated losses of some 800 million dollars on its stock in Petrobras, whose market value has plunged on a graft scandal and lower oil prices.
Tuesday, March 31st 2015 - 10:13 UTC
Brazil ready to join China's Asian Investment bank; (Argentina any moment)

The Asian Infrastructure Investment Bank, AIIB, seen as a challenge to existing institutions the World Bank and Asian Development Bank, has drawn a cool response from the United States, despite which European U.S. allies including Britain, France, Germany and Italy have already announced they would join the bank.
Tuesday, March 31st 2015 - 05:44 UTC
Unions bring Argentina to a halt over income tax and promise more industrial action

Argentine Labor unions will carry out more strikes after a 24-hour walkout Tuesday, if the government doesn’t heed their demand for less tax pressure, a union leader said on Monday.“The measures of force are going to increase if (the government) continues with the provocations and without giving us a response to our demands,” trucker union boss Pablo Moyano said to a local radio station.
Monday, March 30th 2015 - 10:32 UTC
US economic growth cools in the fourth quarter and profits take a hit from strong dollar

US economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits took a hit from a strong dollar, which could undermine future business spending. GDP expanded at a 2.2% annual rate, the Commerce Department said on Friday in its third estimate of GDP. That was unrevised from the forecast the government published last month.