Economy

Friday, February 20th 2015 - 05:00 UTC
Negative inflation in France adds to Euro-zone stagnation and deflation fears

Inflation in France, the Euro zone's second-biggest economy, was negative in January for the first time in more than five years, the national statistics agency said on Thursday.Prices declined by 0.4% in January compared to the same month last year, INSEE said, noting that France has not seen negative inflation since October 2009.
Friday, February 20th 2015 - 04:34 UTC
Fed latest minutes indicate “patience” prevails before a rise in interest rates

Officials at the United States Federal Reserve are unlikely to raise interest rates soon, the latest minutes from the bank's January meeting have revealed. Policymakers worried about lower-than-expected inflation as well as slow wage growth in the US economy, the world's largest.
Thursday, February 19th 2015 - 06:02 UTC
GeoPark scales down operations in Magallanes because of falling oil prices

Oil company GeoPark which operates in Magallanes, extreme south of Chile, reiterated its commitment and long term investment in the region but also announced the redundancy of 30 staff, first time in twelve years, because of a restructuring of the company to the new global oil industry scenario.
Thursday, February 19th 2015 - 05:57 UTC
Colombia's Ecopetrol slashes offshore exploration budget

Colombia's state-run oil producer Ecopetrol will drill three offshore wells this year, two off its Caribbean Coast and a third in the Gulf of Mexico, after slashing its offshore exploration budget to 200 million dollars down from 632 million last year, the company said.
Thursday, February 19th 2015 - 05:44 UTC
HSBC Swiss office searched by Geneva prosectuor; second probe in a week

Geneva's public prosecutor searched HSBC's lakeside Swiss office on Wednesday after opening a criminal inquiry into allegations of aggravated money laundering, the second probe to hit the bank this week.
Thursday, February 19th 2015 - 05:23 UTC
Levy tells US investors Brazil is on track to correct the fiscal slippage

The government of President Dilma Rousseff is working to meet its primary budget surplus goal of 1.2% of GDP in 2015, pledged Finance minister Joaquim Levy on Wednesday to an audience of investors in New York.
Wednesday, February 18th 2015 - 19:28 UTC
Canada identifies origin of mad cow disease case; Korea bans Canadian beef

The Canadian Cattlemen’s Association says a beef breeding cow found with mad cow disease on an Alberta farm was born in the province at a different farm. Association spokesman John Masswohl says the Canadian Food Inspection Agency identified the birth farm. It is the first case reported since 2011. South Korea announced it was banning Canadian beef.
Wednesday, February 18th 2015 - 04:28 UTC
Venezuela ready to address fuel prices: “piece of candy cannot cost more than a liter of gasoline”

Venezuelan Finance minister Rodolfo Marco Torre announced that ”soon there will be important announcements on the issue of gasoline”, underlining that “a piece of candy cannot cost more than a liter of gasoline”.
Wednesday, February 18th 2015 - 03:56 UTC
Brazil's corn and soybean crops flattening out influenced by climate conditions

Brazil's sowings of safrinha corn are to fall for the first time in seven years, Conab (National Supply Co.) said, cutting its forecast for the country's overall production of the grain, and lowering hopes for the soybean harvest too.
Tuesday, February 17th 2015 - 19:30 UTC
“EU tired of waiting” for Mercosur to sign a trade agreement; Paraguay a trusted partner

The European Union is tired of waiting for Mercosur to sign a free trade agreement, according to a delegation of Euro members of Parliament visiting Paraguay, a country which they consider a trusted 'ally' in trying to establish closer links with Europe.