Economy

• Thursday, December 4th 2014 - 05:51 UTC

  Falling oil prices comes as a blessing for dollar-short Argentina

  

  The slump in global oil prices will reduce Argentina's energy import bill by several billion dollars, a development that could ease pressure on the Central Bank’s strained foreign-currency reserves, according to Economy minister Axel Kicillof.

• Thursday, December 4th 2014 - 05:28 UTC

  UK to tax multinationals that siphon profits into low-tax havens

  

  Britain plans to introduce a tax to target multinationals such as Google and Amazon accused of using complex accounting schemes to cut their payments on earnings in the country.

• Thursday, December 4th 2014 - 05:09 UTC

  Rousseff promises JPMorgan investors a balanced budget and full support of Levy

  

  President Dilma Rousseff said in a letter to investors that one of the main priorities of her second term will be to put Brazil's fiscal accounts in order, sending a strong message that her administration will adopt more market-friendly policies.

• Thursday, December 4th 2014 - 05:03 UTC

  Brazil raised the basic interest rate 50 basic points to 11.75%

  

  Brazil's central bank on Wednesday raised its key interest rate by 50 basis points to 11.75%. The rise came on the back of a one quarter point rise just over a month ago which was the first since April and in the wake of populist Dilma Rousseff's re-election as president, who last week appointed a new finance team to tackle rising inflation.

• Thursday, December 4th 2014 - 04:54 UTC

  Pacific Alliance integrated stock markets, MILA, begins operations from Mexico

  

  Mexico's stock exchange on Tuesday carried out its first operation as a member of the Latin American Integrated Market, or MILA, which connects it to bourses in Chile, Colombia and Peru, MILA said in a statement. The four countries are members of the Pacific Alliance an open market, pro business and foreign investment group created in 2012.

• Wednesday, December 3rd 2014 - 09:31 UTC

  Analysts anticipate 'painful adjustment' for Uruguay if there is a continuity of current policies

  

  High inflation, relatively weak economic growth and an exhausted growth model are forecasted for Uruguayan president-elect Tabare Vazquez second administration as of next March, according to the latest report from two Capital Economics analysts.

• Wednesday, December 3rd 2014 - 09:25 UTC

  Russian ruble suffers its biggest one day skid since 1998

  

  The Russian ruble suffered on Tuesday its biggest one-day decline since 1998 as oil prices continued to fall on Monday, escalating fears about the Russian economy. The currency slid almost 9% against the dollar before rallying after suspected central bank intervention.

• Wednesday, December 3rd 2014 - 08:32 UTC

  China's factory activity falls faster than expected as the economy keeps cooling

  

  China's factory activity slowed by more than expected in November, highlighting how a cooling economy is impacting its vast manufacturing sector. The official purchasing managers' index (PMI) dipped to 50.3 in November from October's 50.8, closer to the 50 point mark that separates growth from contraction. It was below the 50.6 level expected by economists.

• Wednesday, December 3rd 2014 - 08:06 UTC

  Brazil posts in November its worst trade monthly result in 20 years

  

  Brazil posted a 2.35 billion dollars trade deficit in November, the country's worst monthly result in 20 years, and cementing its slide into the red for the year after a decade of surpluses.

• Wednesday, December 3rd 2014 - 07:48 UTC

  Latam forecasted to grow 2,2% in 2015, but this year will only average 1.1%

  

  Economic growth in Latin America and the Caribbean will recover in 2015 and reach 2.2% on average, according to new estimates unveiled on Tuesday by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).