Economy

Monday, November 17th 2014 - 06:50 UTC
IEA says oil supplies may not keep up with demand

Despite what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades.
Monday, November 17th 2014 - 06:34 UTC
Top Gibraltar delegation after trade and political contacts in US

Gibraltar Chief Minister Fabian Picardo and Deputy Chief Minister Dr Joseph Garcia are in Washington DC for a series of commercial and political meetings, which took off at the US Chamber of Commerce building in order to support the formal accreditation of AmCham Gibraltar.
Monday, November 17th 2014 - 06:06 UTC
UK will not support World Bank loans to Argentina; British public opinion against such aid

The United Kingdom contributions mostly through World Bank loans and aid to Argentina have again been questioned in Britain with demands on Prime Minister David Cameron to block British taxpayers cash going to the country which has 'precarious finances' and a long standing demand over the Falkland Islands sovereignty.
Saturday, November 15th 2014 - 08:04 UTC
Stats bash Roussef: Brazil lost jobs in October for the first time since 1999

Brazil lost jobs in October for the first time in at least 15 years, revealing the delicate state of the economy ahead of potential tax hikes and government austerity. Labor Ministry data showed on Friday that Latin America's largest economy unexpectedly trimmed 30,283 net payroll jobs in the tenth month of the year, the worst reading for the month since the data series began in 1999.
Saturday, November 15th 2014 - 07:59 UTC
Argentine inflation: make your pick, in October anywhere from 1.2% to 2.3%

A reliable universally accepted rate of inflation in Argentina seems hard to come by although there are a battery of estimates, each of them arguing they are supported by statistically proven methods and thus the certainty of the indexes released.
Friday, November 14th 2014 - 07:27 UTC
Falklands accepts Premier's 'realistic solution' to current world oil price environment

The Falkland Islands Government said on Thursday it took notice of the announcement by Premier Oil of their revised proposal for commercial oil production in the Falkland Islands, which “it is considered represents a realistic solution to progress development in the current international oil price environment”.
Friday, November 14th 2014 - 07:13 UTC
Early signs of a pullback in drilling activity

With oil prices low and showing no sign of an immediate rebound, the industry is beginning to pull back on spending. Oil prices have dropped around 30% since summer highs, raising fears among producers across the globe.
Thursday, November 13th 2014 - 05:50 UTC
Standard Chartered will close 100 branches in Asia, Africa and Middle East

Standard Chartered will close up to 100 bank branches next year in Asia, Africa and the Middle East in an attempt to improve its profitability. The UK bank plans to cut about 8% of its global network of more than 1,200 branches to save $400m (£251m) a year.
Thursday, November 13th 2014 - 05:44 UTC
Crude price falls to a three year low, created by shale boom and Libya restart

West Texas Intermediate, WTI crude closed at a three-year low on Wednesday with prices under pressure from the growing oil glut created by the U.S. shale boom and the restart of Libya's largest operational oilfield.
Wednesday, November 12th 2014 - 07:10 UTC
World largest offshore drilling fleet admits slowdown in oversupplied rig market

Transocean Ltd, the owner of the world's largest offshore drilling fleet, said it was likely to retire additional rigs as the company continued to face pressure due to slowdown in an oversupplied rig market.