Economy

• Thursday, December 18th 2014 - 21:00 UTC

  Brazil's trade balance to benefit from oil price drop

  

  Central Bank President Alexandre Tombini sees the bright side of the international trend that is causing many others a headache, because the country is a net petroleum importer.

• Wednesday, December 17th 2014 - 13:19 UTC

  Brazilian economy remains flat with similar forecast for 2015

  

  Brazil's economy contracted 0.26% in October, ending a three-month growth streak and coming in below analysts' expectations of a 0.30% expansion, reported the Central Bank.

• Wednesday, December 17th 2014 - 13:11 UTC

  US Court of Appeals will hear Argentine case on assets disclosure

  

  US Court of Appeals for the Second Circuit in Manhattan this Wednesday morning will hear Argentina’s appeal against US Judge Thomas Griesa’s order to Argentine banks to provide information on the state’s assets.

• Wednesday, December 17th 2014 - 12:59 UTC

  Uruguay receives IDB credit to boost investment in renewable energies

  

  As part of Uruguay long term plan to promote investment in infrastructure and finance investment in electric power plants using renewable energy resources, essentially wind and solar so as to diversify the country energy mix and cut CO2 emissions, the country will be receiving a 250 million dollar credit line from the Inter American Development Bank, IDB.

• Wednesday, December 17th 2014 - 12:40 UTC

  FAO forecasts record world cereal production buoyed by bumper crops in Europe and US

  

  Latest indications confirm that world cereal production will reach an all-time record of more than 2.5 billion tonnes in 2014. Buoyed by bumper crops in Europe and a record maize output in the United States this year's cereal output should reach 2.532 billion tonnes, including rice in milled terms, or 0.3% higher than 2013, according to FAO's latest Crop Prospects and Food Situation Report.

• Wednesday, December 17th 2014 - 12:22 UTC

  Latin America exports stagnant for third year running, says IDB

  

  Exports from Latin America will drop by about 1.4% in 2014, the first decline in exports since the collapse of international commerce during the 2009 financial crisis, according to a study by the Inter-American Development Bank (IDB).

• Wednesday, December 17th 2014 - 00:53 UTC

  Brazil's real sinks against US dollar to lowest rate in 10 years

  

  The currency closed at R$ 2.76 per US$ 1 dollar. Domestic politics, international oil prices, US Fed measures and Russian ruble drop to blame.

• Saturday, December 13th 2014 - 04:37 UTC

  Brazil confident since pre-salt oil is profitable 'even at 60 dollars a barrel'

  

  The head of Brazil's National Petroleum Agency, Magda Chambriard said that the country's oil production projects remain 'robust' even as international prices for crude continue to tumble. She underlined that the pre-salt projects of Brazil along ist coast resist prices as low as 60 dollars a barrel.

• Saturday, December 13th 2014 - 04:07 UTC

  Argentina purchases four Russian multipurpose polar Supply-class tugs

  

  Argentina's ministry of Defense has signed an agreement for the purchase of four Russian-built multipurpose polar tugs, class NEFTEGAZ, at a total cost of just over eight million dollars.

• Friday, December 12th 2014 - 21:49 UTC

  Dutch oil platform leasing company cutting 11% of global workforce

  

  Dutch oil platform leasing company SBM Offshore is cutting 1,200 jobs, or slightly more than 11% of its global workforce, as part of a cost-saving program.