Economy

• Friday, October 3rd 2014 - 07:47 UTC

  Falklands approves 80 room portable hotel ahead of the coming oil drilling season

  

  The first sign of oil industry impact on the face of the Falkland Islands capital, Stanley is in the offing with the planning approval given for an 80 room portable hotel near The Trough.

• Friday, October 3rd 2014 - 07:36 UTC

  Brazil private sector wants to help Argentina in the dispute with 'holdouts'

  

  According to Argentina's leading and most influential financial newspaper, Ambito Financiero, Brazil, via the private sector could come to the rescue of Argentina in its ongoing dispute with the speculative funds in the New York court presided by Judge Thomas Griesa.

• Friday, October 3rd 2014 - 07:23 UTC

  Argentina: Vanoli meets Cristina Fernandez and begins working at the central bank

  

  In his first activity since his designation as the new chief of the Argentine Central Bank, Alejandro Vanoli met on Thursday President Cristina Fernandez and Economy Minister Axel Kicillof in Olivos.

• Friday, October 3rd 2014 - 07:17 UTC

  Buenos Aires stock market plunges 7.2%, and the US dollar recedes slightly

  

  The day after Argentina's central bank governor Juan Carlos Fabrega stepped down, investors expressed their pessimism as Buenos Aires City stock market, Merval, which plunged 7.2% to 10,703.32 points on Thursday.

• Friday, October 3rd 2014 - 06:59 UTC

  ECB announces two-year plan to purchase covered bonds and inject liquidity

  

  The European Central Bank has kept its benchmark interest rate at 0.05% and given details of its asset purchase program announced last month. The bank's head Mario Draghi said it would start buying covered bonds this month and other assets in the final three months of the year. This would go on for two years.

• Friday, October 3rd 2014 - 06:20 UTC

  The Argentine economy: “Thumbs down” writes The Economist

  

  Those baffled by the Argentine economy could do worse than listen to Puff Daddy. Ask what ails the country and the answer will echo the rapper’s ode to the 100-dollar bill, “It’s all about the Benjamins”.

• Thursday, October 2nd 2014 - 07:31 UTC

  Argentina's new central bank president: a blend of Keynes with strong government intervention

  

  Alejandro Vanoli, the designated new President of the Argentine Central Bank following Juan Carlos Fabrega’s resignation, is the current leader of the CNV securities regulator, in charge of that entity since 2009 after serving for three years as its deputy.

• Thursday, October 2nd 2014 - 07:24 UTC

  Buenos Aires shares plunge 8.2%; US dollar trades cautiously fearing raids

  

  Buenos Aires shares plunged on Wednesday 8.2% to 11.516,28 units following the news that the Central Bank chief Juan Carlos Fabrega had resigned. The Merval benchmark stock index has risen 132% so far this year.

• Thursday, October 2nd 2014 - 07:15 UTC

  Climbing volatility of the US dollar in Argentina forces resignation of central bank president

  

  Argentine Central Bank President Juan Carlos Fabrega resigned Wednesday after an alleged disagreement with President Cristina Fernandez over how to keep a lid on the black market exchange rate ('blue' dollar) that hit a record 16 pesos per dollar last week.

• Thursday, October 2nd 2014 - 07:06 UTC

  Uruguay's fiscal deficit 'relatively' stable at 3.3% of GDP

  

  Uruguay's fiscal deficit in the twelve months to August was equivalent to 3.3% of GDP, or 1.725bn dollars according to the latest release from the Economy and Finance ministry. However the primary deficit (before debt payments) was 202 million dollars or 0.39% of GDP.