Economy

Wednesday, November 5th 2014 - 06:43 UTC
The end of an era: Is the US petrodollar under threat?

Recent trade deals and high-level cooperation between Russia and China have set off alarm bells in the West as policymakers and oil and gas executives watch the balance of power in global energy markets shift to the East.
Wednesday, November 5th 2014 - 05:16 UTC
Chile chosen by World Bank for Latam’s first Research and Development Center

Chile’s Finance Ministry Alberto Arenas, and the World Bank Group (WBG), represented by its Vice President for Latin America and the Caribbean, Jorge Familiar, signed a cooperation agreement to establish in Chile the first Research and Development Center in Latin America, and the second outside Washington, DC.
Wednesday, November 5th 2014 - 04:06 UTC
“Mercosur and Pacific Alliance are not contradictory competing blocks”

Mercosur and the Pacific Alliance are not contradictory competing blocks, and can advance towards a mutually beneficial convergence, said Chile's Economy minister Luis Felipe Cespedes during a trade and investment promotion seminar in Brazil.
Wednesday, November 5th 2014 - 03:43 UTC
Argentina appeals Judge Griesa's 'contempt of court' ruling

Argentina on Monday asked the Second Circuit Court of Appeals to overturn a federal judge’s finding that it is in contempt of court for taking steps to evade his orders that bondholders who agreed to debt restructurings can only be paid if holdout hedge funds are also compensated.
Wednesday, November 5th 2014 - 03:34 UTC
Scottish minister explores fisheries and trade opportunities in Chile

Scottish Minister for Environment and Climate Change Paul Wheelhouse visited Puerto Montt and Santiago to strengthen links with Chile on fisheries and climate change. Chile and Scotland have two of the largest global aquaculture industries.
Tuesday, November 4th 2014 - 09:22 UTC
Brazil with the largest trade deficit for October in 16 years

Brazil ran a trade deficit of 1.17 billion last month, the largest shortfall for October in 16 years, the government said on Monday. Imports totaled 19.5bn, while exports amounted to 18.3bn, the Ministry of Development, Industry and Foreign Trade said in a report.
Tuesday, November 4th 2014 - 05:05 UTC
Falklands have a per capita GDP “ten times higher than Argentina”

Argentina's financial daily, El Cronista Comercial has published two articles on the Falkland Islands based on data from the 2014 Statistical Yearbook stating that the Islands enjoy a GDP per capita several times higher than Argentina and that the economy has been expanding at 11% annually since 2008.
Tuesday, November 4th 2014 - 04:53 UTC
Bankers' names for Finance minister in Rousseff's next government

Brazilian banker Luiz Carlos Trabuco Cappi, president of Bradesco, turned down an invitation from president Dilma Rousseff to occupy the Finance ministry as of next January first. According to the Sao Paulo financial publication Valor, there was no insistence on the issue from political sources.
Monday, November 3rd 2014 - 08:59 UTC
Brazil and Uruguay agree to bilateral trade in local currencies

Brazil and Uruguay as of next December will be able to use local currencies in bilateral trade, disregarding appealing to US dollars, based on the agreement signed last Friday between the central bank presidents of the two countries, Alexandre Tombini (Brazil) and Alberto Graña (Uruguay).
Monday, November 3rd 2014 - 08:41 UTC
Pacific Alliance and Mercosur agree to continue discussions in Chile

Mercosur and Pacific Alliance foreign affairs ministers met this weekend in Colombia for a first round of talks on integration mechanisms and the potential for specific alliances. The idea of the meeting was first launched by Chile with the purpose of a 'convergence' of interests and a possible future integration.