Economy

Thursday, August 14th 2014 - 05:41 UTC
US Nevada court grants 'holdouts' discovery rights into assets of Kirchner family friends

The hedge fund Elliott Management secured a victory on Tuesday in its pursuit of Argentine assets abroad, as a court in the US state of Nevada granted the corporation discovery rights to 123 companies allegedly linked to the Santa Cruz public works tycoon Lazaro Baez, and believed to be closely linked to the Kirchner family.
Wednesday, August 13th 2014 - 22:29 UTC
Majority of Argentines fear consequences of the default and favor continuing negotiations

A majority of the Argentine electorate is pessimistic about the consequences of the 'selective default' on the economy, but considers that negotiations with the 'holdouts' must continue, according to a public opinion poll from Poliarquia which also showed that support for president Cristina Fernandez has fallen during the last month.
Wednesday, August 13th 2014 - 07:09 UTC
Brazil admits EU/Mercosur deal stalled because of European concerns about agriculture

Brazil's agricultural competitiveness is a concern to countries and trade blocks negotiating agreements with Brazil, according to ambassador Paulo Estivallet de Mesquita, head of the Economics Department of the country's Ministry of Foreign Relations (MRE).
Wednesday, August 13th 2014 - 06:57 UTC
“Homeland or Vultures” militants rally in support of Cristina Fernandez

Thousands of Argentine pro government activists gathered at the Luna Park stadium in Buenos Aires City, to express their support in favor of President Cristina Fernández stand against the so called holdouts (or 'vulture funds') as well as her continuity at the head of the Kirchnerite project.
Wednesday, August 13th 2014 - 06:23 UTC
Spain celebrates as 'excellent' the latest EC fisheries TACs and quotas awarded

The head of the Ministry of Food and Environment (Magrama), Miguel Arias Cañete, highlighted the ”excellent results achieved by Spain in negotiating total allowable catches (TACs) and quotas for 2014.”
Tuesday, August 12th 2014 - 05:44 UTC
Brazilian government anticipates 6% hike in fuel prices, after October election

Brazilian president Dilma Rousseff admitted on Monday the government could increase domestic fuel prices at refineries by up to 6% after the October presidential election. The increase of 5.5% and 6% is a preliminary calculation and is geared to help prop the finances of the government managed oil and gas giant Petrobras.
Monday, August 11th 2014 - 22:24 UTC
Global economic recovery remains 'disappointing' says Fed's Vice Chairman

US Federal Reserve Board Vice Chairman Stanley Fischer said that the economic recovery has been and remains “disappointing” and made it clear that he expects monetary policy to continue to play a significant role in encouraging growth in the future.
Monday, August 11th 2014 - 22:19 UTC
Leading economies showing overall steady growth trend, says OECD

Leading economies are showing a steady growth trend overall, although Britain is doing particularly well and Japan and Germany are showing signs of losing pace, the OECD (Organization for Economic Cooperation and Development) said on Monday.
Monday, August 11th 2014 - 09:40 UTC
FAO July Food Price Index at its lowest level since January 2014

The FAO Food Price Index averaged 203.9 points in July 2014, down 4.4 points (2.1 percent) from a revised value in June and 3.5 points (1.7 percent) below July 2013. While meat prices rose for the fifth consecutive month and sugar remained firm, sharp declines in grains, oilseeds and dairy quotations pushed down the FAO Food Price Index to its lowest level since January 2014.
Monday, August 11th 2014 - 08:11 UTC
Brazil oil output at record 2.246m bpd in June: 6.9% higher over a year ago

Brazilian oil output reached a record 2.246 million barrels per day (bpd) in June and exceeded the previous record of 2.231 million bpd in January 2012, the National Agency of Petroleum (ANP) reported. Output is up 2.6% from May 2014 and 6.9% June on June.