Economy

Friday, December 12th 2014 - 07:16 UTC
US Congress passes 1.1tn budget which funds government until 09/2015

The US House of Representatives has passed a 1.1tn dollar budget hour before government was due to shut down at midnight on Thursday. The Republican measure passed by 219 votes to 206 after President Barack Obama had urged Democrats to support the measure.
Friday, December 12th 2014 - 07:06 UTC
Brazil hikes soybean harvest estimate by 5.3m to 95.8 million tons

Brazil's commodities bureau, Conab hiked by 5.3 million tons to 95.8 million tons its forecast for the country's soybean crop, reversing the negative trend in harvest forecasts, citing the benefit from rains in some southern areas. The previous estimate for the crop to be harvested early next year was 90.5m tons.
Friday, December 12th 2014 - 06:54 UTC
Record year for Falklands' fish catches

THIS year will be marked as one of the most successful years in the history of the Falkland Islands fishery with several record catches registered and the total catch of all species in Falkland waters this month reaching a record of 451,000 tonnes.
Friday, December 12th 2014 - 06:43 UTC
Switzerland charges former HSBC analyst with industrial espionage

Switzerland has charged a former computer analyst at HSBC's private bank in Geneva with industrial espionage and breaching the country's secrecy laws for passing confidential client data to foreign authorities.
Friday, December 12th 2014 - 06:16 UTC
Financial aid from Brazilian government for scandal-hit Petrobras

Brazil's government is wrapping up a financing plan for Petrobras aimed at ensuring the scandal-hit state-controlled oil giant can obtain the funding it needs for its massive investment program.
Thursday, December 11th 2014 - 12:46 UTC
Falling world oil prices shatter Argentine stocks for second day running

Argentine stocks closed down 6.85% Wednesday, weighted down by falling oil prices for a second day of heavy losses. As oil prices sank to new five-year lows, the Merval stock index in Buenos Aires shed more than 600 points to 8,279.04, after losing 7.22% Tuesday.
Thursday, December 11th 2014 - 12:40 UTC
FAO food price index in November remained stable for third month running

FAO's monthly food price index was stable in November, as vegetable oil and grain prices inched up and offset ongoing declines in dairy prices. The Food Price Index averaged 192.6 points, marking the third consecutive month of stability. The Index now stands 13 points, 6.4 percent below its level in November 2013.
Thursday, December 11th 2014 - 12:04 UTC
Malaysia's Petronas and YPF sign 550 million deal to develop shale deposits in Patagonia

YPF SA and Petroliam Nasional Bhd, state-controlled companies from Argentina and Malaysia, signed a 550 million dollars deal to drill fields at the world’s fourth-largest shale oil deposit in Patagonia’s Vaca Muerta, south Argentina.
Thursday, December 11th 2014 - 11:29 UTC
Argentine argues before NY Appeals court the central bank is not an 'alter ego' of the administration

Lawyers representing the Argentine government and the Central Bank have defended the country's stance on the debt conflict in a hearing with the New York Second Circuit Appeals Court, rejecting the notion that holdout investors could confiscate reserves or assets belonging to the financial entity.
Wednesday, December 10th 2014 - 07:56 UTC
Weaker Latin American currencies against the US dollar next year

Latin American currencies will lose value against the US dollar in 2015 because of the strong US recovery and lower commodities' prices according to Itau-Unibanco, Brazil's largest private bank which also anticipates a strong fiscal adjustment by President Dilma Rousseff's next administration, in an effort to regain investors' 'confidence'.