Economy

Friday, May 9th 2014 - 07:20 UTC
The 'indigence' basic food basket in Argentina climbed 40% in 12 months

An average Argentine family during the month of April needed 4.779 Pesos (approx. 600 dollars) not to be included in the poverty category, which represents an increase of 1.6% over March, of 20% in the first four months of the year and 40.5% in the last twelve months, according to the latest report from the Latin American Economic Research Foundation, FIEL.
Friday, May 9th 2014 - 07:11 UTC
Holdout bondholders tell US Supreme Court Argentina's case is “undeserving of review”

Holders of Argentine sovereign debt this week asked the U.S. Supreme Court not to hear that country's appeal of lower court decisions ordering it to pay them 1.33 billion dollars in a case Argentine officials warn could force it to default on its sovereign debt.
Friday, May 9th 2014 - 07:01 UTC
Repsol/YPF 'marriage' definitively over; Spanish company ends 15-year presence in Argentina

Spanish oil major Repsol signed a definitive settlement agreement Thursday with Argentine President Cristina Fernandez's administration, which transferred more than 5 billion dollars in bonds as compensation for the 2012 seizure of Repsol's controlling stake in energy firm YPF.
Friday, May 9th 2014 - 06:47 UTC
Brazil says Mercosur/EU to meet in Brussels at the end of May for trade talks

At the end of May Mercosur will be ready to exchange tariff-reduction proposals with the European Union, announced Brazilian Industry minister Mauro Borges who also anticipated the trade block would be holding a preparatory meeting next week in Caracas, Venezuela.
Friday, May 9th 2014 - 06:42 UTC
Fed in no rush to address its balance sheet; calls on Senate for fiscal restraint

The US Federal Reserve is in no rush to decide the appropriate size of its balance sheet, but if it ultimately shrinks it to a pre-crisis size, the process could take the better part of a decade, Fed Chair Janet Yellen has said.
Thursday, May 8th 2014 - 04:34 UTC
Grim outlook for Argentine industry according to auto industry and Moody's

An estimated 12.000 workers from the auto industry and auto-parts manufacturing have been sent home on anticipated vacations or because of lesser working days, according to the mechanics union SMATA, a figure consistent with the level of domestic market sales and exports. However the industry leaders and unions have warned that the situation is set to worsen in coming months.
Thursday, May 8th 2014 - 04:30 UTC
Argentine manufacturers send a strong disappointment message to government

The Argentine Industrial Union, UIA, the country's manufacturers strongest lobby released the results of a poll on Wednesday warning about the lower level of economic activity expected this year. The poll covered 300 corporations belonging to the organization and forecasts no jobs creation and abundant layoffs.
Wednesday, May 7th 2014 - 01:44 UTC
Falklands: Slow start but sprint finish for 2014 squid fishery

In the last 25 years, the squid fishery has been one of the major contributors to the economy of the Falkland Islands. It is unique in the world as about 80 per cent of the total annual catch is squid. Both Illex and Loligo squid have annual life cycles, with a new generation recruiting into the fishery every year
Tuesday, May 6th 2014 - 07:49 UTC
Argentines pessimistic about jobs, household income and mid-term prospects

A pessimistic mood has taken over in Argentina, according to a recent public opinion poll and report on jobs, household income, and mid-term prospects, according to the latest economic expectations index, IGEE from the Catholic University supported by pollster TNS-Gallup.
Tuesday, May 6th 2014 - 06:19 UTC
Uruguay's inflation index down 0.06% in April; four-month index 4.68%

Uruguay's inflation index was down 0.06% during April with the annual index standing at 9.18% and 4.68% in the first four months of the year, according to the latest release from the country's stats office, INE.