Economy

• Friday, July 11th 2014 - 22:28 UTC

  Falklands: Premier looking for a partner to develop the 5bn Sea Lion project

  

  Premier Oil Plc newly appointed Chief Executive Officer Tony Durrant said that one of his priorities is to find a partner to share the 5bn dollar investment to develop the Sea Lion project off the Falkland Islands, because it does not want to become a 'pure Falkland Islands company in five years time'.

• Friday, July 11th 2014 - 06:36 UTC

  Brazil's next government will have to implement a tough fiscal tightening, says Fitch

  

  Fitch Ratings on Thursday reaffirmed Brazil's “BBB” credit rating with a stable outlook, but added it expects the next government to control spending in order to avoid additional fiscal deterioration that could trigger a downgrade.

• Friday, July 11th 2014 - 06:19 UTC

  JP Morgan requests 'clarification' from Judge Griesa to pay Japanese bondholders

  

  JP Morgan bank, the entity responsible for the payment to Argentina's Japanese bondholders has sent a letter to US Federal Judge Thomas Griesa, requesting “a clarification” in order to deliver the funds to the nation's creditors.

• Friday, July 11th 2014 - 06:14 UTC

  Pollack says Argentina, hold-outs and legal representatives will meet on Friday

  

  Special master Daniel Pollack revealed on Thursday he has been talking with holdout funds and Argentine lawyers “on a daily basis”, one day before an Economy Ministry committee travels to New York to meet the mediator in the funds/Argentina litigation case for the second time.

• Friday, July 11th 2014 - 01:37 UTC

  Uruguay central bank admits inflation remains the main concern and pledges monetary contraction

  

  Uruguay's Central bank confirmed that inflation remains the leading challenge and ratified the current monetary contractive policy with the M1 money supply index converging to 8% from its current 10.4%, in a 'not too distant horizon'.

• Thursday, July 10th 2014 - 21:48 UTC

  Fed will end asset purchases in October, but no decision yet on interest rates

  

  The Federal Reserve has begun detailing how it plans to ease the US economy out of an era of loose monetary policy, indicating it will end its asset purchases in October and appearing near agreement on a plan to manage interest rates in the future, according to minutes of the last Fed policy meeting.

• Wednesday, July 9th 2014 - 08:21 UTC

  Kicillof blasts holdouts: “they never negotiated or lent money to Argentina”

  

  Argentine Economy minister Axel Kicillof responded fiercely to criticisms directed at him and the Argentine government by Elliott Management portfolio manager Jay Newman, reminding the representative of the holdout investors that they have never lent a cent to Argentina.

• Wednesday, July 9th 2014 - 08:14 UTC

  Mediator Pollack will receive Argentine delegation Friday in follow up meeting

  

  Argentina confirmed on Tuesday that the delegation headed by Economy Minister Axel Kicillof will continue talks with mediation Daniel Pollack, next Friday in New York, a 'follow up' of Monday's first appointment.

• Wednesday, July 9th 2014 - 08:04 UTC

  Gibraltar with port fee and re-fuelling discounts to attract cruise business

  

  Neil Costa, Gibraltar Minister for Tourism, Commercial Affairs, Public Transport and the Port, has welcomed the introduction of new port fee discounts and said they will further enhance the competitiveness of the Port of Gibraltar.

• Wednesday, July 9th 2014 - 07:50 UTC

  Chile fisheries landings in five months total 1.6 million tons, up 24%

  

  Chile's accumulated fisheries landings during the first five months of the year totaled 1.6 million tons, up 24% from the five months of 2013, when 1.3 million tons were landed.