Economy

Thursday, July 3rd 2014 - 06:45 UTC
Argentine squid industry concerned with a significant drop in prices

A significant decline in catches of squid (Illex argentinus) in Argentine waters at the end of the season, has forced the return to port of several Argentine flagged jiggers, according to a report this week from the country's Coast Guard station in Mar del Plata.
Thursday, July 3rd 2014 - 06:40 UTC
Brazilian industry contracts for the third month running in May

Brazilian industrial output fell for the third straight month in May despite efforts from government to prop manufacturing through stimulus measures. Industrial production in Brazil fell 0.6% in May from April, and 3.2% from the same month a year ago, and 1.6% in the five months of 2014, government statistics agency IBGE said on Wednesday.
Thursday, July 3rd 2014 - 06:26 UTC
Roubini warns about negative consequences from the Argentine case

The economist famous for predicting the 2008 financial crisis has analyzed Argentina’s current dispute against vulture funds warning “holdouts must not be permitted to block orderly restructurings that benefit debtors and creditors.”
Thursday, July 3rd 2014 - 06:17 UTC
Hedge funds challenge Kicillof to meet them on Thursday in Washington

The NML Capital hedge fund is ready to meet and negotiate directly with Argentine Economy minister Axel Kicillof and is willing to do so on Thursday, according to a top-ranking executive of the hedge fund involved in a long standing litigation with the Argentine government over defaulted debt.
Wednesday, July 2nd 2014 - 23:51 UTC
Argentina loses trade restrictions case at WTO, says Brazilian financial media

The World Trade Organization has ruled that a swath of import regulations imposed by Argentina violate international trade rules, according to the Buenos Aires media quoting diplomatic sources and Brazil's financial press. The ruling favors 43 countries those two years ago claimed Argentina had imposed trade barriers.
Wednesday, July 2nd 2014 - 07:53 UTC
“Vulture funds not interested in negotiations” claims Minister Kicillof

“Vulture funds are not interested in negotiations”, and all they want is “to get hold of the money for re-structured bonds holders”, said Argentina's Ministry of Economy in a release made public late Tuesday, the last exchange on the ongoing battle in a New York court with holdout hedge funds.
Wednesday, July 2nd 2014 - 07:45 UTC
Main French bank agrees to 9bn dollars settlement with US prosecutors

France's largest bank, BNP Paribas, has agreed to a record 9bn dollars settlement with US prosecutors over allegations of sanctions violations. As part of the deal, the bank will plead guilty to two criminal charges of breaking US sanctions against trade with Sudan, Iran and Cuba.
Wednesday, July 2nd 2014 - 07:27 UTC
Two decades of the Real, the currency that helped Brazil trust financial stability

Twenty years ago, first July 1994, after decades of financial turmoil, Brazil introduced its current currency, the Real, marking a turning point in the country's fight against hyperinflation.
Wednesday, July 2nd 2014 - 07:17 UTC
Falklands mints £2 coin to mark centenary of 1914 Battle of the Falkland Islands

The Falkland Islands Government have minted a new circulatory £2 coin, to mark the Centenary of the Battle of the Falkland Islands in 1914.
Wednesday, July 2nd 2014 - 00:13 UTC
Data confirms Argentina's economy has slid into recession

Argentina’s economic activity index (EMAE), which is seen as a close proxy of GDP, fell 0.5% in April compared with the same month last year, according to data released by the government's stats office Indec. Nonetheless activity went up 0.6% in April compared to March.