Overproduction of last year's crops in the U.S. still affect the price in futures trading. Meanwhile farmers is predicted to still harvest a big yield of soybean and corn in 2016.
South/Central America
Retailing Giants Shut Hundreds of Stores Down In US & Elsewhere, Job Cutting Feared
Walmart and Macy’s have announced shutting hundreds of stores on Friday and thus lingers the list with other retailing giants like Sears and Target. Surprising growth of ecommerce has reduced growth of the departmental stores and shopping malls. With the announcement of the World’s largest retailer, traditional stores have been started to witness the blink of extinction.
Economic Emergency In Venezuela Aims To Keep Maduro’s Anti Poverty Programs Alive
Just Prior to the State of Address to the Congress, Venezuelan President Nicolas Maduro has imposed economic emergency for 60 days. The concerned decree is aimed to allocate funds to keep alive the socialist government’s signature anti poverty programs. If opposition led Congress denies the imposed decree, Maduro will have to appeal to the Supreme Court of justice for its continued effectiveness.
Inflation in Argentina at historic high 21%; government targets 5% by 2019
Argentina is struggling from soaring inflation, which is hovering at 21 percent. The inflation rate is expected to reach 25 percent in 2016. The government is targeting to bring it down to five percent by 2019. The soaring prices are forcing consumers to pay everything in installments.
YPF, American Energy Partners sign deals on shale gas
American Energy Partners and Argentina state-run energy company YPF have signed a partnership deal on developing the shale resources in the South American country. Argentina government is providing subsidies to attract investments in the energy sector and to enhance business climate in the country.
Latest News
A number of concerns about the upcoming Olympic Games in Rio, have already been reported. These include supply of virus contaminated water, forcing to pay the athletes their air conditioning and television bill. Power cutting to Olympic 2016’s inaugural venue by Rio City due to unpaid bill has appeared to be the last blow for the Olympians.
Mexico oil giant Petroleos Mexicanos (Pemex) is planning to trim its headcount in 2016. The State-run company has suffered a record loss, while its production is declining to 25-year low. Pemex has taken up a restructuring exercise to bring back profitability to the company.
The Brazil's central bank will be under pressure to raise interest rate in 2016 amid gripped into the deepening recession. The borrowing cost is expected to rise by 0.25 percent next year. Brazil is suffering from rising inflation and easing productivity.
The Colombian Central Bank is heading towards a hike in interest rate. The Colombian government is keen on checking inflation rise and control the current account deficit.
Adventure brand and Esprit owner and co-founder of the North Face outdoor company, Douglas Tompkins, died in a kayaking accident in Chile. He spent a large percentage of his wealth on environmental conservation.
A new Coca-Cola ad in Mexico has been taken down due to massive criticism that its depicts local indigenous groups poorly while also encouraging poor health.
A new study has found that deforestation could lead to the extinction of up to half the species of trees in the Amazon. According to the Washington Post a new study published Friday in the Journal Science Advances has found that 36 to 57 percent of all species of trees in the Amazon are at risk of extinction if deforestation continues.
The oil production in Colombia is poised to drop below the target of one million barrels per day in 2016 following the slowing down of drilling activity and ageing of major oil fields.
As the November 22 presidential election is fast approaching, the economic inflation of 35 percent a year is one of the major issues that the next president of Argentina will have to face.
