Search Results for: Venezuelan

THE VENEZUELAN government has launched a crypto-currency whose exchange rate is linked to global oil prices and which is backed by the country’s plentiful oil reserves.

The ‘Petro’ is the first state-backed virtual currency. Only the Venezuelan government can issue credits (it is ‘pre-mined’ in crypto-currency jargon).…

CHINA’S imposition of temporary safeguard duties to protect its sugar industry have been challenged at the World Trade Organisation (WTO), with sugar giant Brazil arguing Beijing’s tariffs break global commerce rules. In a signal that Brazil might be considering launching a disputes case against China, diplomats for the South American country told a WTO safeguards committee meeting that the duties broke the WTO agreement on safeguards and the general agreement on tariffs and trade (GATT). …

COLOMBIA’S oil and gas sector is stabilising after a crisis provoked by the plunge in global oil prices, but efforts to recover growth are being hampered by guerrilla attacks, corruption scandals and a popular backlash against the industry.

The crash in oil prices that began in 2014 has left the oil industry in Colombia in a precarious position, with only an estimated five years of commercially reliable reserves remaining, according to government calculations.…

The macro-economic slowdown experienced by Latin America in recent years has thrown the brakes on what had been impressive growth in the beauty and personal care sector since the turn of the century.

Much of the region is now looking for ways to stimulate the sector, tempering ambitions by aiming for more gradual growth rather than runaway success.…

Brazil’s tumbling textile exports to Venezuela may fall further if the country is suspended from the south American trading bloc, Mercosur next month. (December, 2016) 

According to World Bank data, Brazil’s textile and clothing exports to Venezuela peaked in 2011 at USD90.3 million but have been falling steadily ever since.…

South America’s cosmetics and personal care sector is looking to bounce back from a slowdown caused by the region’s macroeconomic troubles, but political pressures and regional trade alliances are driving individual country markets down divergent paths.

Over the last year, countries across the region have been buffeted by economic turmoil that has had a knock-on impact on the cosmetics sector.…

A DRAMATIC year for Pyrenees micro-state of Andorra has highlighted a debate over whether the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has excessive power over financial institutions outside America.

The American financial intelligence unit (FIU) issued a Notice of Finding (NOF) in March 2015, saying Banca Privada d’Andorra (BPA), one of only five banks in the principality, was a financial institution of “primary money laundering concern.”…

THE EUROPEAN Union (EU) chocolate sector stands to access supplies from the world’s third largest cocoa producer – Indonesia – should new talks to forge an EU-Indonesia trade deal prove successful. The country produced around 400,000 tonnes of cocoa in 2015.…

A decline in exports has ended the boom years for the Colombian cosmetics sector, but the country still holds high hopes of establishing itself as a major regional player.

Colombia’s cosmetics and personal care sector has been thriving for well over a decade, as economic growth has fuelled a strong domestic market and the country established itself as an export hub for the north of South America.…

MIRRORING how Spain is crawling out of its long recession, the country’s personal care product market is recovering. UK-based market researchers Euromonitor released a report last month concluding: “After years of decline in value terms, beauty and personal care finally saw a positive performance in Spain in 2015.”…