Stories for November 27th 2012

Tuesday, November 27th 2012 - 23:52 UTC

Peruvian president tells Argentine congress of its solidarity with the Malvinas issue

Humala addressing Congress in Buenos Aires  (Photo: Telam)

Peruvian president Ollanta Humala expressed solidarity with Argentina in the Malvinas Islands issue and said that “the problems of the region are common problems” for all countries.

Tuesday, November 27th 2012 - 22:54 UTC

Argentina will make a plea at the Unasur summit to jointly face ‘vulture funds’

Cristina Fernandez and Peruvian visiting president Ollanta Humala

During a ceremony to receive visiting Peruvian leader Ollanta Humala Argentine President Cristina Fernández said that she would make a plea for Unasur members to come together in the fight against ‘vulture funds’ (hedge funds) when the region’s leaders meet this week in Lima.

Tuesday, November 27th 2012 - 22:25 UTC

FIFA warns Brazil on Sao Paulo crime and insufficient infrastructure for 2014 Cup

However Valcke admits that “we have now moved from talking about the problems to talking about the solutions”

FIFA general secretary, Jerome Valcke has warned Brazil of the increasing crime rate in cities like Sao Paulo and also stressed on the need of more infrastructure ahead of the 2014 football World Cup.

Tuesday, November 27th 2012 - 22:18 UTC

Mixed bag for Noble Energy: oil in Gulf of Mexico and plugged well in the Falklands

Charles D. Davidson, Noble Energy's Chairman and CEO, said, ”The discovery at Big Bend is an exciting follow-up to our recent success at Galapagos.

Noble Energy Inc. (NBL) unveiled a discovery in the Big Bend exploration area in the Gulf of Mexico as it also abandoned another well off the shore of the Falkland Islands that yielded a low-quality reservoir.

Tuesday, November 27th 2012 - 21:11 UTC

Lack of political leadership threatens the global economy warns OECD

Euro zone 17-nation bloc is “projected to remain in or near recession until well into 2013,”

Global growth is set for a sharp slowdown next year and the Euro zone debt crisis “remains the greatest threat to the world economy at present,” the OECD warned on Tuesday. In its latest Economic Outlook the OECD also cautioned that “the risk of a new major contraction cannot be ruled out” after a global slump in 2009.

Tuesday, November 27th 2012 - 21:02 UTC

Argentina prepared to reopen bonds’ swap under certain conditions

Minister Lorenzino called Judge Griesa’s ruling “contrary to common sense and Argentine Law”

Economy Minister Hernan Lorenzino described the appeal presented on Monday by Argentina against the ruling of New York Judge Thomas Griesa as “very forceful”, and pointed out that if the magistrate had proposed to treat hedge funds demands under the terms of the 2010 debt-swap, the Argentine congress might then address the option.

Tuesday, November 27th 2012 - 20:40 UTC

Brazil’s oil windfall distribution debate takes off in the streets of Rio do Janeiro

Governor Cabral, a close political ally of President Rousseff but not when sharing profits from oil rich Rio

Thousands of people took to the streets in Rio do Janeiro on Monday to urge Brazilian President Dilma Rousseff to veto a bill that local officials say could cost Rio state billions of dollars in lost oil revenue, and cripple plans to host the World Cup and Olympics.

Tuesday, November 27th 2012 - 12:35 UTC

Poor quality hydrocarbons in south/east Falklands; new round of 3D program begins

PGS M/V Ramform Sterling expected in the Falklands

Falkland Oil and Gas Ltd. (FOGL) focused on exploration in areas to the South and East of the Falkland Islands reported on Tuesday that the well drilled at its Scotia prospect discovered poor quality hydrocarbons.

Tuesday, November 27th 2012 - 04:52 UTC

Investors holding restructured Argentine bonds also appealed Judge Griesa’s ruling

Sean O’Shea, a lawyer representing Gramercy, a group that agreed Argentina’s debt swap

Investors holding 1 billion dollars worth of restructured Argentine debt said they also appealed to US District Judge Thomas Griesa’s ruling that they fear would trigger another default and prevent them from being paid principal and interest due on their bonds next month.

Tuesday, November 27th 2012 - 04:47 UTC

President Franco says Paraguay will begin pumping oil in mid-2013

The oil basin is close to Argentina and President Franco will be visiting the area next week

Paraguayan president Federico Franco announced on Monday that starting on 2013 the country will become an oil producing nation, after a recent discovery close to the border with Argentina.

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