Stories for 2013

Wednesday, December 18th 2013 - 17:49 UTC

Falklands' budget challenge: how to distinguish recurrent funding from oil windfall income

Falklands delegation was recently in Norway to learn about sovereign funds

The Falkland Islands Executive Council, (EXCO), considers essential more public scrutiny to budget affairs discussions so that individuals can better understand what monies are available for ongoing funding and which are windfall incomes from oil related matters.

Wednesday, December 18th 2013 - 16:46 UTC

Falklands to cash 146m dollars from tax on farm-out deal in oil industry

Nicola Granger, a milestone that reflects FIG commitment to provide a reliable framework for sustainable long term oil industry

An agreement has been reached between the Falkland Islands government and Rockhopper Exploration regarding tax arising from the Sea Lion farm-out to Premier Oil, an operation involving a billion US dollars, and which according to the settlement generated a credit of 146m dollars for the Islands Treasury.

Wednesday, December 18th 2013 - 07:15 UTC

Heat wave in Argentina collapses power grid: thousands with no energy or water

People out in the streets banging pots to protest (Photo: DYN)

People out in the streets banging pots and pans, or protesting burning tires and garbage containers in powerless neighborhoods, while an estimated 30.000 businesses in Buenos Aires City and metropolitan area are organizing demanding compensation for losses suffered because of the collapse of the power distribution system overwhelmed by an extraordinary heat wave with temperatures in the high thirties and low forties.

Wednesday, December 18th 2013 - 07:05 UTC

Kimberlite rocks found in Antarctica could mean the territory is rich in diamonds

Even if found they can't be exploited because of Antarctic treaties specifically banning mining

The prospect that Antarctica could be rich in diamonds was published in the scientific journal Nature Communications, following the discovery by a team of a telltale rock called kimberlite in the Prince Charles Mountains in East Antarctica.

Wednesday, December 18th 2013 - 06:51 UTC

Argentine mobile phone companies have to adjust rates and charge by the second

The companies were given an additional sixty days to adjust to the new regulation

Mobile phone companies operating in Argentina will have 60 days to adjust all their rates and charge by the second, Federal Planning Minister Julio De Vido and Communications Secretary Norberto Berner confirmed in a news conference. Companies Personal, Movistar and Claro will only have 15 days to implement the change for new customers according to the resolution published in the Official Gazette.

Wednesday, December 18th 2013 - 06:43 UTC

First ruling against US government 'metadata' collection; Obama meets top technology companies leaders

Federal District Judge Richard Leon said the electronic spy agency's practice was an “arbitrary invasion”.

A US judge has ruled the National Security Agency's mass collection of telephone data may be unconstitutional. Federal District Judge Richard Leon said the electronic spy agency's practice was an “arbitrary invasion”.

Wednesday, December 18th 2013 - 06:29 UTC

Paraguay set to approve Venezuela Mercosur membership this Wednesday, ending 18-month rift

The full Lower House will vote the protocol and decide dropping the persona non grata pending on President Maduro

Paraguay is waiting for the formality of a Wednesday vote in the Lower House floor to acknowledge the controversial incorporation of Venezuela as full member of Mercosur, putting an end to an 18 months political and diplomatic rift in the block. The Deputies' Constitution Affairs and Foreign Affairs committees on Tuesday afternoon approved Venezuela's Mercosur incorporation protocol, which means all is ready for the full house expected positive vote.

Wednesday, December 18th 2013 - 06:19 UTC

Falklands oil industry: Buenos Aires rejects UK formal protest; 'Malvinas are Argentine'

Deputy minister Zuaín insisted Argentina is prepared to resume bilateral talks on the Falklands' sovereignty any moment

Argentina formally rejected on Tuesday the United Kingdom's 16 December protest against the latest Argentine hydrocarbons legislation which seeks to criminalize oil industry activities in Falklands/Malvinas Islands waters and which London argues is not applicable to the Islands.

Tuesday, December 17th 2013 - 19:10 UTC

Uruguay must address fiscal policy (and inflation) suggests leading private bank

Goldfajn: Uruguay's inflation has been off target for too long

The US dollar is poised to continue consolidating during 2014 in Uruguay, and will most probably by the end of the year reach 24 Pesos from the current 21 Pesos, according to Itaú, one of the leading private banks in the country, which also warned about inflation and the fiscal deficit.

Tuesday, December 17th 2013 - 17:58 UTC

Beijing thanks Argentina for protecting Chinese-owned stores during recent riots

At least 13 people were killed during the looting including one Chinese national

China expressed appreciation on Monday for Argentina's efforts to handle recent looting and damage to supermarkets owned by overseas Chinese. Beijing last week urged Buenos Aires to protect Chinese citizen's security and interests after one Chinese was killed in recent riots and looting.

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