Stories for 2014

Friday, October 31st 2014 - 08:27 UTC

Pacific Alliance and Mercosur begin round of ministerial informative meetings

Mercosur describes the Pacific Alliance as “a regional integration initiative started in April 2011”, while Mercosur was launched in Paraguay in 1991.

The Pacific Alliance and Mercosur will be holding a two-day ministerial informative meeting in Cartagena de Indias, Colombia, beginning this Friday, a first approach to a possible convergence of the two groupings, according to official releases.

Friday, October 31st 2014 - 08:15 UTC

Uruguayan challenger promises to abolish tax on pensions and lift the income tax floor

“Take my word, no new taxes, no increase in the retirement age, all of which is in our government agenda”, pledged Lacalle Pou

Uruguay's opposition candidate Luis Lacalle Pou admitted on Thursday that defeating incumbent Tabare Vazquez in the 30 November runoff is 'difficult' but not impossible. In last Sunday's first round the incumbent candidate garnered 47.9% of the vote and Lacalle Pou, 30.9%.

Friday, October 31st 2014 - 08:08 UTC

Chinese relief for Argentina: central banks activate currency-swap

The Central Bank of Argentina said the Yuan “is on a path to becoming one of the major global reserve currencies.”

The central banks of Argentina and China on Thursday activated a bilateral currency-swap agreement, which meant that the Argentine central bank received an initial tranche of Yuan equivalent to 814 million dollars.

Friday, October 31st 2014 - 07:51 UTC

Argentina approves new hydrocarbons bill to attract foreign investments

Argentine urgently needs an inflow of funds to develop its massive Vaca Muerta shale oil and gas deposits and lower its hefty energy-import bill.

Argentina's lower house of Congress, which is controlled by President Cristina Fernandez's allies, gave final approval Thursday for a new Hydrocarbons Law that was harshly criticized by opposition lawmakers. The lower house passed the bill with a vote of 130-116 with one abstention after more than 14 hours of debate.

Friday, October 31st 2014 - 07:13 UTC

Google victory in Argentina: search engines are not responsible for content they index

Model Rodriguez filed the lawsuit demanding compensation from Google, saying she had suffered as a result of the websites that the search engine linked to.

In what is considered a leading case for Argentina, the country's Supreme Court said search engines are not responsible for any content they index, handing a victory to Google in what had become one of the most technologically complicated issues to reach Argentina’s highest court in recent memory.

Friday, October 31st 2014 - 07:04 UTC

Falklands demining contracts goes to Bactec and Fenix Insight

Over the two year project, a minimum of 23 mined areas will be cleared, as well as one further area of suspect land

Two companies have been awarded contracts by the UK Foreign Office for the clearance of minefields in the Falkland Islands, dating back to the 1982 conflict when retreating Argentine forces laid antipersonnel and other explosives particularly in a ring surrounding the capital Stanley.

Friday, October 31st 2014 - 06:49 UTC

US economy expands 3.5% in third quarter boosted by government spending and exports

Growth was lifted in the third quarter by a sharp increase in government spending, which itself was boosted by a surge in defense expenditure.

The US economy grew at an annual rate of 3.5% in the July-September quarter, the Commerce Department reported on Thursday. That was better than the 3% pace that economist had been expecting and follows the 4.6% growth rate recorded in the April-June quarter.

Friday, October 31st 2014 - 06:38 UTC

Korea's largest shipbuilder announces record losses worse to come

Losses reflect increased costs run up in constructing ships like semi-submersibles and 50,000-ton refined oil product carriers.

South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of 1.8 billion dollars and warned it's heading for its worst-ever year as cost overruns mount up in new business lines it developed to counter a global glut of low-margin ship orders.

Friday, October 31st 2014 - 06:28 UTC

Petrobras consortium find high-quality oil at the Libra area, off Rio do Janeiro

Libra consortium  is composed of Petrobras (40%), Shell (20%), Total (20%) and China's CNOOC (10%)

The Petrobras-led Libra consortium has said that the first extension well in the Libra area, known as 3-BRSA-1255-RJS (3-RJS-731), has proven the discovery of high-quality oil in the northwest portion of the structure.

Thursday, October 30th 2014 - 21:49 UTC

Fifty one countries sign 'milestone' accord against tax evasion

The accord will end banking secrecy as it has been known for decades, the finance minister, Germany's Finance minister Wolfgang Schäuble

Fifty one nations on Wednesday signed what was hailed as a milestone in the fight against tax evasion, an agreement that commits them all to automatic exchange of tax information starting in 2017. The accord capped a two-day meeting of officials from most of the 123 nations that have joined the Global Forum, which evolved from an agreement by Germany and Britain two years ago to crack down on tax evasion and tax fraud.

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