Stories for 2014

Wednesday, December 31st 2014 - 05:42 UTC

Hedge fund targets 54bn dollars in Petrobras bonds governed by US law

Aurelius, a “distressed debt” fund, is asking investors to put the company into default as “a precautionary step”, according to Reuters

Petrobras, Brazil's state-run oil company, could be declared in technical default on some of its foreign debt if bondholders pursue efforts to force it to speed up its assessment of losses in a giant corruption scandal, according to reports from Reuters.

Wednesday, December 31st 2014 - 05:36 UTC

Paraguay with record 2014 beef exports, but faces Russian situation next year

“It's a historic record, we could never imagine these numbers only a couple of years ago” said Idoyaga, head of Senacsa

Paraguay twelve-month accumulated meat and meat products exports (mostly beef) reached 1.6bn dollars according to primary information said the head of the country's National quality and health animal services, Senacasa, Hugo Idoyaga, which represents a 20% increase in value over the 1.3 bn. dollars of 2013.

Wednesday, December 31st 2014 - 05:31 UTC

Brazil limits social benefits; admits it will miss 2014 fiscal target by wide margin

The reduction in benefits, effective immediately should help the government save up to 18 billion Reais said incoming Planning minister Nelson Barbosa

The Brazilian government announced it will limit unemployment and pension benefits as part of its plans to shore up depleted finances and regain investor confidence. Likewise the Central bank said that following a fourth year of low growth, Brazil will miss its fiscal target for 2014 by a wide margin.

Wednesday, December 31st 2014 - 05:18 UTC

Blackout for Paraguay's hydrocarbons hopes in Chaco drillings

Hydrocarbon flow testing has been hampered by mechanical failures due to poor hole conditions said chairman Peter Levine

President Energy slumped by as much as a third on Monday following an update on testing of the Silurian Santa Rosa and Devonian Icla reservoirs in the Lapacho well in Paraguay's Chaco. A test of Santa Rosa was cut short, although management reckons that it can be commercialized, and a test of Icla recovered only gas and no oil.

Wednesday, December 31st 2014 - 03:48 UTC

Cristina Fernandez travels to the south; ankle fracture convalescence could take over a month

The president has to move around in a wheelchair and must keep her leg in the air. She was pictured with some of her closest aides before flying south

Argentine President Cristina Fernandez, who is suffering from a broken ankle, left on Tuesday afternoon for Calafate in Santa Cruz province, after doctors allowed her to travel. She plans to spend New Year with the family and in good spirits twitted about the authorization, presented her smallest pet, a toy-caniche “Lolita” and announced that small pets will be allowed to travel in all domestic Aerolineas and Austral flights.

Wednesday, December 31st 2014 - 03:23 UTC

Venezuela admits recession in the last three quarters and inflation of 63.6%

Maduro blames protests from the opposition to the poor performance of the Venezuelan economy

Venezuela confirmed on Tuesday it had entered a recession while inflation remained the highest in the Americas, but President Nicolas Maduro's populist government blamed political foes for the dismal data. According to the latest Central bank information, GDP contracted in each of the first three quarters: 4.8%, 4.9% and 2.3%, while twelve-month inflation reached 63.6% in November.

Wednesday, December 31st 2014 - 03:17 UTC

Venezuela has world's second highest homicide rate: 24.980 killings in the year

The Venezuelan government disputes figures produced by independent groups and for last year estimated a homicide rate of 39 per 100.000

Venezuela has the second highest homicide rate in the world, according to a report released by the NGO Venezuelan Violence Observatory. The country's homicide rate for 2014 stood at 82 per 100,000, with a total of 24,980 killings recorded for the year. The figure marked an uptick from the group’s estimate for the year prior, which stood at 79 per 100,000.

Wednesday, December 31st 2014 - 02:54 UTC

Russia's Gazprom takes 100% control of major international gas pipeline

Russian President Vladimir Putin announced the decision on Russia’s withdrawal from the project on December 1 while on visit to Turkey.

Russia’s gas giant Gazprom said in a release on Monday it had signed a deal with Eni, Wintershall and EDF on the purchase of 50% of shares in South Stream Transport BV. Thus, Gazprom will be a 100% owner of the company.

Wednesday, December 31st 2014 - 02:44 UTC

Ushuaia expects 22.000 cruise visitors during January, says local tourist office

The Celebrity Infinity and Golden Princess call regularly at the port of Ushuaia, considered the gate to Antarctica

Ushuaia, in the extreme south of Argentina is expecting 22.000 cruise visitors during the month of January to which must be added to the 17.000 that already landed in Tierra del Fuego since the current 2014/2015 season officially opened last September, according to the provincial Tourist office.

Wednesday, December 31st 2014 - 02:33 UTC

Legal framework to restructure sovereign debts receives strong UN boost

Argentina's U.N. Ambassador Ms Perceval said the resolution will help “other developing and developed countries that suffer and continue to suffer.”

The U.N. General Assembly approved this week the financing of a plan to develop a new legal framework to restructure national debts, a move aimed at avoiding the kind of speculative action that led Argentina to a second default.


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