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Montevideo, November 19th 2018 - 17:44 UTC

Stories for August 11th 2015

  • Tuesday, August 11th 2015 - 15:46 UTC

    Falkland Islands reply to Milko Schvartzman comments on fisheries

    There is only a small fleet (18) of Falkland flagged fishing vessels. These all operate to high standards as British vessels.

    The comments by Milko Schvartzman on the Falkland’s fishery in FIS on 2 June 2015, are incorrect and uninformed in many areas. We reject the inference that the Falkland Islands Government promotes a fisheries industry based on modern-day slavery and on piracy. The Falkland Islands have a long history of responsible environmental stewardship, and we pride ourselves on protecting and safeguarding our unique environment and the natural resources therein.

  • Tuesday, August 11th 2015 - 08:18 UTC

    China devalues the currency in support of its struggling export sector

    The People's Bank of China surprised the market on Tuesday weakening the fix on its daily reference rate for the Yuan by a record 1.9%.

    China has moved aggressively to devalue its currency in a bid to support its struggling export sector as the economy shows further signs of weakness on the way to reporting its slowest annual pace of growth in 25 years. The People's Bank of China surprised the market on Tuesday weakening the fix on its daily reference rate for the Yuan by a record 1.9%.

  • Tuesday, August 11th 2015 - 08:06 UTC

    Google restructures creating new parent company, Alphabet

    Google founder Larry Page said it would create a simpler structure for what had become a diverse group of businesses.

    Google has unveiled a surprise restructuring, creating a new parent company called Alphabet Inc. Under the rebranding, Google will retain its best-known businesses, such as search, apps, YouTube and Android.

  • Tuesday, August 11th 2015 - 07:55 UTC

    Argentina wins a battle in its ongoing struggle with hedge funds

    The 2nd U.S. Circuit Court of Appeals ruled that Judge Griesa had improperly expanded a class of bondholders who were seeking repayment

    Argentina on Monday won a battle in its ongoing struggle with hedge funds holding sovereign bonds. In this case Argentina managed the reversal of a U.S. judge's ruling that a group of bondholders suing over its defaulted debt said entitled them to $700 million.

  • Tuesday, August 11th 2015 - 07:32 UTC

    Falklands' GDP dropped in 2013 because of lesser oil and gas activity

    MLA Michael Poole said that “such fluctuation is not unusual in the Falklands” since the Islands’ economy continues to be reliant on a few industries.

    The Falkland Islands Gross Domestic Product (GDP) dropped in 2013 primarily due to lesser oil activity according to a recent Executive Council paper that included updated figures from the FIG Economist Commenting on the paper, according to a report from the latest edition of the Penguin News.

  • Tuesday, August 11th 2015 - 07:18 UTC

    State of emergency in north of Chile because of torrential rain and floods

    “Some people lost all their belongings, others have been left in very complex situations,” the president said in the city of Tocopilla.

    A state of emergency has been declared by the Chilean government in the northern cities of Antofagasta and Tocopilla due to the strong winds, heavy rains, flashfloods and mudslides. President Michelle Bachelet visited the north on Monday to observe first-hand the damage caused by a storm that left six people dead nationwide.

  • Tuesday, August 11th 2015 - 07:14 UTC

    Argentina will service 3.5bn dollars maturing next October with bank reserves

    Central bank will transfer to the Treasury, the needed amount of over 3.55bn dollars and in exchange will receive 10-year debt instruments from the Treasury

    Argentina confirmed it will be using Central Bank foreign-currency reserves to service more than US$3.5 billion dollars in international debt that matures in October. The confirmation came through an announcement in the Official Gazette, signed by President Cristina Fernández, Cabinet Chief Anibal Fernández and Economy Minister Axel Kicillof.