Stories for April 2016

Thursday, April 21st 2016 - 12:34 UTC
Mounting evidence against Lula da Silva at Brazil's Supreme Court

Brazil's Supreme Court on Wednesday suspended a meeting that was to decide whether former President Lula da Silva can be his successor's chief of staff. The delay came three days after the lower house of Congress voted to begin impeachment proceedings against President Dilma Rousseff. She is accused of using accounting tricks in managing the federal budget.
Thursday, April 21st 2016 - 12:16 UTC
Ecuador raises taxes to rebuild cities devastated by major earthquake which continues with aftershocks

President Rafael Correa announced Wednesday night that he is raising sales taxes and will charge a one-time levy on millionaires to rebuild cities devastated by Ecuador's worst earthquake in decades. In a televised address, Correa said damages from the 7.8-magnitude quake will likely run into the billions of dollars, adding to already heavy economic hardships triggered by the collapse in world oil prices.
Thursday, April 21st 2016 - 12:07 UTC
Argentine bill proposes 25% higher penalties for attacks on a teacher

An attack on a teacher would be punished with higher penalties than an attack on any other citizen under proposals in Argentina to raise the status of teaching. It is believed to be the first time teachers would have been given a special legal protection in this way.
Thursday, April 21st 2016 - 11:49 UTC
Monsanto in collision course with the administration of president Macri

Monsanto has rejected a request by Argentina for more time to collect monies owed by small farmers for royalties on genetically modified soybean seeds. Argentine agricultural minister Ricardo Buryaile and members of his staff have met with Monsanto representatives, including chief operating officer Brett Begemann to request a waiver on the monies owed.
Thursday, April 21st 2016 - 11:22 UTC
Rousseff will claim before UN she is victim of a “coup d'état without weapons”

Embattled Brazilian President Dilma Rousseff will travel to New York in a bid to rally international support against her impeachment, leaving behind a Cabinet paralyzed by political crisis as another minister defected Wednesday.
Thursday, April 21st 2016 - 10:49 UTC
Reporters organization questions media ownership concentration in Argentina

Reporters Sans Frontières (RSF) international organization questioned the abrogation of Argentina’s media law decided by the administration of President Mauricio Macri, warning the new legislation that creates the Enacom agency “favors” concentration of media ownership in the country.
Thursday, April 21st 2016 - 10:41 UTC
UK private helicopter company begins Falklands' around the clock air operations

British International Helicopters (BIH) has begun flight operations in the Falkland Islands, working alongside Britain’s military forces in the region to provide a range of vital air support services. Following the award of a ten-year, £180 million contract last year, Britain’s largest UK-owned helicopter operator will undertake a range of assignments including around the clock, all-weather search and rescue, helicopter emergency services, rescue hoist operations, and passenger and cargo transfers.
Thursday, April 21st 2016 - 05:11 UTC
Chile downplays Argentina's continental shelf extension which included Falklands and Antarctic territory

A strong controversy is expected following statements from Chilean officials who downplayed the significance of the recent UN continental shelf maritime extension referred to Argentina and which included the Falklands, South Atlantic Islands and Antarctica territory.
Wednesday, April 20th 2016 - 07:10 UTC
Macri pledges “no repeat of the 2012 situation” to Navy's training vessel 'Libertad'

“You can set sail peacefully, because there will be no repeat of the 2012 situation”, president Mauricio Macri told officers, crew and cadets of the Navy's training tall ship Libertad that is ready to set off for the annual tour. Macri was referring to the incident in Ghana when the vessel was seized on an injunction request from one of the holdout funds litigating Argentina over defaulted bonds.
Wednesday, April 20th 2016 - 06:58 UTC
Argentina makes emerging-market record US$ 16.5b debt sale and ends litigation with bondholders

Argentina announced on Tuesday the largest emerging market debt sale on record with a global offering of 16.5bn dollars at an average interest rate of 7.14%, well below what it had planned in March in the midst of negotiations to end litigations with holdout funds opening the way, after fifteen years, for the return to world money markets. Underwriters received 68.5bn dollars in orders for bonds, more than four times the value of the debt.