Argentina's economic activity rose 1.6% in December compared with the previous month, government data showed, a sign the economy likely expanded in the fourth quarter after a long recession. The economy fell 0.1% in December year over year and closed 2016 down 2.3% compared with 2015.
Argentina's state-run oil company YPF said it reached a preliminary deal with Royal Dutch Shell Plc to develop oil and gas assets in the Vaca Muerta shale field, involving a US$300 million investment from Shell.
A team or Argentine and Chilean experts have visited Czech and British bases in Antarctica as part of the routine inspection of environment and security operations, in the framework of the Antarctic Treaty. The Argentine foreign ministry reported that the inspections took place for the second consecutive year between 19 January and 25 February.
Pope Francis insisted that indigenous groups must give prior consent to any economic activity affecting their ancestral lands, a view that conflict with the Trump administration, which is pushing to build a US$3.8bn oil pipeline over opposition from American Indians.
The Organization of American States Secretary-General Luis Almagro said Wednesday that the Cuban government denied him permission to enter the island to receive a human rights prize created to honor late dissident Oswaldo Paya. Mexican ex-President Felipe Calderon and former Chilean Education Minister Maria Aylwin were denied entry to the island the day before.
The futuristic €450 million yacht at the centre of a €15.3m legal wrangle has been freed from admiralty arrest and sailed from Gibraltar early Wednesday morning. Sailing Yacht A weighed anchor at around 8.30am and sailed from the Bay of Gibraltar in rough seas bound for the Mediterranean, reports the Gibraltar Chronicle.
A future relationship between Britain and the European Union will take years to negotiate and the UK can expect a hefty bill as the price of exit, European Commission president Jean-Claude Juncker has warned. Mr. Juncker said Britain must understand that it will not be able to negotiate a “cut-price or zero-cost” exit from the EU, but will have to settle the bill for commitments which it entered into as a member.
Argentina's Dr. Eduardo L. Holmberg research vessel left for a second cruise of tooth fish, pollock, Patagonian grenadier and squid assessment. The cruise is expected to last thirty days and will be operating between 45o and 54o30' South and catching samples at depth ranging from 50 to 400 meters.
Brazil cut its key interest rate further on Wednesday to try to prop Latin America's biggest economy out of its worst recession in a century. The country's central bank cut the benchmark rate by 0.75 percentage points to 12.25%, still one of the worlds highest.
The impact of Brexit on the Falkland Islands and the economy in general were subjects raised with visiting Members of Parliament this week. The delegation of four made a flying visit to the Falkland Islands last weekend accompanied by FI Representative in London Sukey Cameron.