Current Edition

Current Edition
Friday, August 29th 2014 - 08:11 UTC

US economy rebounds strongly in the second quarter: 4.2% annual rate

Domestic demand increased at a 3.1% rate, instead of the previously reported 2.8% pace. It was the fastest pace since the second quarter of 2010

The US economy rebounded more strongly than initially thought in the second quarter and details of a report on Thursday pointed to sustainable underlying strength. GDP expanded at 4.2% annual rate instead of the previously reported 4.0% pace, the Commerce Department said, reflecting upward revisions to business spending and exports.

Friday, August 29th 2014 - 08:07 UTC

Singer extends 'discovery' looking for Argentine assets in Chinese banks

 While the Chinese banks can oppose the request, Singer's Elliott is confident that the US courts would ultimately allow its request to go through.

As it did in Nevada and California, a unit of billionaire Paul Singer's Elliott Management, which is Argentina's main holdout creditor, is extending its legal fight with the country to China. NML Capital served subpoenas this week to Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) in an effort to obtain information on 6.8bn dollars in financing for deals signed by the two countries in July.

Friday, August 29th 2014 - 07:32 UTC

Malaysia Petronas joins YPF to develop shale-oil reserves in Argentina

More than 30 wells will be drilled in the pilot stage, which is scheduled for the first quarter of 2015, YPF said in a statement.

Argentine government controlled energy company YPF said on Thursday it signed a 550 million dollars agreement with Malaysia's Petronas to develop shale-oil reserves in the massive Vaca Muerta formation.

Friday, August 29th 2014 - 06:49 UTC

New technology could end the debate over pipeline safety

Despite advances smart pigs aren’t terribly accurate. Pipeline operations have to shut down and analyzing the data smart pigs gather can take some time

Who could have ever imagined that North America would surpass Saudi Arabia as the world’s largest producer of oil and natural gas liquids? A decade ago, that would have seemed laughable. Yet that’s exactly what has happened; and it’s not just Saudi Arabia that has been left in North America’s dust -- Russia has, too.

Friday, August 29th 2014 - 06:46 UTC

Mercosur main partners in another attempt to re-launch withering economies

Kicillof is expected in Brazil to meet with his peer Mantega and Industry minister Burgos.

Argentine Economy minister Axel Kicillof left Buenos Aires on Thursday for Brazil, where he will meet with fellow ministers from the country to discuss the current situation of bilateral trade and the automotive industry.

Friday, August 29th 2014 - 06:25 UTC

UK expertise to help Santiago's with a 'greener' public transport system

Finn Coyle, Environmental Manager for Transport for London during the conference.

The British Embassy in Chile together with the Metropolitan Public Transportation Department (DTPM) and the consultant company Sistemas Sustentables Ltd., Chile hosted the workshop ‘Improving bus technology within the public transport system of Santiago’.

Friday, August 29th 2014 - 06:17 UTC

Capitanich downplays success of strike and claims only well paid unions joined

”There are 20 labor unions with over 30,000 members which did not join (the walkout). Only eight (unions) of over 30,000 members joined,” said Capitanich

Argentine cabinet chief Jorge Capitanich downplayed the success and support of Thursday's strike and stressed that the income tax, one of the key points in the protest only reaches 10.4% of workers and criticized radical groups for supporting those “who earn most”

Friday, August 29th 2014 - 06:04 UTC

Argentina says it won't yield to unions; controversy over success of the national strike

Moyano said the strike was a response to a government that “denies reality” and “has lost touch with the people.”

Argentina's Labor minister Carlos Tomada said that it is not a government’s priority to discuss the modification of the income tax or re-opening wage talks, as dissident unions demanded during a general strike on Thursday which partially paralyzed Buenos Aires city since several transport unions joined the stoppage.

Friday, August 29th 2014 - 05:56 UTC

Argentina will only negotiate with all bondholders: no more piecemeal debt talks

“The main aim of the draft bill is to show that Argentina can pay its debt and wants to pay its debt,” Carlos Zannini told Argentine Congress

Argentina's government ruled out further piecemeal debt talks with a small group of U.S. hedge funds (holdouts) and said the country needed to strike a deal with all bondholders including those which have rejected past restructuring agreements as a single group.

Thursday, August 28th 2014 - 06:51 UTC

Marina leaps ahead in presidential debate; wants brightest minds to join her government

“The colorful Brazil that President Dilma has described only exists in the cinema” said Silva, vowing to shake up Brazil's politics

A surging Marina Silva took Brazilian president Dilma Rousseff to task in an election debate Tuesday night when she touted her government's achievements in improving social conditions and defending wages in the midst of global economic crisis.

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