Current Edition

Current Edition
Friday, March 27th 2015 - 09:04 UTC

Argentine appeals court dismisses Iran-case accusation against Cristina Fernandez

Judges Eduardo Freiler and Jorge Ballestero voted to throw out the criminal complaint while Judge Eduardo Farah argued that the case should be investigated further.

Argentina's First Court of the Buenos Aires City Federal Appeals Court dismissed late prosecutor Alberto Nisman’s accusation that claimed President Cristina Fernández and other top officials had tried to negotiate impunity for the alleged Iranian masterminds of the 1994 AMIA Jewish community centre bombing.

Friday, March 27th 2015 - 08:57 UTC

Uruguay's economy expanded 3.5% in 2014, completing over a decade of sustained growth

With the exception of construction, most of other sectors, manufacturing, communications and transport expanded strongly

Uruguay's GDP expanded a strong 3.5% during 2014 over the previous year, with positive activity in most sectors of the Mercosur member economy, according to the latest report from the Central bank. The result was in line with government officials expectations of 3% growth last year.

Friday, March 27th 2015 - 08:46 UTC

European clearing houses close trading bridges on Argentine law bonds

The decision was part of Argentina's decade long court battle with holdout investors seeking some 1.33 billion plus interest from Argentina.

Clearing houses Euroclear and Clearstream have closed trading bridges on some 9.4 billion of Argentine bonds issued under the country's law. The action will prevent Euroclear customers from settling their trades with Clearstream clients and vice versa, but will not affect trading between customers belonging to the same clearing company, the same source said.

Friday, March 27th 2015 - 08:36 UTC

Another major corruption scandal hits Brazil, this time fraud at the tax office

The tax office detected suspect appeals rulings that cost the state 5 billion Reais in tax evasion and are probing other cases that could raise the total to 19 billion Reais

Brazilian authorities on Thursday said they uncovered a tax fraud scheme at the Finance Ministry's tax appeals board that may have cost taxpayers up to 19 billion Reais (5.96 billion dollars).

Friday, March 27th 2015 - 08:31 UTC

Brazilian industry confident depreciation of the currency will help spur exports

“The new level the dollar has reached benefits local manufacturing and exports,” Fiesp's foreign relations and foreign trade director, Antonio Bessa said.

Brazil's private sector believes the depreciation of the Real against the dollar can help spur a manufacturing sector recovery even though the business climate has been affected by the Petrobras scandal, an official with the Federation of Industries of the State of São Paulo, Fiesp, said.

Friday, March 27th 2015 - 08:23 UTC

Brazil's central bank forecasts economy will contract 0.5% and inflation climb to 7.9%

The bank's president Tombini said before the Senate that the inflation rate should be much lower in April than in the year's first three months.

Brazil's economy will contract 0.5% in 2015 and inflation will climb to 7.9%, ending the year far outside the tolerance range, the Central Bank admitted on Thursday in its latest quarterly inflation report.

Friday, March 27th 2015 - 08:07 UTC

Petrobras engineering firm contractor files for bankruptcy

Grupo Galvao is one of the first to break under the strain of canceled projects and suspended payments as a result of the broad police probe into Petrobras

Brazilian engineering firm Galvao Engenharia said on Wednesday it filed for bankruptcy protection, as state-run oil company Petrobras cut off payments due to a broad corruption scandal in which it had been implicated.

Friday, March 27th 2015 - 07:52 UTC

International summit on oil and gas potential in Uruguay next June

 “The Summit will highlight the country’s activities, unveil its potential and facilitate much needed networking for the industry”, said Hector de Santa Ana

Uruguay's oil and gas Government owned company, ANCAP, will join senior level delegation from international oil and gas operators on 11-12 June 2015 in Montevideo to analyze the potential of a region that has experienced significant advances since 2009.

Friday, March 27th 2015 - 07:38 UTC

UK biggest union and Labor affiliate pledges full support for Gibraltar with Ed Miliband

McCluskey acknowledged the failed attempt by Tony Blair’s Labor government to share the sovereignty of Gibraltar with Spain in 2002

United Kingdom Unite boss Len McCluskey gave ‘the fullest of assurances’ that he would influence a future Labor government in Britain to respect the wishes of the people of Gibraltar in any dealings with Spain.

Friday, March 27th 2015 - 07:23 UTC

Argentina denies purchase of Russian aircraft but admits the Chinese option

The Argentine minister pointed out that Russia's Su-24 were never under consideration since they are “absolutely inaccessible in terms of value”

Argentina 'never had in consideration' the possibility of purchasing fighter aircraft from Russia, such as the Sukhoi Su-24, to replace the aging French Mirages to be decommissioned by the end of the year, said Defense minister Agustín Rossi.

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