Continuing with his economic reforms Argentine president Mauricio Macri announced on Friday the elimination of export duties for metallic and non-metallic minerals during a visit to the province of San Juan, a key mining district in Argentina. At the announcement were present several other provincial governors with strong interests in the mining industry.
Hedge fund Aurelius Capital Management, one of the major creditors in the Argentine bond litigation who has not agreed to participate in a proposed $6.5 billion settlement, called Argentina's decision to return to court in the dispute baffling.
In the midst of ongoing negotiations in the United States courts between the administration of President Mauricio Macri and holdouts to reach an agreement, special master Daniel A. Pollack on Friday issued a statement reiterating “two major holdouts reached agreements in principle with Argentina to settle their claims.
Rockhopper Exploration which has a joint venture agreement with Premier Oil offshore the Falkland Islands, described the oil exploration campaign now terminated as a 'huge success' and underlines the postponement of the Chatham well drilling will have no impact on the Field Development Plan for the Sea Lion oil discovery development.
The Falkland Islands government and Premier Oil have announced on Friday the ocean rig 'Eirik Raude' contract termination, which in practical terms puts an end to the current exploratory campaign and the scheduled drilling of the Chatham well. Nevertheless both sides underlined the success of the now terminated campaign with the oil discoveries at the Zebedee and Isobel Deep prospects in the North Falkland basin and look forward to continue working in the near future.
The International Monetary Fund (IMF) has nominated current managing director Christine Lagarde for the second term, IMF Executive Board Dean Aleksei Mozhin said in a statement on Thursday.
France called on the European Commission to do more to help its struggling livestock industry, seeking to defuse protests that have seen farmers block highways and supermarkets.
Analysts expect Brazil's economy to contract by 3.21% this year, with the outlook worsening from last week, the Central Bank said this week. Seven days ago analysts said they expected Brazil's economy to contract by 3.01% in 2016.
Rockhopper Exploration flagship project, offshore the Falkland Islands the Sea Lion oil field development, continues to advance despite the recent slump in crude prices.
Tightening financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the US economy off track from an otherwise solid course, Federal Reserve Chair Janet Yellen cautioned in a prepared testimony to Congress on Wednesday.