The European Union issued on Wednesday its revised import preference scheme - known as the Generalised Scheme of Preferences (GSP) - for developing countries most in need which will take effect from 1 January 2014, revealing that all Mercosur full members, except for Paraguay, will no longer benefit.
Businesses on the US East Coast have continued to be disrupted by storm Sandy, with total damage estimated at between 10bn and 20bn dollars. Sandy has flooded subway and road tunnels in much of Lower Manhattan.
Stock markets, shuttered for two days by Hurricane Sandy’s punch ashore, plan to reopen Wednesday. The New York Stock Exchange’s parent company, NYSE Euronext, said trading would commence as usual with a 9:30 a.m. opening bell.
Argentina’s credit rating was cut one level by Standard & Poor’s, which referred to a US appeals court ruling that prevents the country from honouring its debt without also paying holders of its defaulted bonds.
Fitch Ratings has placed Argentina's Long-term foreign currency Issuer Default Rating (IDR) of 'B', Short-term IDR of 'B' and the international bonds issued under New York Law on Rating Watch Negative (RWN).
Iran is likely to import over 100.000 tons of soy-oil from Argentina in October-December 2012 as Iran's purchasing of soy beans, soy-oil and soy-meal is recovering from the impact of sanctions, Hamburg-based oilseeds analysts Oil World said on Tuesday.
Thousands of New York Metropolitan Transportation Authority workers began on Tuesday to fan out through the system to inspect and begin repair of the damage caused by Hurricane Sandy, a massively destructive storm of historic proportions.
A year ago the administration of President Cristina Fernandez imposed the first of a long chain of foreign money exchange restrictions that have caused a serious impact on the economy, the private sector and other provincial and city governments.
Australia’s Petrel Energy is getting involved in Uruguay after taking a stake in a private US player which also gives it a presence in Spain. The Sydney-based explorer said its 25% stake in Schuepach Energy International (SEI) gives the company a shot at unearthing “company-making” large scale oil and gas discoveries.
Municipal elections are over and the Brazilian government had a good performance at the polls having recovered among others the City of Sao Paulo, but contrary to investors’ expectations, the country’s oil and gas corporation Petrobras will not be hiking gasoline prices in the immediate future.