Economy

Economy
Friday, August 15th 2014 - 06:34 UTC

Mujica, Latin America's most original leader according to The Economist

As president he has kept the mainly free-market economic policy, has respected media freedom and judicial independence

Under the heading of “The sage of Montevideo”, The Economist visited the Uruguayan president at his farmhouse in the outskirts of Montevideo where they had a long chat.

Friday, August 15th 2014 - 02:26 UTC

All phone calls inside Chile become local; Punta Arenas code area is 61

“We're advancing in our project of bringing together all Chileans. It's a strong connectivity step which benefits families and companies” said Gomez Lobo.

Chile has become a single territory for telecommunications and long distance calls with different rates for fixed lines will no longer exist beginning Saturday. This in practical terms will also means a 50% reduction on normal phone calls.

Friday, August 15th 2014 - 02:24 UTC

YPF announces new shale oil find in Neuquen-Mendoza area

”It's the third time we've discovered oil at a non-conventional (shale) well,” said Galuccio

Argentine state-controlled energy company YPF on Thursday announced a shale oil find in the southwestern province of Neuquen in Patagonia. The discovery was made at the Agrio formation, according to CEO Miguel Galuccio, who said at a press conference that production operations will be carried from the neighboring province of Mendoza.

Friday, August 15th 2014 - 02:21 UTC

Last minute decision saved Marina Silva from travelling with Campos

Marina's conservationist advocacy has earned the wrath of Brazil’s agribusiness, but she also appeals to conservative voters with her defense of family values

Environmental activist and politician Marina Silva could have been on the plane that crashed on Wednesday and killed presidential candidate Eduardo Campos and six other occupants.

Friday, August 15th 2014 - 02:18 UTC

WHO downplays panic: air travel is low-risk for Ebola transmission

”Unlike infections such as influenza or tuberculosis, Ebola is not airborne,” says Dr Isabelle Nuttall, Director of WHO Global Capacity Alert and Response.

The World Health Organization reiterated its position that the risk of transmission of Ebola virus disease during air travel remains low. “Unlike infections such as influenza or tuberculosis, Ebola is not airborne,” says Dr Isabelle Nuttall, Director of WHO Global Capacity Alert and Response. “It can only be transmitted by direct contact with the body fluids of a person who is sick with the disease.”

Friday, August 15th 2014 - 02:15 UTC

Unasur Montevideo summit planned for next week, suspended until October

At the summit Surinam will hand over the pro tempore presidency to Uruguay and Ernesto Samper is to be confirmed as next Secretary General

A planned presidential summit between the heads of state of the Union of South American Nations (Unasur) has been suspended due to scheduling conflicts amongst member countries, according to the Uruguayan Foreign Ministry.

Thursday, August 14th 2014 - 06:44 UTC

Aurelius Capital confirms no deal with banks on Argentina's bonds

“Argentine officials made a cynical and cold decision in letting the country default, the worst is yet to come”, said Mark Brodsky from Aurelius

Argentine holdout creditor Aurelius Capital Management has said that after talks with many financial institutions, the prospects for finding a private-settlement solution to the Argentine sovereign debt dispute had garnered no realistic proposals.

Thursday, August 14th 2014 - 06:34 UTC

Talks between global banks and Argentine creditor hedge fund “collapsed”

Elliott Management hedge fund and JPMorgan, Citigroup, HSBC, and Deutsche Bank were in negotiations

Talks between a group of global banks and at least one major hedge fund about buying a portion of the fund's exposure to Argentine debt have collapsed, a person familiar with the matter told sources in Buenos Aires, amid concerns that the Argentine government has dug in to its refusal to pay certain creditors what they are owed and may not relent for months to come.

Thursday, August 14th 2014 - 06:11 UTC

Argentina: US dollar reaches a new record of 13.15 Pesos in Buenos Aires 'blue' market

The market fears that central bank president Fabrega might have lost the battle with Kicillof (R)

The US dollars climbed to a record 13.15 Pesos on the black or 'blue' market on Wednesday trading as fears mount regarding the outcome of the holdout bonds conflict with the New York court. The official dollar rate closed at 8.2750 Pesos.

Thursday, August 14th 2014 - 05:41 UTC

US Nevada court grants 'holdouts' discovery rights into assets of Kirchner family friends

“Campagnoli authored a report stating that Baez laundered 65 million dollars through 15 Nevada corporations”

The hedge fund Elliott Management secured a victory on Tuesday in its pursuit of Argentine assets abroad, as a court in the US state of Nevada granted the corporation discovery rights to 123 companies allegedly linked to the Santa Cruz public works tycoon Lazaro Baez, and believed to be closely linked to the Kirchner family.

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