International

International
Friday, February 27th 2015 - 08:29 UTC

Trelew in Patagonia and Caernarfon in Wales to be linked as 'sister-cities'

Trelew was founded by Lewis Jones in the 1860s with the arrival of the first Welsh settlers

Trelew in Argentine Patagonia and Caernarfon in Wales will be linked as 'sister-cities' during a ceremony scheduled for next Saturday, attended by Lord Dafydd Wigley and a Welsh delegation visiting the country in anticipation of this year's 150th anniversary of the first Cymru settlement in southern Argentina.

Friday, February 27th 2015 - 05:46 UTC

Argentine Congress approves 'strategic integral alliance' agreements with China

Cristina Fernandez with Xi Jinping during her recent visit to China when she signed the raft of agreements

Despite the strong questioning from the opposition, the manufacturers' lobby and many unions, the Argentine ruling coalition mustered sufficient votes in the Lower House to pass the controversial package of cooperation, economic and investment agreements between Argentina and China.

Thursday, February 26th 2015 - 23:21 UTC

Gibraltar's vital role for the US Navy's operations is underlined

 ”The US cannot dock nuclear powered submarines in Spain making access to Gibraltar’s Z berths vital,” according to the Heritage Foundation report

Gibraltar plays a ‘vital’ role for the US Navy’s submarine operations at a time of increased Russian naval activity, a US think tank said. The Heritage Foundation made the statement in its Index of US Military Strength 2015, a wide-ranging annual research project that assesses the ability of the United States Armed Forces.

Thursday, February 26th 2015 - 17:30 UTC

Is oil returning to 100 dollars or dropping to 10?

Put simply, supply has increased faster than demand, so a rapid return to oil over $100/Barrel looks extremely unlikely

If you have been following the price of oil over the last few months, the chances are you're a little confused. On the one hand you have the likes of A. Gary Shilling who, in this Bloomberg article, loudly trumpets the prospect of oil at $10/Barrel, and on the other there is T. Boone Pickens, who, at the end of last year was predicting a return to $100 within 12-18 months.

Wednesday, February 25th 2015 - 16:41 UTC

The easy oil is gone so where do we look now?

The 'shale revolution' has seen U.S. shale oil production soaring from 600,000 barrels a day in 2008 to 3.5 million barrels a day in 2014

In 2008, Canadian economist Jeff Rubin stunned the oil market with a bold prediction: With the world economy growing at 5% a year, oil demand would grow with it, outpacing supply, thus lifting the oil price from $147 to over $200 a barrel.

Wednesday, February 25th 2015 - 05:01 UTC

China prepared to help Argentina recover its air force with new fighter jets

China's JF-17 fighter partnership in Pakistan has proven a moderately successful pilot for production programs.

China has agreed to supply Argentina with new fighter jets that will replace its aging fleet of single-engine Dassault Mirage planes. Defense experts said two types of China-developed fighters are likely candidates: the Chengdu Aircraft Corporation-built FC-1/JF-17 and the J-10, according to a report from Chinatopix.

Wednesday, February 25th 2015 - 04:38 UTC

German court rules against Argentina on bonds' interest payments

Presiding Judge Hans-Ulrich Joeres said there were no collective action clauses allowing a restructuring by majority in the Deutsche Mark denominated bonds

Argentina lost a ruling at Germany’s top civil court over interest payments on bonds it sold to investors in the European country that don’t have terms that allow for restructuring by a majority vote of creditors, according to a report from Bloomberg at Karlsruhe.

Wednesday, February 25th 2015 - 04:33 UTC

HSBC reports 17% fall in annual pretax profit; 3.7bn provision for settlements and fines

CEO Gulliver: “A number of us, myself included, think the practices of the private bank back in the past are a source of shame and reputational damage to HSBC”

HSBC reported a 17% fall in annual pretax profit and cut its profitability target, saying allegations its Swiss business had helped customers to dodge taxes had brought shame on the bank. Results from Europe's biggest bank reflected the cost of past misconduct and of protecting itself against the impact of further scandals.

Wednesday, February 25th 2015 - 04:23 UTC

HSBC singles Brazil, Mexico and U.S. as 'problem areas': 12/24 months to prove their worth

By assets HSBC is seventh-largest bank in Brazil; fifth-largest in Mexico and 12th-largest in the U.S. But in terms of profits they are dwarfed by Asia.

HSBC singled out three large markets in the Americas, Brazil, Mexico and the U.S., as problem areas in which its businesses need to shape up or face restructuring, including possible asset sales. “We're talking of 12 to 24 months”.

Wednesday, February 25th 2015 - 04:07 UTC

Falklands' war zone coverage controversy rages in US media; Fox to the rescue of O'Reilly

Fox News Chairman and C.E.O. Roger Ailes and all senior management are in full support of Bill O’Reilly,” the spokeswoman said.

Controversy over the coverage by US reporters of the 1982 Falklands conflict continues to rage in US media, since Fox News top star Bill O'Reilly admitted that at the time, working for CBS News, he was based in Buenos Aires, far from the 'war zone' as he had characterized his task.

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