Thursday, January 15th 2015 - 08:13 UTC

Five ways to play the oil price plunge

The cost of finding and “lifting” a barrel of oil out the ground varies between $16.88 in the Middle East to $51.60 offshore in the United States

The collapse of the oil price has created losers and winners, and like every major movement in a commodity sector, the trick for investors is figuring out which side of the trade to be on.The most obvious victim of the slide in Brent and WTI prices over the last 6 months has been the major oil producers. Holders of these equities have seen price slides up to 33%.

Thursday, January 15th 2015 - 07:56 UTC

Mexico's Slim poised to become New York Times Co. largest shareholder

When Slim agreed to loan Times Co. money in 2009, the company had just cancelled its dividend to preserve cash and a credit line was set to expire.

Mexican billionaire Carlos Slim is poised to become the largest shareholder in the New York Times Co. after already almost doubling his money from an investment that helped the newspaper get through the financial crisis.

Thursday, January 15th 2015 - 05:42 UTC

Argentine government bluntly rejects 'Iran cover up' accusation as 'nonsense'

Anibal Fernández said the complaint filed by Nisman “is baseless” and added that “filing a complaint against the president for using her constitutional powers is nonsense.”

Argentina's Presidency Secretary General Anibal Fernandez bluntly rejected the accusations by the prosecutor in the AMIA bombing probe against president Cristina Fernández, foreign minister Hector Timerman and other Kirchnerite officials for allegedly “covering up” Iranian citizens in the investigation.

Thursday, January 15th 2015 - 05:32 UTC

Argentine president accused of 'covering up' Iran's role in Buenos Aires deadly attack

Prosecutor Nisman is seeking to question Fernandez and Timerman, under oath in connection with the car-bomb blast outside the HQ of the AMIA organization.

An Argentine federal special prosecutor on Wednesday accused President Cristina Fernandez of seeking to cover up the involvement of Iran in a 1994 terrorist attack on a Jewish cultural center in Buenos Aires that claimed 85 lives and 300 injured.

Thursday, January 15th 2015 - 05:09 UTC

Premier drastically cuts spending; Falklands projects included in 2015 agenda

The company is reducing investments to develop fields by 40% to around U$S 600 million and is renegotiating rates with suppliers of top 25 projects.

UK hydrocarbons producer Premier Oil with strong interests in the Falklands expects to book a 300 million dollars impairment charge due to the plunge in oil prices and plans to cut jobs and investment by 40% compared to 2014, to rein in costs, it said on Wednesday.

Wednesday, January 14th 2015 - 22:46 UTC

Chinese jet fighters, an option to re-equip the Argentine Air Force

The FC-1/JF-17’s, 'Thunder' or 'Fierce Dragon' is a lightweight, single-engine, multi-role combat aircraft developed jointly by Pakistan and China

China has emerged as a possible supplier of jet fighters to help modernize the Argentine Air Force, depleted since the 1982 Falklands' war, according to reports from Defense News. In effect the FC-1/JF-17’s, 'Thunder' operational with the Pakistani air force and proven in combat could be a suitable, accessible option for the Argentines after the Spanish, French, Israeli offers seem to have fallen through.

Wednesday, January 14th 2015 - 09:31 UTC

World Bank cuts 2015 global growth forecast; however lower oil prices will delay rate hikes

Ayhan Kose described the world economy as “disappointments we saw in 2014, divergences we are observing around, and expectations going forward.”

The World Bank on Tuesday cut its global growth forecast for 2015 and lowered the estimate for 2014, as several headwinds mitigate the effects of an improving U. S. economy and plunging oil prices.

Wednesday, January 14th 2015 - 07:47 UTC

OPEC member stands by group's decision not to cut output to tackle glut

United Arab Emirates' oil minister, Suhail bin Mohammed al-Mazroui, said that OPEC's November decision not to cut output had been the right one.

Brent and US WTI crude oil prices fell to their lowest levels in almost six years on Tuesday as a big OPEC producer stood by the group's decision not to cut output to tackle a glut in the market.

Wednesday, January 14th 2015 - 07:30 UTC

Paris killings deepen Islam controversy in Germany with rallies in several cities

In Dresden the weekly anti-Islam rallies started last October organized by a group called the Patriotic Europeans against the Islamization of the West (Pic AP)

Thousands of Germans turned out for an anti-Islam rally on Monday in Dresden, where some protesters wore black ribbons to show their solidarity with the 17 victims of last week’s terror attacks in Paris.

Wednesday, January 14th 2015 - 07:19 UTC

New Zealand navy detects three toothfish poachers red-handed in the Ross Sea

“Yongding”, “Kunlun” and “Songhua” are flagged in Equatorial Guinea and could be linked to the Spanish-based syndicate, Vidal Armadores S.A.

The New Zealand navy has discovered a third boat fishing illegally. The Foreign Ministry informed that the HMNZS Wellington caught another vessel, “Yongding”, to the west of the Ross Sea, in Antarctic waters.


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