Wednesday, October 12th 2011 - 06:39 UTC

Falklands Desire Petroleum and Rockhopper reach farm-out agreement and on new drillings

A well will be drilled during the current campaign using the Ocean Guardian rig.

Falkland Islands Desire Petroleum plc announced Wednesday that it has agreed the terms of a farm-out agreement, subject to the approval of the Falkland Islands Government, with Rockhopper Exploration PLC over the northern section of its Tranche D (PL004) licence.

Wednesday, October 12th 2011 - 06:27 UTC

S&P and Fitch downgrade main Spanish banks ratings on “dimmed” prospects

“We no longer see 2012 as a turnaround year for Spanish banks” said S&P.

Spanish banks including Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA had their ratings cut by Standard & Poor’s, which cited “dimming” growth prospects and “heightened” market turbulence.

Wednesday, October 12th 2011 - 05:58 UTC

Uruguayan president on ten-day European trade and business tour

Mujica expects to promote trade and investments

Uruguayan president Jose Mujica left on Tuesday for a ten day visit to Europe that will take him to Sweden, Norway, Germany and Belgium, where he is expected to promote trade, investments and economic development.

Wednesday, October 12th 2011 - 05:56 UTC

Great moment for Latin America but “beware of complacency”

Garcia said the region’s governments are ‘scared’ of the magnitude of the Euro and US crises

Latin America is going through a “great moment” but can’t be complacent when the European Union and the US are facing major challenges, and the region must definitively address the large integration challenges, warned Enrique García, head of the Andean Promotion Corporation, CAF.

Wednesday, October 12th 2011 - 05:51 UTC

Sharp economic predictor selling his firm because it looses money

Nouriel Roubini forecasts a contraction for the US, EU and UK economies

Roubini Global Economics, the global investment research firm co-founded by doom and gloom economist Nouriel Roubini, is reportedly for sale, according to a report from CNBC.

Wednesday, October 12th 2011 - 05:46 UTC

Putin says Euro zone has sufficient resources and does not need BRIC aid

Russian Prime Minister Vladimir Putin said on Tuesday that the crisis-hit Euro zone had enough resources to resolve its own troubles without support from Russia and fellow BRIC countries.

Tuesday, October 11th 2011 - 23:34 UTC

Trichet warns EU sovereign debt has become “systemic”

The ECB president addressing EU Parliament committee

Europe's top financial watchdog warned Tuesday that the Euro zone's sovereign debt crisis has become systemic and threatens global economic stability unless decisive action is taken urgently.

Tuesday, October 11th 2011 - 08:27 UTC

Falklands’ Rockhopper latest well unconvincing but drilling campaign continues

“Ocean Guardian” will begin drilling 5.9 kilometres SW of the discovery well

Falklands’ oil explorer Rockhopper said the latest well in its controversial drilling campaign in the South Atlantic Islands has come up dry.

Sunday, October 9th 2011 - 09:56 UTC

China's JAC motors to build factory in Brazil, hoping to avoid higher import taxes

The factory should be operational by 2014

Chinese automaker JAC Motors announced Friday it will invest 500 million dollars to build a factory in Brazil's north-eastern Bahia state its first outside China.

Thursday, October 6th 2011 - 08:48 UTC

Brazilian president promises to boost investment with Bulgaria, her ancestral homeland

The Brazilian president received a hero’s welcome in Sofia.

Brazilian President Dilma Rousseff pledged to raise investment in Bulgaria, her ancestral homeland, in renewable energy, aviation and the oil industry.


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