Friday, January 16th 2015 - 05:23 UTC

YPF increased output during 2014; refinery strike threatens supply of fuel

The results testify to the sustained work of YPF over the past 3 years that has managed to reverse the decline and maintain production growth, said the release

YPF's oil and natural gas production rose in 2014 for the second year running, Argentina's state-run energy company said on Thursday. Oil production rose 8.7% last year, while gas output was up 12.5%, YPF said, although the company did not publish annual output volume.

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 - 05:09 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.

Tuesday, January 13th 2015 - 08:36 UTC

Cristina Fernandez to Beijing in February; more financial support from China

Xi Jinping and Cristina Fernandez in Buenos Aires when the bilateral relation was upgraded to a “comprehensive strategic association”

Argentine President Cristina Fernandez will be travelling to Beijing next month, reciprocating a visit from her Chinese counterpart Xi Jinping last July, it was officially announced by chief of staff Jorge Capitanich. The meeting was anticipated last Friday in a meeting of the two countries foreign ministers on the sidelines of the CELAC/China ministerial forum held last week in Beijing.

Sunday, January 11th 2015 - 11:39 UTC

Rousseff orders ministries to cut spending by a third

The Brazilian president is committed to send a strong message to investors

Brazilian President Dilma Rousseff has instructed a budget cut which affects 39 ministries, reducing their funds by a third, in order to save a figure estimated at 703 million dollars per month.

Saturday, January 10th 2015 - 06:44 UTC

Argentina's comprehensive strategic (and vital) association with China

Cristina Fernandez toasting with President Xi Jinping last July when he visited Argentina as part of a Latin American tour

Argentina and China entered a new phase of their relationship in July last year after upgrading it to a “comprehensive strategic association” and signing a battery of agreements, which include a 4.7 billion investment in hydroelectric dams, 2.09 billion in the renovation of the rail system and an 11 billion currency swap.

Saturday, January 10th 2015 - 06:41 UTC

China pledges 250bn in investments and 500bn in bilateral trade with Latam

President Xi emphasized the positive signal to the world about deepening cooperation between China and Latin America

Chinese President Xi Jinping pledged on Thursday 250 billion dollars in investment in Latin America over the next five years as part of a drive to boost resource-hungry China’s influence in the region.

Saturday, January 10th 2015 - 06:22 UTC

Significance of China for Latam trade and investment underlined by Eclac

“It is vital for the region to forge closer strategic ties with China in order to attract more Chinese foreign direct investment”, said Ms Barcena

The importance of forging closer strategic ties between China and Latin America was underlined by Alicia Barcena, Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), in her speech to the China-Community of Latin American and Caribbean two-day ministerial forum that took place in Beijing.

Saturday, January 3rd 2015 - 06:07 UTC

Panama Canal planning major transshipment port on the Pacific entrance

The new facility will increase inter-oceanic cargo traffic consolidating Panama’s position as an international logistics and maritime hub, said Quijano.

The Panama Canal Board of Directors this week formally approved the development and construction of a transshipment port in Panama’s Corozal region. Upon completion, the port will have the capacity to handle more than five million TEUs within a 120-hectare area at the Canal’s entrance to the Pacific. The project is now awaiting the final step for approval from Panama’s National Assembly.


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