Brazilian president Dilma Rousseff said during a joint conference with her Argentine peer Cristina Fernández at Government House in Buenos Aires that she was certain the Vale mining company “would find a way to reach an agreement with the Argentine authorities” on the suspended project.
Argentina’s industrial output registered a 0.3% drop in March year-on-year, according to Indec the official statistics bureau. The report stated that the manufacturing activity climbed 1.5% compared to February and dropped 0.4% annually in the first three months.
Canada’s Barrick Gold Corp making a painful adjustment to a sustained slump in bullion prices, reported progress in controlling costs and said it planned further cuts in capital spending.
Two US hedge funds suing Argentina for full payment on defaulted bonds rejected on Friday, President Cristina Fernandez government offer to settle the suit with a deal that would give them approximately 25% of what they were seeking.
Falkland Islands Holdings, which owns the Falkland Islands Company, FIC, expects to report a slight fall in annual profits but anticipates a quantum leap in the Falklands’ economy over the next decade with the oil industry and the commencement in 2014 of the Sea Lion project.
UK independent oil and gas Premier Oil company said that the Falkland Islands Sea Lion project is one of their biggest operations undertaken to date involving an investment of 5 billion dollars with first oil expected sometime in 2017.
‘The Argentine joke’ and Cristina Fernandez as Pinocchio, headlines of Brazil’s influential magazine Veja
One of Brazil’s most influential magazines and with the largest circulation, Veja, included a controversial piece which questions Argentina’s economic and social statistics than come under the responsibility of the non less famous Indec.
Gold futures plunged more than 9% on Monday, marking the biggest one-day percentage fall in 30 years and extending losses over the past two sessions to more than 13%, as the precious metal pushed deeper into bear market territory. The June contract for gold settled at 1,361.10 dollars an ounce on the Comex division of the New York Mercantile Exchange, 140.30 or 9.3% lower than the previous session's close.
Denouncing election irregularities, Venezuelan opposition candidate Henrique Capriles Radonski demanded a recount and said early Monday that he will not recognize the country's presidential results ”until every vote is counted”. His comments came less than an hour after officials said the man former Venezuelan President Hugo Chavez handpicked to be his successor had won the country's presidential vote.
By Mike Summers (*)
The reports on the reaction in the United Kingdom to the death of Baroness Thatcher have shown a clear contrast between those who approved of her policies and those that did not. This is understandable and is no doubt true of any prime minister. However, here in the Falkland Islands there is very little difference of opinion. Margaret Thatcher is held in high regard and with deep affection by Islanders, for she is someone to whom we owe much.