Investments

Investments
Thursday, September 25th 2014 - 05:11 UTC

US dollar brushes 16 Argentine Pesos, settles at 15.95; monthly devaluation 12.4%

Uncertainty about government policies is plunging the Argentine currency

The informal rate for the US dollar in Argentina kept climbing on Wednesday and after brushing 16 Pesos, finally closed 53 cents higher at 15.95 Pesos, while the gap with the formal dollar soared to 89%. Distrust with government policy, plain speculation and hikes in the stock exchange rate were blamed for the situation.

Thursday, September 25th 2014 - 05:06 UTC

Argentina publicly adds Germany to its list of 'hostile countries'

Finance Minister Wolfgang Schäuble was quoted saying Argentina's debt policy was “a prime example of fiscal mismanagement”

Argentine Cabinet Chief Jorge Capitanich on Wednesday lashed out at Germany's finance minister, denouncing Berlin's “hostile attitude” toward Argentina's debt restructuring effort. He added that Germany had always had a hostile attitude toward Argentina from an economic and financial point of view.

Thursday, September 25th 2014 - 03:14 UTC

Brazil scrambles to support the Real; as Dilma recovers in the polls the currency falls

“The Real is facing strong downward pressure as Rousseff rises in the polls.”

Brazil’s Real advanced from a seven-month low as the central bank signaled it will maintain support for the currency when it increased the number of foreign-exchange swap contracts offered in a rollover.

Wednesday, September 24th 2014 - 15:55 UTC

Argentia economic situation can become 'harmful' for the region says Moody's

“Inflation, high interest rates and recession have forced Argentine consumers to cut expenses, which can impact negatively on the region

Credit ratings agency Moody's Investors Service has warned about the Argentine situation which can become “harmful” for Latin America, stating that the country's economy is in “decline” and qualifying current policies as “highly risky.”

Wednesday, September 24th 2014 - 15:50 UTC

WTO lowers global goods trade growth for this year and 2015

Tensions over Ukraine, a deepening Middle East conflict and increased panic caused by the Ebola outbreak have all clouded the forecast, the WTO said.

Global goods trade will grow less than hoped this year and next, and factors including regional conflicts and the Ebola outbreak are putting a quick return to stronger growth at risk, the World Trade Organization said today.

Wednesday, September 24th 2014 - 15:44 UTC

Marina blasts Dilma Rousseff for not supporting UN deforestation dead line initiative

“Our president did not sign in support of protecting those forests, which is regrettable and disappointing”, said Marina Silva

Environmentalist and presidential opposition candidate Marina Silva blasted Brazilian president Dilma Rousseff for not supporting an initiative to put a deadline on deforestation supported by 32 countries this Tuesday during the Climate summit in New York.

Monday, September 22nd 2014 - 04:16 UTC

Mujica brags on foreign policy; Latam ready to play a larger role in peace issues, Europe has lost clout

“Europe has lost clout, has fallen into 'military adventurism' and forcing sanctions only punishes the weakest and most vulnerable”, argued Mujica

Uruguay's president Jose Mujica said the latest world events show that Europe 'has lost clout' in global affairs, and has lost strength as 'peace mediator', and this role could be “much better performed by Latin America”.

Thursday, September 18th 2014 - 06:25 UTC

Developing oil field Libra off Brazil will cost 80bn dollars said France's Total

Libra, the first of Brazil's pre-salt fields to have been auctioned off, holds reserves estimated at between 8-12 billion barrels of recoverable crude

Brazil's biggest oil field, Libra, will cost 80 billion dollars to develop, according to a senior executive with France's Total, one of five consortium members participating in the project. Total's vice president of exploration and production for the Americas, Ladislas Paszkiewicz, made the estimate at the Rio Oil & Gas conference, which began Monday and runs through Thursday.

Thursday, September 18th 2014 - 05:03 UTC

Falklands oil company is ready to begin drilling at the end of 2015 first quarter

In all, FOGL expects to take part in a five-well drilling program that will target more than 1.3 billion barrels of oil off the Falkland Islands

Falkland Oil and Gas Limited (FOGL) reported this week that it is making progress with its preparations for its next drilling campaign, which is scheduled to start during the first quarter of 2015 off the South Atlantic Falklands Islands.

Wednesday, September 17th 2014 - 04:02 UTC

Brazil will hold new round of oil right auctions in the first half of 2015

The sale will be the first auction of concession rights since 2013 and third since 2008, when government halted annual oil-rights auctions to re-write its oil law

Brazil will hold a 13th round of oil rights auctions in the first half of next year in a sale that will include new areas in the country's promising Eastern Margin offshore region, a senior mines and energy ministry official said this week.

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