Investments

Investments
Thursday, April 7th 2016 - 09:20 UTC

MSC Cruises orders four more ships from French shipyard STX in 3.6bn Euro deal

The companies signed a letter of intent at Elysee palace, reflecting the importance placed on the investment for President Francois Hollande employment policy

French shipyard STX has secured an order for up to four more ships from MSC Cruises, in a 3.6 billion-Euro (US$4.1 billion) deal announced on Wednesday. MSC Cruises, part of privately owned shipping group MSC, has in recent years been the main customer for STX France, which is based at the Atlantic port of Saint-Nazaire.

Thursday, April 7th 2016 - 08:49 UTC

Britain's choice: economic security with the EU, or a leap into the dark

Leaving the single market would also hit our service industries hard – and this is where our economy faces the biggest risk.

By PM David Cameron - Prime Minister David Cameron wrote an article on the UK's economic security within the EU for The Telegraph. Imagine a world where a British airline wasn’t allowed to fly between Rome and Paris; where British farmers were slapped with a tariff if they wanted to export more beef to Europe; and where great British telecoms companies and car manufacturers faced new barriers when trying to sell their goods and services to customers in Europe.

Monday, April 4th 2016 - 04:12 UTC

Petrobras launches voluntary layoff program to cut 12.000 jobs

Investors have long criticized Petrobras for over hiring and struggling to cut some of the 57,000 people it directly employs when things get tough.

Brazil's embattled oil company Petrobras said it will launch a voluntary layoff program to cut an estimated 12,000 jobs in a bid to save up to 33 billion reais ($9.20 billion) by 2020. The program will cost 4.4 billion reais and is open to all employees, according to a statement from Petrobras, which has been hard hit by low oil prices, refinery project problems and a massive price-fixing, bribery and political kickback scandal.

Saturday, April 2nd 2016 - 08:07 UTC

Argentina and China reaffirm strategic relation and agree to review contracts

The meeting of the two delegations headed by presidents Macri and Xi Jinping in Washington

China has agreed to review contracts signed with Argentina, which need modifications, for the sake of transparency, according to Buenos Aires sources, but the overall strategic relation between the two countries and a raft of accords in different fields stands and is expected to continue to grow.

Friday, April 1st 2016 - 07:44 UTC

UK at Chile's Air and Space Fair offering a significant range of defense products

This significant UK presence reflects the strong commitment that UK companies have to Chile, the Armed Forces and the region.

Partnership, disaster relief, industrial cooperation and innovation are the main UK themes as UK companies exhibit a range of world beating defense capabilities at Chile's FIDAE 2016, some attending for the first time, others as a result of having exhibited at a successful FIDAE 2014.

Friday, April 1st 2016 - 06:07 UTC

Total/Exxon/Mobil drilling offshore Uruguay a record-deep well; first since 1976

The well was spud at the “Raya/1” prospect in Block 14 by the Maersk/Venturer drilling ship

A consortium led by France's Total and U.S.-based super major ExxonMobil Corp started this week drilling for oil off Uruguay, Industry, Energy and Mining Minister Carolina Cosse announced. Uruguay is totally reliant on imports for its oil and has for decades tried to discover possible hydrocarbons resources both in the continent and offshore.

Friday, April 1st 2016 - 01:30 UTC

Falklands bid farewell to Sea King Helicopters

The local community came to meet and greet the new AAR SAR Helicopters and crew who will replace the RAF Sea King Helicopters.

The Falkland Islands community bid farewell to two Search & Rescue (SAR) helicopters today after over three decades of service. Both the two RAF Sea King helicopters were brought to the capital Stanley today for the local community to say goodbye, as well as meet the crew who man the aircraft. The new AAR helicopter, which will replace the existing RAF SAR service, was also present at the farewell today.

Friday, March 25th 2016 - 05:26 UTC

Unemployment in Brazil reaches 9.5%, the highest level since 2012

The number of people out of work by the end of January rose to 9.6 million — up 6% from the previous three-month period.

Unemployment in Latin America's largest country is at its highest level since 2012, the Brazilian government said on Thursday. Brazil's IBGE statistics bureau said that the jobless rate in the three months through January was 9.5%, compared to the 6.8% in the same period one year ago.

Friday, March 25th 2016 - 05:20 UTC

US government supports Argentine appeal to lift injunctions in its debt dispute

The announcement was made on Thursday, as Barack Obama ends a two-day visit to Argentina during which he expressed his firm support to Macri's administration

In another display of support for the Argentine administration of president Mauricio Macri, the government of the United States affirmed it has “significant foreign policy interests” in finding a “rapid” resolution to the long-standing dispute between Argentina and bondholders.

Thursday, March 24th 2016 - 02:03 UTC

Brazilian Supreme Court emerges with a decisive role in the institutional crisis

“The goal of the falsity is clear: to prevent the carrying out of an arrest order,” against Lula that is under consideration by a lower court, wrote Gilmar Mendes

The Brazilian government's efforts to have former president Lula da Silva into the cabinet of president Dilma Rousseff will have to wait until next 30 March when the Supreme Court is scheduled to hold its next full meeting. The political upheaval and simultaneous legal back-and forth has reached such a pitch that it inspired a bleakly funny website, lulaeministro.com, or “Is Lula a minister?” The site shows only the former president’s face and the words, “At this moment, No.” (Or yes, depending).

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