Wednesday, June 11th 2014 - 01:16 UTC

Chilean government rejects major mega-energy project in Patagonia

The project called for building five dams on the Pascua and Baker rivers in Patagonia to generate electricity

A panel of Chilean Cabinet ministers voted unanimously on Tuesday to reject the 3.2 billion dollars HidroAysen mega-project, which envisioned the construction of five power-generating dams in the environmentally sensitive Patagonia region.

Monday, June 9th 2014 - 06:10 UTC

US Embassy praises Argentina: says 'investment climate has started to change'

“People from the private sector tell me that they are receiving more and more phone calls”, said Kevin Sullivan

The United States Chargé d'Affaires at the Embassy In Buenos Aires Kevin Sullivan, who is in charge of the embassy on an interim basis, praised Argentina’s agreement with Paris Club, ICSID and YPF-Repsol deal, saying “the situation is changing, in a good way” and pointing out a change in investment climate.

Friday, June 6th 2014 - 08:49 UTC

Countdown for Argentina's decisive litigation with hedge funds; IMF concern

Next 12 June the US Supreme Court will consider if it takes the Argentine case

The International Monetary Fund expressed “concern” on Thursday over the outcome of Argentina's 'vulture funds' case. The US Supreme Court is scheduled to consider on June 12 whether to hear Argentina's appeal of rulings requiring it to pay the holdout bondholders back in full.

Thursday, June 5th 2014 - 07:15 UTC

Dilma claims FIFA had pledged that stadiums would be built with private funds

The president said she would advise future host countries to “be very careful about the 'responsibility matrix'” they sign with FIFA

As Brazil rushes to finish stadiums and deal with a wave of protests ahead of the June 12 kick-off, president Dilma Rousseff partly blamed FIFA for the spiraling World Cup bill but said the money spent would leave a positive legacy.

Wednesday, June 4th 2014 - 20:26 UTC

Falklands' welcomes rig-contract which marks beginning of oil drilling season in first quarter of 2015

“FIG looks forward to working closely with the oil industry to deliver a safe and successful campaign”, said Luxton

The Falkland Islands Government welcomed the announcement on Thursday morning that a drilling rig has been contracted by a consortium of licensees for a new six-well program of offshore exploration and appraisal work commencing in early 2015.

Wednesday, June 4th 2014 - 09:03 UTC

Timid S&P ignores Moody's and leaves Uruguay' risk rating unchanged

Uruguay with a small and open economy is exposed to vulnerabilities emerging from a region which is “experimenting economic stress”

Standard & Poor's (S&P) decided on Tuesday to maintain Uruguay's sovereign debt risk rating unchanged at the lowest investment grade BBB-, because although it has solid growth prospects, predictable policies and a favorable debt profile, the country still has limited fiscal and monetary flexibility and lives in a neighborhood experimenting 'economic stress'.

Wednesday, June 4th 2014 - 08:58 UTC

Mexico's Pemex sells its majority stake in Repsol over management disputes

The Mexican government wanted Brufau ousted of his leading post

Mexico's state-owned oil giant Pemex has sold the majority of its stake in Spanish energy firm Repsol for approximately 2.2bn Euros with the intervention of Citigroup and Deutsche Bank. Pemex has been a shareholder in Repsol for more than 25 years.

Tuesday, June 3rd 2014 - 06:03 UTC

With help from FIFA, the stadium opening the World Cup approved the test

Itaquerao or the Corinthians Arena will host the opening match of Brazil with Croatia on June 12

A less-than-capacity crowd at Sunday’s final World Cup test event at the Itaquerao venue in Sao Paulo means it will host a full crowd for the first time at the tournament opener.

Saturday, May 31st 2014 - 07:55 UTC

The 'morality' of the Argentina/Paris Club deal is that it's 'a shared effort'

“We have agreed on minimum payments that will increase if new investments come to Argentina, said Kicillof

Argentina's Economy minister Axel Kicillof gave details on Friday of the payment agreement reached with the Paris Club involving 9.7bn dollars of 2001 defaulted debt, which will open the doors to export credit agencies from the group's members and equally important signals a new attitude from the Cristina Fernandez administration.

Saturday, May 31st 2014 - 07:03 UTC

US Chamber of Commerce delegation on potential business tour of Cuba

“We are learning a lot about the changes taking place in Cuba,” said Mr. Donohue

A delegation from the American Chamber of Commerce has begun its first visit to Cuba in 15 years. Chamber president Thomas Donohue said he was in Cuba to assess the economic changes taking place under President Raul Castro.


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