Latin America

Latin America
Saturday, April 11th 2015 - 05:45 UTC

'Malvinas', center piece of Cristina Fernandez speech at Panama summit

 'Militarization' of the Falklands and UK alleged spying on Argentina, will have priority in the Argentine leader's speech, anticipate Buenos Aires sources

Argentine President Cristina Fernandez is attending the VII Summit of the Americas in Panama City where she is expected on Saturday to strongly criticize the United Kingdom over the 'militarization' of the Falklands/Malvinas and revelations of massive espionage of Argentina by London.

Friday, April 10th 2015 - 07:14 UTC

Cuba and US hold historic meeting at highest level in Panama

Few details have emerged from the meeting between Kerry and Rodriguez. The last comparable event was in 1959, between Fidel Castro and  Richard Nixon.

US Secretary of State John Kerry and Cuban Foreign Minister Bruno Rodriguez have held talks, in the highest level meeting between the two countries in more than half a century. The two were involved in closed-door discussions after arriving in Panama for a summit.

Friday, April 10th 2015 - 05:26 UTC

Fitch Ratings lowered Brazil's investment grade outlook to negative

“Brazil's three-year growth average of only 1.5%, compared to the 'BBB' median of 3.2%, highlights the structural nature of the under-performance,”

Fitch Ratings lowered Thursday the outlook on Brazil's investment grade BBB rating to negative, warning that government efforts to turn around the economy risked getting derailed. The Brazilian economy, the world's seventh-largest, stagnated with just 0.1% growth last year as the drag of rising inflation erased the effect of hosting the football World Cup in June and July and gearing up for the Rio Olympics next year.

Friday, April 10th 2015 - 05:24 UTC

Rousseff declares Petrobras 'clean' after purging corrupt managers and practices

”Petrobras is still standing. It has cleaned up what it had to clean up and got rid of those who took advantage of their positions to enrich themselves,'' Rousseff said

Brazil's State-run oil company Petrobras has purged corrupt managers and put a graft scandal behind it, while hitting record output levels from offshore deposits, President Dilma Rousseff said Thursday. The indictment of former senior executives of Petrobras the investigation of dozens of political allies of Rousseff in the multibillion-dollar kickback scandal has thrown her government into crisis and undermined investor confidence in Brazil.

Friday, April 10th 2015 - 03:00 UTC

Falklands' bumper year for Illex squid predicts fisheries scientist

Illex squid catches caught this season are already 150,000 tons. Last year the fishery had a record catch of over 306,000 tons.

The Falkland Islands are set to have another bumper year of Illex squid catches with 150,000 tons already caught this season. Last year the fishery had a record catch of over 306,000 tons. It is, “a record catch at this point in the season, at least in the last 25 years of the fishery” Senior Scientist at the Falkland Islands Fisheries Department Dr Sasha Arkhipkin, told Penguin News.

Friday, April 10th 2015 - 00:25 UTC

Five Falklands' oil companies accused of violating Argentine law and UN resolutions

CFK accused the companies of “carrying out hydrocarbon exploration activities on Argentina's continental shelf without obtaining the corresponding authorization”

Argentina's government on Thursday formally accused five oil companies of conducting illegal exploration work off the British-ruled Falkland Islands, which Buenos Aires claims as its own. The companies are Britain's Rockhopper Exploration plc, Premier Oil plc and Falkland Oil and Gas Ltd; Houston-based Noble Energy Inc.; and Italy's Edison International SpA, Argentina's Foreign Ministry said in a statement.

Thursday, April 9th 2015 - 07:01 UTC

U.S. should back the Falkland Islanders’ Right of Self-Determination at the Summit of the Americas

Like all of the other British Overseas Territories, the Falkland Islands have chosen not to be completely independent, but they are self-governing.

By Luke Coffey and Nile Gardiner, Ph. D. (*)

The Organization of American States (OAS) will hold the seventh Summit of the Americas in Panama City, Panama, on April 10–11, 2015. In the past, Canada has been alone in supporting the Falkland Islanders’ right of self-determination in the OAS.

Thursday, April 9th 2015 - 04:24 UTC

Royal Dutch Shell buys BG Group for £47 Billion. Becomes main foreign oil producer in Brazil

Ben van Beurden, CEO of Shell and Andrew Gould, Chairman of BG Group shake hands as Shell and BG their takeover deal at the London Stock Exchange

Oil and gas company Shell has agreed to buy British rival BG Group for the equivalent of 70 billion dollars, making Europe's largest oil company the pre-eminent player in global natural gas and adding world-class fields in Brazil. The deal may signal a new wave of mega-mergers as the energy industry tries to adapt to lower prices.

Thursday, April 9th 2015 - 03:28 UTC

Brazilian ruling coalition members sign letter pledging to support austerity package

Rousseff's unruly coalition pledged in a letter to support her austerity package, a deal  brokered by Vice President Michel Temer as the link between Executive and congress

Brazilian congressional leaders within President Dilma Rousseff's coalition signed a joint letter on Wednesday pledging to support her austerity package, an unexpected sign that the ties with her unruly coalition are improving. The deal was brokered by Vice President Michel Temer on his first day as the official go-between tasked with mending Rousseff's tense relations with coalition lawmakers.

Thursday, April 9th 2015 - 02:45 UTC

With the end of commodities prices 'super-cycle', UN panel lowers Latin American growth forecast to 1%

Meanwhile, the end of the so-called “super-cycle” in commodity prices is affecting several countries in the region negatively.

The Economic Commission for Latin America and the Caribbean (ECLAC) has revised downward its economic growth projection for the region in 2015, forecasting a 1.0% increase in the regional Gross Domestic Product (GDP), the United Nations organization said today in a press release.

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