Monday, April 13th 2015 - 08:17 UTC

Uruguay/Brazil meeting to attempt an advance in Mercosur/EU trade talks

Rodolfo Nin Novoa revealed to the Uruguayan congress that this week he will be meeting with his counterpart and Mauro Vieira in Brasilia

Uruguay and Brazil foreign ministers Rodolfo Nin Novoa and Mauro Vieira will be meeting this week in Brasilia in yet another attempt to push forward the stalled negotiations for a trade agreement between Mercosur and the European Union, according to the minutes of a meeting of the Uruguayan official with members of the Foreign Affairs committee.

Monday, April 13th 2015 - 07:45 UTC

Mercosur footwear manufacturers want to stop the 'flood' of Asian shoe imports

“There's no way the import figures are compatible with an annual consumption of one pair of shoes in Paraguay, given the levels of poverty”, said Ramirez (Pic ABC)

Paraguay with a population of six million imports annually 25 million pairs of shoes, something considered 'incredible' and totally out of proportion with the economic situation and poverty levels of the country, claimed Mercosur members' footwear chambers and related industries.

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 - 03:09 UTC

“UK has no doubt about sovereignty over the Falklands and Islanders right to decide their future”

“We object strongly to recent statements by the Argentine president and the Argentine ambassador to London, and so summoned the ambassador to account for these”

The UK Foreign Office summoned Argentine Ambassador Alicia Castro to object recent remarks regarding the Falkland Islands by President Cristina Fernandez and the diplomat based in London. An FCO spokesperson said that Britain has no doubt about its sovereignty over the Falkland Islands and surrounding maritime areas, nor about the Falkland Islanders' right to decide their own future.

Friday, April 10th 2015 - 03:06 UTC

Uruguay considering extending length of oil exploration contracts

“If we find oil, there is no possible scenario in which this could be profitable and be developed” said de Santa Ana, ANCAP exploration manager

Uruguay is considering extending the length of its oil exploration contracts with foreign companies drilling in its waters in order to shore up investment at a time of plunging crude prices, it said on Wednesday. BP, BG Group, Total, a joint venture of Tullow Oil and Inpex, and a consortium of YPF, Royal Dutch Shell and Galp all have exploration agreements and have invested around $2 billion to date.

Friday, April 10th 2015 - 03:03 UTC

Argentina ordered to pay 405m dollars to nationalized Suez water works

The French group released a short statement indicating it accepted the judgment and expressing its hope that Argentina complies with the compensation order.

The World Bank's International Centre for Settlement of Investment Disputes (ICSID) has ordered Argentina to pay 405 million dollars to French company Suez, who saw their contract for water and drainage provision cancelled in 2006. The service had been privatized in the nineties during the presidency of Carlos Menem.

Friday, April 10th 2015 - 00:44 UTC

Cristina Fernandez will visit his close new friend Putin on April 22/23

Putin made an official visit to the Buenos Aires in July 2014, during which time the two countries signed energy and cooperation deals

Argentine President Cristina Fernández will be heading to Moscow in just under two weeks upon invitation from Russian President Vladimir Putin to mark 130 years of diplomatic relations between the two countries. The announcement of the president’s 22/23 April visit to Russia came amid news that she would also visit Pope Francis in the Vatican on June 7.

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.


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