Friday, March 27th 2015 - 08:23 UTC

Brazil's central bank forecasts economy will contract 0.5% and inflation climb to 7.9%

The bank's president Tombini said before the Senate that the inflation rate should be much lower in April than in the year's first three months.

Brazil's economy will contract 0.5% in 2015 and inflation will climb to 7.9%, ending the year far outside the tolerance range, the Central Bank admitted on Thursday in its latest quarterly inflation report.

Friday, March 27th 2015 - 08:07 UTC

Petrobras engineering firm contractor files for bankruptcy

Grupo Galvao is one of the first to break under the strain of canceled projects and suspended payments as a result of the broad police probe into Petrobras

Brazilian engineering firm Galvao Engenharia said on Wednesday it filed for bankruptcy protection, as state-run oil company Petrobras cut off payments due to a broad corruption scandal in which it had been implicated.

Friday, March 27th 2015 - 07:52 UTC

International summit on oil and gas potential in Uruguay next June

 “The Summit will highlight the country’s activities, unveil its potential and facilitate much needed networking for the industry”, said Hector de Santa Ana

Uruguay's oil and gas Government owned company, ANCAP, will join senior level delegation from international oil and gas operators on 11-12 June 2015 in Montevideo to analyze the potential of a region that has experienced significant advances since 2009.

Friday, March 27th 2015 - 07:38 UTC

UK biggest union and Labor affiliate pledges full support for Gibraltar with Ed Miliband

McCluskey acknowledged the failed attempt by Tony Blair’s Labor government to share the sovereignty of Gibraltar with Spain in 2002

United Kingdom Unite boss Len McCluskey gave ‘the fullest of assurances’ that he would influence a future Labor government in Britain to respect the wishes of the people of Gibraltar in any dealings with Spain.

Friday, March 27th 2015 - 07:23 UTC

Argentina denies purchase of Russian aircraft but admits the Chinese option

The Argentine minister pointed out that Russia's Su-24 were never under consideration since they are “absolutely inaccessible in terms of value”

Argentina 'never had in consideration' the possibility of purchasing fighter aircraft from Russia, such as the Sukhoi Su-24, to replace the aging French Mirages to be decommissioned by the end of the year, said Defense minister Agustín Rossi.

Friday, March 27th 2015 - 07:15 UTC

Mercosur is being left out of the main global trade flows, argues Uruguay

“We are interested in integrating to the world's main trade flows and Uruguay and Mercosur are being left out of that dynamic traffic”, said Nin Novoa.

Mercosur is being left out of the main global trade flows since it only belongs to 1% of free trade treaties or tariff preference agreements, which actually represent half of world trade, said Uruguay's foreign minister Rodolfo Nin Novoa during a conference on “Education and regional integration”.

Thursday, March 26th 2015 - 15:40 UTC

Top Gear's Clarkson sacked; BBC admits the decision would “divide opinion”

“There cannot be one rule for one and one rule for another dictated by either rank, or public relations and commercial considerations” said Lord Hall, BBC director general

Jeremy Clarkson's contract will not be renewed after an “unprovoked physical attack” on a Top Gear producer, the BBC's director general has confirmed. Tony Hall said he had “not taken this decision lightly” and recognized it would “divide opinion”, but he emphasized that “a line has been crossed” and he “cannot condone what has happened on this occasion”.

Thursday, March 26th 2015 - 09:30 UTC

Timerman rejects Iran cover-up claims and again supports the MoU signed with Teheran

Timerman considered prosecutor Nisman’s report was “really made up” in order to “attack the president, myself and (lawmaker Andres) Larroque.”

Argentina's Foreign Minister Hector Timerman has rejected the cover-up accusations made by Alberto Nisman before the AMIA special prosecutor was found dead in his Buenos Aires City apartment more than two months ago under unclear circumstances.

Thursday, March 26th 2015 - 09:20 UTC

Argentina considers Citigroup deal with US Judge Griesa could have violated local law

“Reading the fine print of the deal, what we find is a trap possible aimed at scamming the bondholders,” Kicillof told a news conference in Buenos Aires.

Argentina's Economy Minister Axel Kicillof said on Wednesday a deal between Citigroup Inc and U.S. judge Thomas Griesa allowing the banking giant to process two Argentine debt payments violated the country's laws.

Thursday, March 26th 2015 - 09:07 UTC

Brazil central bank will cease forex intervention program as of April

The Brazilian Real has been one of the worst performing currencies this month losing 10% against the dollar

Brazil's central bank announced on Tuesday it will not extend its currency intervention program past March 31 as a combination of political problems at home and fears of higher U.S. interest rates push the Real near its lowest levels in a decade. The bank will, however, roll over all swaps expiring after May 1.


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