Wednesday, October 7th 2015 - 01:37 UTC

Noble Falklands Ltd oil activities are 'illegal' and 'clandestine' claims Argentina

Back in June, Tierra del Fuego Federal Judge Lilian Herráez ordered seizures for US$156 million of oil companies 'illegally' operating in 'Malvinas'

The Argentine government has declared “illegal” and “clandestine” the hydrocarbons' exploration activities carried out off the Falklands/Malvinas Islands by the Houston based Noble Falklands Limited company, according to a resolution by the country's Energy Office.

Tuesday, October 6th 2015 - 13:02 UTC

Debt-overwhelmed Petrobras cuts further capital spending plans for this year and 2016

Petrobras plans to cut 2015 investment by 11% to $25 billion from $28 billion and investment for 2016 will be cut 30% to $19 billion from $27 billion

Petrobras struggling with the biggest debt load among global oil firms, on Monday cut $11 billion from capital spending plans for this year and next as Brazil's currency and oil prices slump. Petrobras plans to cut 2015 investment by 11% to $25 billion from the previous $28 billion, according to a statement.

Tuesday, October 6th 2015 - 12:16 UTC

Rousseff government clashes with Federal Accounts Court

Attorney General Adams said Judge Augusto Nardes from the TCU had erred in making his position public ahead of Wednesday's expected vote.

Brazil's attorney general argued on Sunday for the removal of a judge overseeing an investigation of embattled President Dilma Rousseff's accounts, a last-minute attempt to avoid a ruling that could lead to her impeachment.

Tuesday, October 6th 2015 - 10:47 UTC

Francis makes it clear: he does not support same-sex marriage

 “This is God’s dream for his beloved creation: to see it fulfilled in the loving union between a man and a woman, rejoicing in their shared journey”

After a week filled with controversy over his position on gay marriage, Pope Francis reminded his flock that he does not support same-sex marriage. The pontiff made the declaration during the opening mass of this year’s Synod on the Family, telling approximately 270 bishops and other Catholics from around the world.

Tuesday, October 6th 2015 - 10:42 UTC

Rio 2016 Olympic Games budget drastically cut

“The days of lavish spending are over,” said Andrada. “We need to be creative in the way we find these savings.”

The organisers of the Rio 2016 Olympic and Paralympic Games are making cutbacks of up to 30% to avoid going over the $3.6bn dollars budget. Rio 2016 communications director Mario Andrada said the Brazilian public would not tolerate an overspend.

Tuesday, October 6th 2015 - 09:56 UTC

OECD has proposals to cut corporate tax minimization; but much skepticism

Osborne's plan to cut corporate tax rates means UK was embroiled in a “race to the bottom” of tax competition rather than tax co-operation with its neighbors

Companies should pay tax in the countries where they conduct business under new proposals intended to cut corporate tax minimization. An OECD/G20 report found laws allowing companies to shift profits to low-tax jurisdictions means that between $100bn and $240bn is lost annually. That equates to between 4% and 10% of global corporate tax revenues.

Tuesday, October 6th 2015 - 09:14 UTC

Falklands' stand visited by Foreign Secretary Hammond and MP Rosindell

The Foreign Secretary signing the visitors' book at the Falklands stand next to FIGO representative Sukey Cameron and MLAs Jan Cheek and Roger Edwards

Foreign Secretary Philip Hammond, MP Andrew Rosindel and Charles Tannock MEP, were among several personalities that visited the Falkland Islands stand at the Conservative Conference which is taking place in Manchester. He was met by Falklands lawmakers Jan Cheek and Roger Edwards, and Sukey Cameron, head of FIGO, Falklands' government office in London.

Tuesday, October 6th 2015 - 08:39 UTC

“Malvinas Hall” in Comodoro Rivadavia recalls Air Force strikes command against UK Task Force

“Malvinas means every day, not only April second, and this space, Malvinas Hall, will have ever-present the Malvinas cause”, said Ruben Palomeque

The room in Comodoro Rivadavia from where the Argentine Air Force command operated its attacks on the Falkland Islands during the 1982 conflict has been renamed 'Malvinas Hall', and has been declared part of the city's heritage, a place where students and visitors can recall “the ever present Argentine claim over the Malvinas Islands, and the heroism of its pilots”.

Tuesday, October 6th 2015 - 07:28 UTC

Victory for Argentina in its ongoing battle with speculative funds

Appeals court upheld a ruling from Judge Griesa, agreeing that plaintiffs were not entitled to possess the funds and did not have rights to the money superior to that of BNY Mellon.

The 2nd US Circuit Court of Appeals in New York refused on Monday to force Bank of New York Mellon Corp to turn over to holders of defaulted Argentine bonds any of the $539 million the country deposited in 2014 to pay creditors who participated in its past restructurings.

Tuesday, October 6th 2015 - 07:19 UTC

Argentina cancels $5.9bn Boden 2015 bond and issues new debt for $500m

Argentina on Monday disbursed US$5.9 billion from its Central Bank reserves to cancel the Boden 2015 bond series, which matured on Saturday.

Argentina's central bank on Monday afternoon confirmed the 5.9 billion dollar payment Argentina was due to make ended successfully, adding “the level of reserves is enough for the execution of our exchange policy.”


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