Politics

Politics
Tuesday, August 26th 2014 - 06:35 UTC

Argentina will appeal WTO ruling against the use of import restrictions

 Deputy minister Emmanuel Alvarez confirmed the dispute with WTO but said that “Argentine customs are not closed, but looked after”.

Argentina will appeal a World Trade Organization ruling against its use of import restrictions, according to a senior Argentine official. On Friday a WTO dispute panel found against Argentina in a 2012 case brought by the United States, the European Union and Japan relating to Buenos Aires licensing rules used to restrict imports.

Tuesday, August 26th 2014 - 01:47 UTC

French government and opposition in disarray; Euro austerity biting

Prime Minister Manuel Valls had handed in his government's resignation, opening the way for a reshuffle just four months after it took office.

French President Francois Hollande asked his prime minister on Sunday to form a new government, looking to impose his will on the cabinet after rebel leftist ministers had called for an economic policy U-turn. The surprise move came the day after outspoken Economy Minister Arnaud Montebourg had condemned what he called fiscal “austerity” and attacked Euro zone powerhouse Germany's “obsession” with budgetary rigor.

Saturday, August 23rd 2014 - 07:28 UTC

Argentina: “Cristina, share your fortune with the many impoverished in recent years”

Jose Nun was Culture minister with president Nestor Kirchner and is a much respected intellectual and academic in Argentina

A former cabinet minister of ex-president Nestor Kirchner said he wished that the current head of state, Cristina Fernandez would donate part of her considerable fortune so as to help all those people that have suffered impoverishment in recent years.

Saturday, August 23rd 2014 - 07:02 UTC

Bank of England minutes show some members voted to raise interest rates

However Bank Governor Mark Carney has said that any rise in interest rates would be gradual.

Two members of the Bank of England's Monetary Policy Committee (MPC) voted to raise interest rates in August, the first time in three years that policymakers have done so. The minutes of the meeting on 6-7 August show Ian McCafferty and Martin Weale voted for a 0.25% rise to 0.75%. It means the nine-member MPC voted 7-2 to hold interest rates at their historic low of 0.5%.

Saturday, August 23rd 2014 - 06:50 UTC

Brazil approves port infrastructure works for 1.73bn in Rio and Santos

Santos is one of the country's busiest ports with long queues at times of harvest

Brazil's National Port Authority and Waterways has approved 1.73bn dollars in port infrastructure works to be carried out by three local operators: steelmaker CSN, container terminal operator Santos Brazil and US food and agribusiness firm Archer Daniels Midland Company (ADM).

Saturday, August 23rd 2014 - 06:46 UTC

Chilean Peso depreciation expected to continue in coming months

The Chilean currency has slipped 19% versus the dollar since January 2013

The US dollar climbed to 584 Chilean Pesos at the end of trading in the Santiago money market, signaling a slow but steady increase for several months now and with prospects of continuing according to analysts. A greenback at 600 Pesos is not far away according to market analysts.

Saturday, August 23rd 2014 - 06:23 UTC

HMS Iron Duke visits Namibia; next calls South Africa and Falklands

The Plymouth based frigate spent four days in Walvis Bay. She is due to cross the South Atlantic sometime in the next weeks

HMS Iron Duke on Atlantic Patrol Tasking South, which includes the Falklands and South Georgia Islands, has visited the Namibian port of Walvis Bay where she has built on relations with the country’s Navy and its people.

Saturday, August 23rd 2014 - 06:18 UTC

Yellen insists with expansive policies despite growing pressure from 'hawks' on interest rate

“Five years after the end of the recession, the labor market has yet to fully recover,” argues Fed chief Yellen

Federal Reserve Chair Janet Yellen said Friday that the US jobs market has not yet fully recovered, but acknowledged that data is sending mixed signals, spurring debate over inflationary pressures. In a speech to leading central bankers in Jackson Hole, Wyoming, Yellen, who has kept Fed policy expansive due to perceived excess slack in the jobs market, gave no clear new signs for monetary policy.

Friday, August 22nd 2014 - 23:36 UTC

WTO rules against Argentina in trade dispute with world powers

The three trade powers argued that Argentina did not grant licenses to importers automatically as required by WTO rules

The World Trade Organization (WTO) dispute panel ruled on Friday against Argentina in a 2012 case brought by the United States, European Union and Japan against Argentine import licensing rules used to restrict imports.

Friday, August 22nd 2014 - 08:20 UTC

Nobel Prize Stiglitz sides with Argentina in reopening the debt swap

“From a global perspective, it is not possible to understand why a magistrate gets to have the right to judge about any bond in the world”, said Stiglitz

In an interview with Argentina’s daily 'Ambito Financiero', Nobel Economics laureate Joseph Stiglitz considered the Argentine government’s move to reopen the debt swap and replace the Bank of New York Mellon with local Banco Nacion as trustee a “good call” saying the reopening would not be mandatory, “voluntarily” inviting bondholders to join the strategy.

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