Stories for April 2012

Wednesday, April 18th 2012 - 08:34 UTC
Brufau said Repsol will demand a compensation of 10 billion dollars

Repsol’s Chairman Antonio Brufau said the Spain-based group will demand to Argentina a compensation of 10 billion dollars after President Cristina Fernández decided to nationalize the energy giant. Likewise, Brufau accused the Argentine government of “having distorted information” on regards the company’s production during Monday’s presentation.
Wednesday, April 18th 2012 - 08:30 UTC
Debts and environmental cleanup to subtracted from YPF compensation says Argentina

Argentina accused Spain's Repsol oil company on Tuesday of hiding the true value of its Argentine YPF unit and said a thorough review of its books after seizing control of its offices will affect the compensation paid to its shareholders.
Wednesday, April 18th 2012 - 08:26 UTC
Fitch places Repsol on Rating Watch Negative following the YPF takeover operation

Fitch Ratings has placed Repsol YPF, SA's ratings on Rating Watch Negative (RWN) following news that YPF takeover has been set in motion by the Argentine government.
Wednesday, April 18th 2012 - 08:23 UTC
Brazilian economy set to grow 3%, but with risks of overheating, says IMF

The Brazilian economy is set to grow 3% in 2012 after the modest 2.7% of last year, but following the relaxation of monetary policy it runs the risk of ‘overheating’, according to the IMF World Economic Outlook, WEO.
Wednesday, April 18th 2012 - 08:15 UTC
“Argentina has just shot itself in the foot” warns Spain Foreign minister

Spain’s Foreign Minister José Manuel García-Margallo warned on Tuesday that “Argentina has just shot itself in the foot” as the expropriation of YPF oil and gas company might lead to “a break- up with both Spain and the international community.”
Wednesday, April 18th 2012 - 08:10 UTC
Hague expresses deep concern over the YPF case and promises support for Spain

British Foreign Secretary William Hague said he was “very concerned” at President Cristina Fernández announcement to expropriate YPF, a decision he believes “goes against all the commitments Argentina has made in the G20 to promote transparency and reduce protectionism.”
Wednesday, April 18th 2012 - 08:06 UTC
Argentina’s Malvinas claim with no support statement from hemisphere defence ministers

A preparatory meeting for a Ministers of Defence of the Americas Conference to be held in the second half of the year concluded in Montevideo with no inclusion of the Malvinas Islands dispute in the final declaration because of lack of agreement among the participants.
Wednesday, April 18th 2012 - 06:17 UTC
Argentina and Brazil closer in defence issues and in support of Malvinas claim

Argentina and Brazil agreed to work on a common defence agenda underlining the importance of strengthening Unasur and working to ensure that Latin America is a peace zone thus sending a strong message to the UK on the Falklands/Malvinas issue.
Wednesday, April 18th 2012 - 01:05 UTC
Bolivia’s Morales takes distance from YPF/Argentina conflict and praises Repsol

Bolivian president Evo Morales clearly took distance from Argentina’s expropriation of YPF, the Argentine affiliate of Spain’s Repsol which was announced on Monday and caused a major rift between Argentina and Spain and the European Commission.
Wednesday, April 18th 2012 - 00:54 UTC
Letter on identification of Argentine soldiers buried in Falklands sent to the Red Cross

Malvinas conflict next-of-kin commission sent a letter to the International Red Cross expressing their position regarding the request from President Cristina Fernandez for that organization to help with the identification of soldiers’ remains buried in the Falkland Islands Argentine cemetery.