Stories for May 2012

Thursday, May 10th 2012 - 05:28 UTC
Spain takes over fourth largest bank to try and calm markets

Spain took over Bankia, the country's fourth biggest lender, on Wednesday, trying to dispel concerns over the government's ability to clean up the financial sector four years after the banks were hit by a property market crash.
Thursday, May 10th 2012 - 05:23 UTC
France’s Total awarded an oil exploration licence offshore Uruguay

France’s Total has been awarded an exploration licence for block 14 offshore Uruguay, following a second bid round staged by state-owned company ANCAP. Confirmation of the award is subject to further approval by Uruguayan authorities.
Thursday, May 10th 2012 - 05:16 UTC
Brazilian Senate approves ‘Budweiser bill’ ending dispute with FIFA over World Cup sponsoring

The Brazilian senate approved a bill Wednesday giving FIFA the guarantees needed to organize the 2014 World Cup. The approval came just a day after the Brazilian government met with FIFA officials in Switzerland to discuss the country's preparations and resolve their differences.
Thursday, May 10th 2012 - 04:47 UTC
Unasur members open their defence budgets and spending to peers

The twelve countries members of the Union of South American nations, Unasur have for the first time opened to their peers defence budgets and how much they spend on the military, helping confidence building, according to reports from the group’s Secretary General Office.
Thursday, May 10th 2012 - 04:43 UTC
Warmer waters and lack of food most probable cause of pelicans’ death in Peru

The increase in water temperature to the north of Peru kept away the schools of fish on which marine birds feed causing the massive death of pelicans recorded in that area, which could extend to other parts of Peru, if conditions persist.
Thursday, May 10th 2012 - 01:09 UTC
Major oil congress in Brazil to address challenge of pre-salt deposits development

The challenge of exploring and extracting Brazil’s massive pre-salt offshore hydrocarbons deposits will be addressed at the congress to be held in Rio do Janeiro next June with the participation of 250 delegates from international corporations, Petrobras and other Brazilian government institutions.
Thursday, May 10th 2012 - 01:03 UTC
Argentine government and Repsol partners in YPF’s asset striping claims former minister

A former Argentine Energy and Industry secretary questioned the energy policy of President Cristina Fernandez administration but also strongly criticized Spain’s Repsol management of the recently seized YPF.
Wednesday, May 9th 2012 - 21:09 UTC
Spanish government has abandoned the Trilateral Forum, claims Gibraltar

The Gibraltar Government issued a statement on Tuesday saying it took note of comments made by Foreign Minister Jose Manuel Garcia-Margallo indicating the Spanish government is abandoning the Trilateral Forum which involved three-side talks: Spain, UK and Gibraltar.
Wednesday, May 9th 2012 - 20:56 UTC
Mercosur “going through its worst moment in history” claims Uruguay

Uruguay’s Vice-president Danilo Astori said Mercosur is going through its worst moment in history because some of its members in practical terms “are denying the most basic principles”.
Wednesday, May 9th 2012 - 19:14 UTC
India’s ambitious project to mine 20bn tons of iron ore in Bolivia at risk

India’s Jinda Steel & Power's ambitious Bolivian project to mine 20 billion tons of iron ore is at risk after the Bolivian government encashed yet another 18-million dollars bank guarantee from the Indian firm for not meeting contractual terms.