Stories for May 2012

Friday, May 11th 2012 - 13:10 UTC
Irish experience advice on how to rid banks of toxic real estate assets

Spain’s plan to rid banks of toxic real estate assets is reviving the politically heated debate over how creditors and taxpayers should share the vast losses still being incurred by the Euro zone debt crisis. Nowhere is the issue in sharper relief than in Ireland.
Friday, May 11th 2012 - 13:06 UTC
BRIC members, Indonesia, Philippines and Chile lead in air travel growth

Asia leads the world’s growth in air travel and holds seven out of the ten busiest inter-city routes. In addition to the BRIC markets, Indonesia, the Philippines, and Chile showed an impressive growth, according to analysis by the market intelligence solution Amadeus Total Demand.
Friday, May 11th 2012 - 13:05 UTC
Brazilian meatpacker moving out of Argentina sells plant to local government

Brazilian meatpacker JBS SA has sold one of its two units based in San Jose, Argentina, the company said in statement Wednesday. The unit was sold for 16.5 million dollars to a group of local cooperatives and the provincial government, which will run the operation.
Friday, May 11th 2012 - 12:29 UTC
As in Hitler’s time, the Olympic spirit exploited for political purposes

By Harold Briley - Hitler exploited the Olympics. Argentina’s cynical and infantile exploitation of the Olympic Games for political purposes is a reminder, if any is needed, of its persistent failure to abide by accepted standards of honesty and decency.
Friday, May 11th 2012 - 05:31 UTC
Chilean city of Punta Arenas will host IAATO annual meeting next year

Punta Arenas in the extreme south of Chile and one of hubs for Antarctic cruises, will be hosting the next annual meeting of the International Association of Antarctica Tour Operators, IAATO, in the first half of 2013.
Friday, May 11th 2012 - 04:11 UTC
UK and Argentina, main tourist generating markets for the Falklands in 2011

Falkland Islands visitor arrivals in 2012 by inbound overnight tourists, cruise passengers and domestic tourists are expected to total 57.000 spending around £7 million. Cruise ship passengers are forecast to make up 35.000 of the 57,000 in the 2012/13 season.
Friday, May 11th 2012 - 03:49 UTC
Argentine April inflation 2.16% and 23.45% in 12 months according to ‘Congress-index’

April inflation in Argentina averaged 2.16% accumulating 23.45% in the last twelve months, --more than double the official index-- according to the monthly release from opposition members of Congress based on information from private economic consultants.
Friday, May 11th 2012 - 02:31 UTC
Falklands’ Desire Petroleum stake in oil discoveries worth 900 million dollars

The North Falkland basin explorer Desire Petroleum has revealed the findings of an economic assessment of the group’s stake in the Sea Lion oil discovery, based on a high level development concept and economic review by Senergy from the UK.
Friday, May 11th 2012 - 01:24 UTC
Brazil underlines the “great political convergence” with Argentina in spite of trade differences

Foreign Minister Antonio Patriota praised the “great political convergence” between Argentina and Brazil and assured that any existing problems related to the bilateral trade “do not tarnish this very strong reality.”
Friday, May 11th 2012 - 00:16 UTC
Brazilian navy successfully tests Exocet missile with engine manufactured in the country

The Brazilian navy successfully tested an Exocet MM40 missile totally designed, developed and manufactured in the country by Avibras and with the support from the European group MBDA, partly owned by BAE Systems.