Stories for 2012

Wednesday, November 28th 2012 - 05:37 UTC
Fitch downgrades Argentina’s credit rating fearing ‘probable default’

Fitch Ratings agency announced on Tuesday it has downgraded Argentina's long-term foreign currency Issuer Default Rating from “B” to “CC,” with a negative outlook, as it sees a “probable default” if the country misses its payment to holdout investors.
Wednesday, November 28th 2012 - 00:07 UTC
In the midst of regional elections Chavez returns to Cuba to continue cancer treatment

Venezuelan President Hugo Chavez said he is returning to Cuba on Tuesday to continue treatment for cancer, raising new questions about his health just weeks after he won re-election to another six-year term.
Tuesday, November 27th 2012 - 23:52 UTC
Peruvian president tells Argentine congress of its solidarity with the Malvinas issue

Peruvian president Ollanta Humala expressed solidarity with Argentina in the Malvinas Islands issue and said that “the problems of the region are common problems” for all countries.
Tuesday, November 27th 2012 - 22:54 UTC
Argentina will make a plea at the Unasur summit to jointly face ‘vulture funds’

During a ceremony to receive visiting Peruvian leader Ollanta Humala Argentine President Cristina Fernández said that she would make a plea for Unasur members to come together in the fight against ‘vulture funds’ (hedge funds) when the region’s leaders meet this week in Lima.
Tuesday, November 27th 2012 - 22:25 UTC
FIFA warns Brazil on Sao Paulo crime and insufficient infrastructure for 2014 Cup

FIFA general secretary, Jerome Valcke has warned Brazil of the increasing crime rate in cities like Sao Paulo and also stressed on the need of more infrastructure ahead of the 2014 football World Cup.
Tuesday, November 27th 2012 - 22:18 UTC
Mixed bag for Noble Energy: oil in Gulf of Mexico and plugged well in the Falklands

Noble Energy Inc. (NBL) unveiled a discovery in the Big Bend exploration area in the Gulf of Mexico as it also abandoned another well off the shore of the Falkland Islands that yielded a low-quality reservoir.
Tuesday, November 27th 2012 - 21:11 UTC
Lack of political leadership threatens the global economy warns OECD

Global growth is set for a sharp slowdown next year and the Euro zone debt crisis “remains the greatest threat to the world economy at present,” the OECD warned on Tuesday. In its latest Economic Outlook the OECD also cautioned that “the risk of a new major contraction cannot be ruled out” after a global slump in 2009.
Tuesday, November 27th 2012 - 21:02 UTC
Argentina prepared to reopen bonds’ swap under certain conditions

Economy Minister Hernan Lorenzino described the appeal presented on Monday by Argentina against the ruling of New York Judge Thomas Griesa as “very forceful”, and pointed out that if the magistrate had proposed to treat hedge funds demands under the terms of the 2010 debt-swap, the Argentine congress might then address the option.
Tuesday, November 27th 2012 - 20:40 UTC
Brazil’s oil windfall distribution debate takes off in the streets of Rio do Janeiro

Thousands of people took to the streets in Rio do Janeiro on Monday to urge Brazilian President Dilma Rousseff to veto a bill that local officials say could cost Rio state billions of dollars in lost oil revenue, and cripple plans to host the World Cup and Olympics.
Tuesday, November 27th 2012 - 12:35 UTC
Poor quality hydrocarbons in south/east Falklands; new round of 3D program begins

Falkland Oil and Gas Ltd. (FOGL) focused on exploration in areas to the South and East of the Falkland Islands reported on Tuesday that the well drilled at its Scotia prospect discovered poor quality hydrocarbons.