Stories for May 2013

Friday, May 24th 2013 - 07:10 UTC
As the US before IMF lines up behind Argentina in the litigation with hedge funds

For the first time since the litigation of hedge funds against Argentina the International Monetary Fund warned about the ‘risks’ which would entail ratifying Judge Thomas Griesa ruling condemning Argentina to pay over a billion dollars plus interests to the so called ‘vulture funds’.
Friday, May 24th 2013 - 07:05 UTC
Argentina raids factory of US investor head of a hedge fund litigating defaulted sovereign bonds

Argentine authorities investigating alleged tax and currency exchange fraud searched this week the factory of a U.S. investor who is among litigants seeking hundreds of millions over Argentina's 2001 default.
Friday, May 24th 2013 - 06:55 UTC
Former Ford executives charged in Argentina for human rights crimes

Three former Ford Motor Co. executives have been charged with crimes against humanity in Argentina for allegedly targeting union workers for kidnapping and torture after the country's 1976 military coup.
Friday, May 24th 2013 - 06:51 UTC
Argentina’s trade surplus shrank 38% in April as imports soar 32%

Argentina's trade surplus shrank 38% in April from a year earlier to 1.15bn, revealed the national statistics institute Indec, indicating the government has significantly loosened restrictions on imports. A year ago the surplus was 1.85bn dollars.
Friday, May 24th 2013 - 06:46 UTC
Two suspects of the Buenos Aires AMIA bombing, presidential candidate in Iran

Two suspects in the bombing of the AMIA Jewish centre in Buenos Aires are candidates in Iran’s presidential election. Mohsen Rezai and Ali Akbar Velayati, who are believed to have planned the 1994 attack, were among the eight candidates approved for the June 14 election by Iran’s Guardian Council to succeed Mahmoud Ahmadinejad.
Friday, May 24th 2013 - 06:38 UTC
Petrobras will continue to operate in Argentina but may sell some assets

Brazilian state-controlled energy giant Petrobras plans to continue operating in Argentina although it may sell some assets there, CEO Maria da Graças Foster said.
Friday, May 24th 2013 - 06:35 UTC
Russia forced to evacuate Arctic base because of melting ice field

A Russian drifting Arctic research station is to be evacuated because the ice field around it is melting, the environment ministry in Moscow reports. The evacuation order plan to be drawn up within three days for North Pole 40 and its staff of 16 is already operational.
Friday, May 24th 2013 - 06:25 UTC
Argentina and Brazil jointly developing satellites for South Atlantic research

Argentina and Brazil will be launching their first two jointly developed scientific satellites for research along the Atlantic coast in a couple of years, according to Brazil’s Science and Technology minister Antonio Raupp.
Friday, May 24th 2013 - 06:17 UTC
Drug trafficker in Rio challenge authorities and the pacifying campaign in favelas

Drug traffickers in Rio de Janeiro ordered shops closed in one of its biggest slums, defying efforts to restore order to the city's vast shantytowns and renewing safety concerns in Brazil as it prepares to host the World Cup and Olympics.
Thursday, May 23rd 2013 - 19:45 UTC
Energy - Balancing the Bonanza: Interview with Mark Thoma

Interview by James Stafford of Oilprice.com - If you want an objective view of energy, ask an economist, who can tell you what to expect to pay at the pump in the coming years, and why, as well as what to expect from medium- and long-term economic growth and what the real drivers will be. These are questions that are crucial to a pending decision by the US government over natural gas exports, and while we know where big oil stands versus its manufacturing rivals—it's the economist who can set things straight.