Stories for December 2013

Wednesday, December 4th 2013 - 03:11 UTC
Brazilian economy contracts 0.5% in third quarter, but still 2.2% annually

The Brazilian economy slipped into contraction in the third quarter after recording strong growth in the June quarter. Data released by statistical office IBGE on Tuesday revealed that GDP decreased a seasonally adjusted 0.5% sequentially in the September quarter, more than offsetting the upwardly revised 1.8% growth recorded in the second quarter.
Wednesday, December 4th 2013 - 03:03 UTC
Fifa admits delays in three stadiums but is confident all will be ready by June

Fifa has admitted that not all of the stadiums for the Brazil World Cup will be ready in time for its original deadline of January. But Fifa president, Sepp Blatter, said he was confident all 12 stadiums would be ready when the tournament kicks off in June following a meeting with the local organizing committee.
Wednesday, December 4th 2013 - 02:50 UTC
Argentine central bank admits 'serious loss of reserves', which stand at 30bn

The newly appointed head of Argentina's Central bank Juan Carlos Fábrega admitted that in the last few months “loss of international reserves” has been serious, but “we are working to correct the situation”.
Wednesday, December 4th 2013 - 02:42 UTC
US Supreme Court hears 2002 case of BG Group against Argentina

The US Supreme Court heard arguments on Monday in the case of a British company embroiled in a legal battle with Argentina, with justices mulling the question of whether an arbitration tribunal has jurisdiction to punish a sovereign state in favor of a private company.
Wednesday, December 4th 2013 - 01:22 UTC
Fitch creates an Argentine/Uruguay domestic credit rating branch: FIX-SCR

Fitch Argentina announced this week that industry pioneer Douglas Elespe has become its CEO/Managing Director and new venture partner, and will lead the company's shift to an Argentine and Uruguayan domestic credit ratings business focus under the new name FIX-SCR. The financial terms of the transaction are not disclosed.
Wednesday, December 4th 2013 - 00:53 UTC
Commemorative coin: “Tribute from the Argentine People to Pope Francis”

Argentine Lower House passed last week a bill creating a commemorative coin as a tribute to Latin America's first Pope. Lawmaker Oscar Cachi Martinez first proposed the measure in April, and it garnered approval from congressional committees during November. The next step is for the bill to the considered by the Senate.
Wednesday, December 4th 2013 - 00:30 UTC
Petrobras finds unconventional petroleum in Argentina's Vaca Muerta shale deposits

The Argentine unit of Brazilian state-controlled oil giant Petrobras said on Monday that it discovered unconventional petroleum in Argentina’s Vaca Muerta formation. The well is part of the Rincon de Aranda concession in Neuquen province, operated by Petrobras Argentina in a 55%/45% partnership with French oil major Total.
Tuesday, December 3rd 2013 - 21:06 UTC
Argentines will have to spend summer holidays at home; tourist dollar up 35%

In an attempt to stop the drain of Argentina Central Bank international reserves, the government of President Cristina Fernandez has decided to take the 20% income tax advance to 35% for all credit and debit card purchases made abroad. The move will also involve the purchase of dollars for Argentines travelling abroad with the US currency climbing now to 8.322 pesos.
Tuesday, December 3rd 2013 - 17:38 UTC
Chilean presidential candidates working together against voters' apathy

Voter turnout in Chile's extreme north and south fell far short of national average, and candidates will look further afield for votes in upcoming elections December 15. As Chile’s presidential candidates turn their heads to the country’s far-flung regions, a report by La Tercera demonstrates the particularly high rates of abstention in rural areas in both the extreme north and south.
Tuesday, December 3rd 2013 - 12:22 UTC
Falkland Islands hosts a delegation of Brazilian congress advisors

A delegation of political advisors from the Brazilian Congress is currently in the Falkland Islands. The group is accompanied by Andrew Ford First Secretary FCO Brasilia.