Argentina unveiled a new system of export duties on oil shipments that will cut levies as the government seeks to attract investment to revive stagnant production. The change means energy companies will receive 70 dollars per barrel of exported oil, up from 42 previously. Argentina controls the price of oil exports in order to guarantee domestic supply.
The death by beating of a 12 year old indigenous Qom child in the north of Argentina had shocked public opinion following on another incident less than a month ago when a gendarme run over an indigenous grandmother and a ten month old baby girl.
With general elections scheduled in November, Falkland Island politicians are anxiously awaiting the recommendations of a Commission advising on the full-time or part-time status of elected representatives going forward, according to a piece published by the Jamaica Observer.
Bank of America has agreed to pay US government mortgage agency Fannie Mae 11.6bn dollars to settle claims relating to residential home loans. The bank will pay 10.3bn to settle claims relating to the loans and 1.3bn in compensation to the agency.
The unemployment rate across the troubled Euro zone hit 11.8% in November, up from 11.7% in October, with the number of people out of work in the 17-nation single currency area now nudging 19 million. Spain again recorded the highest with 26.6% and 57% for the under-25s.
Brazil, the world's fourth largest car market, sold a record 3.8 million vehicles last year, according to industry data released this week. Brazil's National Association of Motor Vehicle Manufacturers (ANFAVEA) reported that sales were up 4.6% on the previous year despite a 1.9% drop in production, the first decline since 2002.
With rising economic strains on one side and ever more environmental concerns on the other, the world could soon find itself in the perfect global storm, the World Economic Forum warned in a report on Tuesday.
US agricultural giant Monsanto Tuesday posted a large increase in quarterly earnings on strong results in corn seed sales in the US and Latin America and better sales of pesticides. The St Louis-based corporation said net income for the first quarter was 339 million dollars, up from 126 million a year earlier.
The frigate ARA Libertad is already in Argentine waters and is scheduled to arrive Wednesday to the port of Mar del Plata, escorted by dozens of yachts and other vessels, to a huge reception ceremony headed by President Cristina Fernandez, ministers and top officials.
The head of the World Animal Health Organization (OIE) called on countries that are banning Brazilian beef imports, following a case of mad cow disease last month, to lift restrictions as soon as possible, saying they were not justified.