Stories for June 2014

Wednesday, June 18th 2014 - 08:31 UTC
Uruguay economy growing at a slower pace: imports up; exports stagnant

Uruguay's economy expanded 2.4% in the first quarter compared with the same 2013 period, but contracted 0.4% compared with the fourth quarter of last year, the central bank said this week. However deceleration is a fact since growth of the first quarter in 2013 has gone up 4.6% over 2012.
Wednesday, June 18th 2014 - 08:20 UTC
Obama pledges to crack down on illegal fishing and enforce traceability

The Obama administration announced on Tuesday an initiative to track every fish sold in the United States, a move designed to crack down on illegal, unreported and unregulated fishing, mislabeling of seafood and related problems.
Wednesday, June 18th 2014 - 08:15 UTC
Falklands gas condensate discovery shows potential for wider distribution

Borders & Southern Petroleum PLC said on Tuesday that new data on the Darwin gas condensate discovery in the Falkland Islands show the potential for wider hydrocarbon distribution.
Wednesday, June 18th 2014 - 08:09 UTC
S&P and Argentina in six months: “default or distressed debt exchange”

Standard & Poor's cut its rating of Argentina's long-term foreign currency debt rating to CCC- from CCC+ with a “negative” outlook. A CCC rating is defined as “currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments,” according to S&P.
Wednesday, June 18th 2014 - 07:59 UTC
Argentine industrial and financial community call for 'dialogue' with holdouts

Argentina's industrial union and bank associations expressed their deep concern regarding Monday's US Supreme Court refusal to take the long standing case with the holdout hedge funds, and all called for a solution appealing to dialogue.
Wednesday, June 18th 2014 - 07:52 UTC
“Judge Griesa's message is reasonable and conciliatory” argues Lavagna

Argentina's former Economy Minister and architect of the 2005 rescheduling of defaulted debt, Roberto Lavagna called for “calm” and “seriousness” to rethink the country's legal strategy following the setback suffered on Monday when the US Supreme Court decided not to hear its appeal against holdout hedge funds.
Wednesday, June 18th 2014 - 07:45 UTC
IMF concerned about 'wider systemic implications' of the US Supreme Court decision on Argentina

The International Monetary Fund is “concerned about wider systemic implications” the ruling by the US Supreme Court could prompt following its decision not to consider Argentina’s appeal aimed at staving off a default.
Wednesday, June 18th 2014 - 07:37 UTC
Argentina plans to reopen debt swap program and will request to meet Griesa

Economy Minister Axel Kicillof has announced that the government plans to reopen the debt swap program in the hope of renegotiating bonds held by hedge funds, after the US Supreme Court declined to take Argentina's case against the so-called 'vulture funds'.
Tuesday, June 17th 2014 - 23:25 UTC
UK minister arrives in Brazil to cheer for England and promote business and tourism

UK Minister for Sport, Tourism and Equalities Helen Grant arrives in Sao Paulo on Wednesday to cheer for the English team in the World Cup, and to share experience and promote the values and policies that transform social reality.
Tuesday, June 17th 2014 - 07:15 UTC
Argentina will pay 92% of restructured bonds, hopefully 100% of debt, but will not accept extortions

President Cristina Fernandez pledged on national television late Monday that Argentina will abide and honor its debts, the 92% of those who trusted in the country and hopefully the 100% of creditors, but will not accept 'extortions'.