Stories for July 26th 2014

Saturday, July 26th 2014 - 07:05 UTC
Mercosur to consider forming an 'economic forum' with ALBA and Petrocaribe

Uruguay's president Jose Mujica will be attending the next Mercosur presidential summit scheduled for Tuesday, 29 July in Caracas, when the creation of an economic forum Mercosur/ALBA/PetroCaribe will for consideration as part of the agenda.
Saturday, July 26th 2014 - 06:56 UTC
Cristina Fernandez will analyze holdouts' case during her stay in Rio Gallegos

President Cristina Fernandez left on Friday for Santa Cruz province, where she will stay for the weekend and analyze New York Argentine/holdouts case briefings. The Argentine delegation returned on Friday to Buenos Aires after two meetings with appointed mediator Daniel Pollack in New York, where no resolution was reached.
Saturday, July 26th 2014 - 06:49 UTC
IMF warns about 'default' costs for Argentina; calls for debt restructuring mechanisms

The IMF's chief economist warned that a default by Argentina in its battle with holders of its defaulted debt may hurt its economy and the global financial system. Argentina continues to face the fallout of its 2001 debt default, which plunged the country into an economic crisis it is still battling to overcome.
Saturday, July 26th 2014 - 06:36 UTC
Argentina/holdouts impasse remains; delegation back to Buenos Aires for instructions.

Argentina failed to reach a breakthrough with the U.S. court-appointed mediator in its battle with holdout creditors in New York on Friday in talks that lasted just an hour. The Argentine delegation is flying back to seek instructions from its government, mediator Daniel Pollack said, while the country's economy ministry underscored it would continue the dialogue with him over the next few days.
Saturday, July 26th 2014 - 06:31 UTC
Majority of Uruguayan support sheltering children from the Syrian conflict

Uruguay's president Jose Mujica proposal to shelter Syrian children refugees from the ongoing Middle East conflict has the support of 66% of the population and is rejected by 23%, according to a public opinion poll released this week by a local television channel.
Saturday, July 26th 2014 - 06:24 UTC
Santander apologizes to President Rousseff for leaking 'political bias' comments

Banco Santander Brasil SA, apologized for a note sent to some of its high-income clients in Brazil saying the economy would worsen if President Dilma Rousseff’s chances of being re-elected stabilized or improved.
Saturday, July 26th 2014 - 06:18 UTC
Brazilian auto industry putting workers on paid leave as production plummets 10%

General Motors Co wants to put nearly a fifth of its workers at a factory in Brazil on paid leave, an auto workers union said this week, amid falling output in Latin America's largest economy.
Saturday, July 26th 2014 - 06:04 UTC
Venezuelan general retained in Aruba to be extradited to the US

A judge in Aruba ruled Friday that the highest-ranking Venezuelan official ever arrested on a U.S. warrant will remain behind bars pending an extradition request on drug charges. Hugo Carvajal, a former head of Venezuelan military intelligence and close confidant of the late president Hugo Chavez, was arrested upon arriving at Aruba’s airport, officials said Thursday.
Saturday, July 26th 2014 - 05:54 UTC
Gibraltar praises call for dialogue with Madrid from Spanish politicians

The Gibraltar government welcomed the call by three senior Spanish politicians for Spain, the UK and Gibraltar to engage in dialogue. The call was made public in a joint statement issued by former senior Spanish politicians Pepe Carracao, Rafael Roman and Salvador de la Encina.
Saturday, July 26th 2014 - 05:45 UTC
FIFA rejects calls to strip Russia of the 2018 World Cup over Ukraine crisis

Amid mounting criticism of Russia over the MH17 plane tragedy and conflict with Ukraine, FIFA rejects calls for the country to be stripped of 2018 World Cup hosting rights and says a boycott is no solution to the crisis.