Stories for August 4th 2014

Monday, August 4th 2014 - 07:41 UTC
Trying to gauge the impact of Argentina's situation in Mercosur partners

Argentina’s debt problems threatens to worsen trade tensions in Mercosur, adding to the economic woes of Brazil in a tense election year and causing headaches in Uruguay as the Argentine economy looks likely to plunge deeper into recession.
Monday, August 4th 2014 - 07:34 UTC
Debt ruling shows a callous disregard to the effects on Argentina

By Eileen Appelbaum (The New York Times) - There is no way to construe as fair the United States court ruling that Argentina cannot pay 93% of its creditors, unless it first pays a small group of hedge funds. It's not fair to the 93% of bondholders who negotiated a restructuring of Argentina’s debt in 2005 and 2010 with reduced payments.
Monday, August 4th 2014 - 07:27 UTC
Argentina awarded by the EU beef 'feed-lot quota' of 48.200 tons

The European Union (EU) has recognized Argentina as one of the few countries able to export high-quality beef under the “feed-lot quota” to the European market, a press release from the Argentine Foreign Ministry informed on Sunday.
Monday, August 4th 2014 - 07:20 UTC
EU orders Russia to pay 2.5bn dollars to former Yukos oil group shareholders

Russia has been ordered to pay about 2.5bn dollars to former shareholders in defunct oil group Yukos by the European Court of Human Rights. Russia's Justice Ministry said the ruling was “unfair” and it had three months to appeal against the decision.
Monday, August 4th 2014 - 07:16 UTC
Brazilian auto industry drops 36% in June and drags industrial output

Brazil's industrial output fell 6.9% in June compared to the same month last year, mostly due to a contraction of the automobile industry, reported the official stats office last Friday.
Monday, August 4th 2014 - 07:09 UTC
Malvinas war and the 2001 and 2014 defaults, Argentina's worst mistakes in 33 years

The Falklands/Malvinas war, the 2001 default and the 2014 default are “the three events that are going to go down, in recent Argentina history, as the three worst strategic mistakes committed by the country”, according to political analyst and historian Rosendo Fraga.
Monday, August 4th 2014 - 07:03 UTC
Magallanes with lowest unemployment rate in Chile, but quality of jobs is questioned

Unemployment in the extreme south Chilean region of Magallanes was the lowest in the country during the April/June quarter, 2.3%, according to the latest report from the country's stats office, INE. This is 0.5 percentage points less than the previous quarter and 1.4 percentage points below a year ago.
Monday, August 4th 2014 - 06:55 UTC
GeoPark has plans to drill 35 exploratory wells in Chilean Tierra del Fuego by end of 2014

Oil and gas explorer GeoPark expects to end the year having drilled 35 wells in Chilean Magallanes and Tierra del Fuego, which must be added to the 560 million dollars the company has invested in the region since it began operations in 2006, said the company in an economic impact report presented by consultants Gemines.
Monday, August 4th 2014 - 05:43 UTC
Princess Cruises to incorporate 143.000 ton vessel for 3.650 pax in 2017

Princess Cruises, a subsidiary of Carnival Corporation & plc, announced that it has reached an agreement with the Italian shipbuilder Fincantieri to build a new ship, which will enter service in 2017.