Stories for August 2014

Wednesday, August 20th 2014 - 09:22 UTC
Nervous Cristina skirts New York court and pledges to service swapped bonds in Argentina

President Cristina Fernandez said on Tuesday her government will move to service its defaulted debt in Argentina or allow bondholders to swap their bonds for new bonds governed by national law in order to get around a U.S. court order.
Wednesday, August 20th 2014 - 02:56 UTC
US insists Argentina must engage with creditors over sovereign debt dispute

The US government reiterated on Tuesday that the International Court of Justice in The Hague “is not the appropriate venue” for addressing Argentina's debt issues and again called on the government of President Cristina Fernandez to engage with its creditors.
Wednesday, August 20th 2014 - 00:15 UTC
UN accepts extension of Uruguay's continental shelf to 350 miles; first in South America

The United Nations accepted the proposition of the Uruguayan government to extend the Uruguayan territorial seabed from 200 to 350 miles. Uruguay thus becomes the first South American nation to receive the approval of the UN for such request.
Wednesday, August 20th 2014 - 00:08 UTC
Three relatives of Pope Francis killed in car accident in Argentina

Three relatives of Pope Francis, including two young children, died on Tuesday when their car slammed into the back of a truck in Argentina. The Pope's nephew, Emanuel Horacio Bergoglio, who was driving the car, was in a serious condition after the accident, officials said.
Tuesday, August 19th 2014 - 09:16 UTC
Falklands pricing for valuation of hydrocarbons will follow Norwegian model

The Falkland Islands has an oil legislation regime that is robust and encourages investment, believes Financial Secretary Nicola Granger. Details of a law firm’s report to the Falkland Islands Government (FIG) on tax legislation in relation to the oil and gas industry, and recommendations to Government by Ms Granger, were released to the public this week in a paper that outlines the report from Freshfields Bruckhaus Deringer LLP.
Tuesday, August 19th 2014 - 09:10 UTC
Chilean ferry strikes rocks and is half sunk in the Puerto Natales/Puerto Montt link

The Chilean navy is deploying two vessels to contain possible fuel leaks, in the area where a Navimag ferry on Monday morning struck a group of rocks and is half sunk and half resting on a beach.
Tuesday, August 19th 2014 - 08:57 UTC
Cattle rustling an everyday issue in Uruguay, claim farmers

Cattle rustling in Uruguay has become a daily issue and it's unfair that farmers should be forced to change of activity because “justice is lenient” when and if the perpetrators are caught, claimed the president of Uruguay's Rural Association, ARU, Ruben Echeverria.
Tuesday, August 19th 2014 - 08:51 UTC
Uruguay's 2014/15 wool clip estimated in 30 million kilos

Uruguay's 2014/15 wool clip has been estimated at 30 million kilos, a volume similar to that of 2013/14, according to numbers discussed in a recent meeting of sheep farmers, government and regional officials to address prospects for the industry.
Tuesday, August 19th 2014 - 08:45 UTC
UK Home Office loses arbitration and is ordered to pay Raytheon £224m

The UK Home Office has been told to pay £224m to a major US corporation it sacked for failing to deliver a controversial secure borders program. Ministers will pay Raytheon £50m in damages, plus other costs. The order to make the payments comes from a binding arbitration tribunal. Home Affairs Committee chairman Keith Vaz called it a “catastrophic result”.
Tuesday, August 19th 2014 - 08:31 UTC
Assange announces he plans to abandon the Ecuadorean embassy 'soon'

WikiLeaks founder Julian Assange, who has spent over two years inside Ecuador's London embassy to avoid extradition to Sweden, said on Monday he planned to leave the building “soon”, but his spokesman said that could only happen if Britain let him.