Stories for November 2014

Friday, November 7th 2014 - 22:51 UTC
Argentina targets yet another US company on alleged tax fraud

US corporation firm General Electric has “over-invoiced” imports in a financial maneuver designed to access additional dollars in the official foreign exchange market, claimed Argentine Cabinet Chief Jorge Capitanich. GE thus becomes the second large US company in less than a week to face accusations of financial trickery in order to obtain economic benefits.
Friday, November 7th 2014 - 22:44 UTC
Despite Rousseff, extreme poverty grows for the first time in a decade

The number of Brazilians living in extreme poverty grew for the first time in a decade, according to government figures. The Institute of Economic Research reported that the number of people in households with incomes below the poverty threshold of 30 dollars rose from 10.1 to 10.5 million people, which means a 3.7% increase.
Friday, November 7th 2014 - 05:11 UTC
ECB ready to give the Euro zone further economic stimulus

The president of the European Central Bank (ECB), Mario Draghi, says the bank stands ready to give the Euro zone further economic stimulus “should it become necessary”. The comments boosted shares in Europe. It also prompted a fall for the euro, with analysts increasingly braced for more dramatic stimulus measures.
Thursday, November 6th 2014 - 21:50 UTC
Falklands oil industry regulated by UK North Sea standards, one of the highest in the world

The elected government of the Falkland Islands has strongly refuted remarks by Argentine official 'Malvinas Secretary' Daniel Filmus, published in The Guardian, in which he states that hydrocarbons activities in the Falklands are environmentally reckless, and describes Filmus words as “yet another example of the Argentine's government futile efforts to damage the Falklands economy”
Thursday, November 6th 2014 - 08:12 UTC
Greenpeace names twenty “monster vessels, the scourge of the oceans”

Five fishing vessels from Spain are among the 20 most destructive community fishing vessels in the European Union, according to a new report from the environmental organization Greenpeace. Out of the five, two are from Galicia,: Eirado do Costal, with home port in Cangas, and Playa de Tambo, based in Marin.
Thursday, November 6th 2014 - 08:02 UTC
Australia confident of Antarctic Marine Protected Areas approval in 2015

Australia will continue to push for Marine Protected Areas (MPAs) off East Antarctica despite the proposal not being adopted at the annual Commission for the Conservation of the Antarctic Marine Living Resources, (CCAMLR) which last month met in Hobart, Tasmania.
Thursday, November 6th 2014 - 07:52 UTC
YPF manages significant increases in output and profits in the third quarter

Argentina's state-controlled oil firm YPF hydrocarbons' production in the third quarter increased by 15.4% from a year earlier to 573,000 b/d of oil equivalent (boe/d). The rise in production translates into a 13.9% increase from a year earlier for the first nine months of the year to 553,000 boe/d.
Thursday, November 6th 2014 - 07:37 UTC
US soybean crushers claim Argentine export taxes distort the market

The American Soybean Association, the National Oilseed Processors Association and the North American Export Grain Association sent comments last week to the U.S. Trade Representative identifying significant barriers to U.S. exports, particularly on the trade distorting impact of Argentine Differential Export Taxes, or DETs, and the artificial advantage provided to soybean products exported from that country.
Thursday, November 6th 2014 - 07:22 UTC
Argentina and hedge fund NML Capital ratify their commitment to keep fighting

Argentine Central bank chief Alejandro Vanoli, said the country will be not getting down on its knees in a negotiation with 'vulture funds' (hedge funds), once the January first date comes and the controversial RUFO clause, (preventing Argentina from voluntarily offering holdout creditors better terms than those of its 2005 and 2010 restructurings), falls.
Thursday, November 6th 2014 - 06:45 UTC
Cristina Fernandez 'stable' in hospital but will miss G20 summit in Australia November 15/16

Argentine President Cristina Fernández has completed her third day in the Otamendi hospital after falling ill with a bacterial infection, according to the report released by the presidential Medical Unit.