Stories for 2014

Friday, August 22nd 2014 - 13:07 UTC
Unlikely bedfellows: mines that run on solar or wind power

Mining companies are often seen as dinosaurs when it comes to making changes that will benefit the environment, but that perception may be shifting as some companies turn to renewable energy to cut costs and lighten their carbon footprint.
Friday, August 22nd 2014 - 08:20 UTC
Nobel Prize Stiglitz sides with Argentina in reopening the debt swap

In an interview with Argentina’s daily 'Ambito Financiero', Nobel Economics laureate Joseph Stiglitz considered the Argentine government’s move to reopen the debt swap and replace the Bank of New York Mellon with local Banco Nacion as trustee a “good call” saying the reopening would not be mandatory, “voluntarily” inviting bondholders to join the strategy.
Friday, August 22nd 2014 - 08:04 UTC
Argentina suspends beef exports 15-days to contain domestic prices

The Argentine government has decided to restrict beef exports for a 15-day period seeking to stem the rise of prices in the domestic market. The decision was confirmed by Cabinet Chief Jorge Capitanich and sparked criticism by business leaders in the sector with some voices saying the strategy will have “no positive effects.”
Friday, August 22nd 2014 - 07:43 UTC
Argentina describes Griesa as 'ignorant' and lacking knowledge on democratic institutions

The Argentine government again blasted Judge Thomas Griesa for declaring 'illegal' the bill sent to Congress referred to the country's debt and creditors, and said the magistrate “ignores national sovereignty” and “ignores how democratic institutions function”.
Friday, August 22nd 2014 - 07:33 UTC
European holders of swapped Argentine bonds willing to accept removal of the RUFO clause

European investors holding 5.2 billion dollars of restructured Argentine bonds are negotiating the removal of the Rights Upon Future Options (RUFO) clause that Argentina claims prevents them from negotiating with holdout funds, it was reported in the Buenos Aires media.
Friday, August 22nd 2014 - 07:17 UTC
Griesa leaves Argentina 'in contempt' ledge; warns any change of jurisdiction was 'lawless'

US District Judge Thomas Griesa declared on Thursday that an Argentine plan to change the 'jurisdiction' of restructured foreign debt was illegal, while resisting holdout investors' demands that Argentina be held in contempt of court for attempting to change the site of payment to Buenos Aires.
Friday, August 22nd 2014 - 07:07 UTC
Depressed Brazilian economy becomes focus of presidential campaign

With less than two months to the crucial 5 October presidential election, Brazil's Central Bank continued to battle economic turmoil increasing the credit available for commercial loans in the hope of boosting the country’s stagnant growth figures.
Friday, August 22nd 2014 - 00:08 UTC
Premier oil shows stronger than expected output in first half of the year

Falkland Islands involved oil and gas explorer Premier Oil may upgrade its 2014 production forecast after stronger-than-expected output in the first half of the year, pending the outcome of summer maintenance work, its Chief Executive said. The company reported a 7% rise in first-half profit after tax on Thursday, helped by strong oil production from its British fields.
Friday, August 22nd 2014 - 00:01 UTC
An estimated 36.500 tourists and 54 vessels expected this coming Antarctic season

During the upcoming Antarctic season, from November through March, 36,545 tourists are expected to visit, according to estimates compiled by the International Association of Antarctica Tour Operators (IAATO). That’s a slight dip from the 37,405 who visited in 2013-14, which was a 9 percent increase from the previous year.
Thursday, August 21st 2014 - 08:30 UTC
Kicillof: “no change of NY jurisdiction, but a change of payment location”

Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.