Stories for March 2015

Friday, March 13th 2015 - 11:53 UTC
Brazil's economic difficulties are cyclical argues President Rousseff

President Dilma Rousseff said here Thursday that Brazil's economic woes are cyclical in nature that the austerity measures her administration has adopted to rectify the situation will begin to bear fruit late this year.
Friday, March 13th 2015 - 11:38 UTC
Uruguay looks to Paraguay in support of a more open and dynamic Mercosur

Fresh from an incident with Venezuela which delayed and displaced a Unasur meeting, the Uruguayan government is looking for closer relations with the conservative administration of Paraguay, putting the emphasis on regional integration but also in making Mercosur a more open and dynamic trade and cooperation block.
Friday, March 13th 2015 - 11:28 UTC
Brazil central bank admits interest policy has not been effective in fighting inflation

Brazil's Central Bank appears likely to continue raising interest rates in the short-term, saying in its most recent meeting that its inflation-fighting effort in recent months has been insufficiently effective. The view was reflected in the minutes, published on Thursday, of its monetary policy committee's March 4 meeting, when the bank raised its benchmark Selic interest rate by 50 basis points to 12.75%.
Friday, March 13th 2015 - 11:18 UTC
Griesa blocks Citigroup from paying interest on Argentine bonds; group will appeal

A United States federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law. U.S. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called dollar-denominated exchange bonds would violate a requirement that Argentina treat bondholders equally.
Friday, March 13th 2015 - 11:02 UTC
Argentine Judge elected by peers head of the International Criminal Court

An Argentine has been elected by her peers to lead the International Criminal Court (ICC) in The Hague. Judges of the ICC, sitting in a plenary session, elected Silvia Fernandez de Gurmendi as president of the court for a three-year term with immediate effect, the organization said in a news release.
Friday, March 13th 2015 - 10:51 UTC
New York Times warns Obama's strategy towards Venezuela could be failing

In an editorial piece, “A failing relationship with Venezuela”, The New York Times expressed doubts about the latest measures imposed by the Obama administration on seven top officials from the Venezuelan government and goes even further questioning whether they will not end actually reinforcing President Nicolas Maduro position.
Thursday, March 12th 2015 - 11:45 UTC
Everyone is guessing when it comes to oil prices

Predicting and diagnosing the trajectory of oil prices has become something of a cottage industry in the past year. But along with all of the excess crude flowing from the oil patch, there is also an abundance of market indicators that while important, tend to produce a lot of noise that makes any accurate estimate nearly impossible.
Thursday, March 12th 2015 - 09:20 UTC
HMS Dragon calls at Cape Town's naval base for mid-deployment break

There is a permanent reminder of the Royal Navy's HMS Dragon’s first visit to South Africa as the destroyer upheld a 90-year-old tradition. A large painting of the ship’s badge, featuring her namesake mythical beast, adorns the wall of the cavernous dry dock where the Portsmouth-based warship spent her mid-deployment break, receiving some TLC after a four-month battering from the Pacific and Atlantic.
Thursday, March 12th 2015 - 01:11 UTC
Bank of England contrary to further cut interest rates to combat low inflation

Bank of England governor Mark Carney said it would be “extremely foolish” for the Bank of England to cut interest rates to try to combat low inflation. He reiterated comments made in February that the drop in prices was temporary and largely caused by the sharp fall in oil prices.
Thursday, March 12th 2015 - 00:53 UTC
HSBC top officers insist on staying; blame lower staff and the media and accept MPs criticisms

HSBC executives have been accused by MPs of incompetence for saying they were unaware of tax evasion activities in their Swiss private bank. However Chris Meares, the ex-head of HSBC's private banking division, said he didn't know what staff “were up to”.