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Montevideo, November 21st 2024 - 23:54 UTC

Stories for July 24th 2015

  • Friday, July 24th 2015 - 20:21 UTC

    Tourism as a tool for development under-financed, claims Taleb Rifai

    UNWTO chief underlined that tourism has been identified by half of the world´s Least Developed Countries as a priority instrument for poverty reduction.

    Tourism’s underrepresentation in international financing for development flows remains a critical hurdle to overcome in order to fully deploy its development potential. Despite being a high impact economic activity, a major job generator and key export sector accounting for 6% of total world trade, tourism receives only 0.78% of the total Aid for Trade (AfT) disbursements and a mere 0.097% of the total Official Development Assistance (ODA).

  • Friday, July 24th 2015 - 11:18 UTC

    More job losses coming to U.S. shale

    With prices of both Brent and WTI moving towards $50 per barrel, this is bad news for the U.S. shale sector which is already dealing with rising debt

    With the recently concluded nuclear deal between Iran and the P5+1 countries, oil prices have already started heading downward on sentiments that Iran's crude oil supply would further contribute to the already rising global supply glut. The economic crisis in Greece, OPEC's high production levels and China's market turmoil have created more pressure on oil prices, making a price rebound look highly unlikely in the near future.

  • Friday, July 24th 2015 - 11:02 UTC

    US filings for unemployment benefits fall to its lowest since 1973

    The bullish jobs picture, together with a firm housing market brings the Federal Reserve a step closer to hike interest rates this year.

    The number of US citizens filing new applications for unemployment benefits last week dropped to its lowest level in more than 41 and a half years (1973), suggesting the labor market maintained a sturdy pace of job growth in July.

  • Friday, July 24th 2015 - 10:39 UTC

    Brazilian currency and markets drop on latest fiscal savings goals

    The real closed 2.2% lower at 3.29 per dollar, its lowest level in four months on late Wednesday' announcement reducing the primary surplus for the year

    Brazil's currency, the Real, tumbled on Thursday after the government announced it would slash its fiscal savings goals for this year and next, raising investor fears that the country may lose its investment-grade credit rating.

  • Friday, July 24th 2015 - 10:15 UTC

    Japan's largest media company buys the Financial Times in a £844m deal

    The battle for the FT turned into a duel between Nikkei and Axel Springer, two groups keen to develop their global presence in the English-language market.

    Nikkei, Japan’s largest media company, is to buy the FT Group from Pearson for £844m, after stunning its rival bidder Germany’s Axel Springer with an eleventh hour offer for the London-based global news organisation. The deal marks the end of an era, bringing the curtain down on Pearson's 58 year ownership of the Financial Times at a time of upheaval in the global media industry.

  • Friday, July 24th 2015 - 09:38 UTC

    ExxonMobil find in Guyana's waters could be worth 12 times the country's GDP

    Liza-1 was drilled in the Stabroek Block and encountered more than 295 feet of “high-quality oil-bearing sandstone reservoirs.”

    The Exxon Mobil oil find in Guyana, which has triggered a strong reaction from neighboring Venezuela could be worth 12 times more than that nation’s GDP. In effect according to a Guyanese minister, the find at Liza-1well in offshore Guyana could be worth about $40 billion at current international crude prices.

  • Friday, July 24th 2015 - 09:02 UTC

    Bermuda Premier calls on British Overseas Territories for a 'united front'

    The meetings are intended as a planning session to discuss issues affecting the BOTs in advance of a Joint Ministerial Conference scheduled for November (Pic Bernews)

    Bermuda Premier Michael Dunkley called for the British Overseas Territories (BOTs) to present a united front in key areas and for the leaders to work together to best represent the people of the region. Premier Dunkley opened on Thursday the Pre-Joint ministerial council which convened leaders from several BOTs including the Falklands MLA Roger Edwards, as reported by the island's Royal Gazette.

  • Friday, July 24th 2015 - 06:01 UTC

    Falklands/Malvinas: Argentina asks why UK is not punished for not complying with UN

    “Why some countries are punished if they don't accept UN resolutions, while others that are founding members” can look aside and not comply asked Filmus

    Argentine diplomats questioned in Montevideo why the United Kingdom is not punished for its denial to comply with the UN General Assembly Resolution from 1965 which calls on Argentina and the UK to sit and dialogue on the Falklands/Malvinas dispute. They also denied any attempts from Argentina to suffocate the Falklands economy or hydrocarbons industry.

  • Friday, July 24th 2015 - 00:23 UTC

    World Health Organization calls for urgent action to curb hepatitis

    WHO is alerting people to the risks of contracting hepatitis from unsafe blood, unsafe injections, and sharing drug-injection equipment.

    On World Hepatitis Day (28 July) the World Health Organization highlights the urgent need for countries to enhance action to prevent viral hepatitis infection and to ensure that people who have been infected are diagnosed and offered treatment. This year, the Organization is focusing particularly on hepatitis B and C, which together cause approximately 80% of all liver cancer deaths and kill close to 1.4 million people every year.

  • Friday, July 24th 2015 - 00:07 UTC

    Shell allowed to drill in Alaska's Arctic, once the required emergency equipment arrives

    BSEE conditionally granted Shell permits for exploration in the Chukchi Sea off Alaska, in a season which sea ice limits from July until October.

    The U.S. Interior Department on Wednesday granted Royal Dutch Shell two final permits to explore for crude in the Arctic this summer, but said the company cannot drill into the oil zone until required emergency equipment arrives in the region.