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Montevideo, October 2nd 2023 - 08:13 UTC

Stories for November 2nd 2015

  • Monday, November 2nd 2015 - 09:51 UTC

    Cracks in the incumbent strategy to win Argentina's presidential runoff

    “The president decided that Scioli was to be the candidate, and you just have to look at the results”, said Randazzo

    Following claims of 'friendly fire', cracks are clearly surfacing in the Argentine ruling coalition strategy to conquer lost ground in the 25 October presidential vote which has forced a runoff on 22 November. Daniel Scioli was expected to beat his runner up by almost ten votes, but this did not happen, in effect Mauricio Macri was defeated by a mere 2.5 percentage points and his PRO party won the governorship of the strategic Buenos Aires province, Argentina's main electoral district.

  • Monday, November 2nd 2015 - 09:30 UTC

    Petrobras largest union on strike protesting sale of company's assets

    FUP, which represents platform, refinery and other workers joined a number of smaller unions already on strike when it began industrial action at (18:00 BST).

    Brazil's largest oil union began an open-ended strike on Sunday, protesting against attempts by the government to shrink the state-run oil company Petrobras, which is reeling from a corruption crisis and a crash in the oil price.

  • Monday, November 2nd 2015 - 09:18 UTC

    China's Renmimbi has become world's second most used currency in trade finance

    Markets expect RMB’s market share in trade settlement and payments to continue to grow anticipating China will further open up its financial markets.

    As China establishes itself as the world’s second largest economy and top trading nation, its currency, the renminbi (RMB), is also gaining popularity around the world. According to the People’s Bank of China’s 2015 Renminbi Internationalization Report, the RMB was the world’s 5th most used payment currency, the 2nd most used trade finance currency, and the 6th most traded currency in 2014.

  • Monday, November 2nd 2015 - 08:43 UTC

    Brazilian central bank opposes using the country's US$ 370bn reserves

    Tombini warned then that the bank was ready to use reserves to tame a surge in volatility at the time.

    Brazil's central bank chief, Alexandre Tombini, told lawmakers he opposes using the country's $370 billion foreign reserves at this moment as they serve as an insurance policy for Latin America's largest economy.

  • Monday, November 2nd 2015 - 08:26 UTC

    Lula urges ruling party to support austerity measures and minister Levy

    Lula said Brazil had no alternative but to tighten belts to pull the economy out of its deepest slump in decades: “the party's future depended on it”.

    Former Brazilian president Lula da Silva urged the ruling Workers' Party to back fiscal austerity measures in Congress, endorsing the efforts of Finance Minister Joaquim Levy to plug a gaping deficit. Members of Lula's party have opposed moves by Lula's protégée, President Dilma Rousseff, to cut public spending and social benefits as she strives to balance overdrawn accounts and restore investor confidence in Brazil.

  • Monday, November 2nd 2015 - 08:07 UTC

    US Navy Carrier Strike Group 9 anchored off Punta Arenas for Unitas exercises

    USS George Washington and Carrier Strike Group 9 will be in Latin American waters through December for UNITAS 2015

    The United States Carrier Strike Group 9 which is participating in a series of 'Unitas' exercises with different Latin American and Pacific countries, anchored off Punta Arenas and is scheduled to leave on Monday for Rio do Janeiro, Brazil, according to reports from the extreme south Chilean city port.