Stories for December 2015

Thursday, December 24th 2015 - 11:11 UTC
Capital-strapped Petrobras wants to extend oil and gas fields contracts

Brazil's state-run oil company Petrobras will have to agree to extract at least 900 million barrels more of oil and natural gas equivalent from its Marlim and Voador offshore oil fields to win early renewal of its concession rights, oil regulator ANP said.
Thursday, December 24th 2015 - 10:56 UTC
Brazil is suing BHP and Vale 'at least' US$ 5bn for Minas Gerais mining disaster

A Brazilian federal court has ordered BHP Billiton and Vale to set aside US$ 491.5 million, with the possibility of billions more, has frozen the mining giants' assets in the country, and ordered it to carry out extensive environmental and social work in the region hit by a dam burst at its joint venture.
Thursday, December 24th 2015 - 10:34 UTC
Argentina begins round of negotiations on prices; unions demanding bonus to counter inflation

The Argentine government of president Mauricio Macri started a round of negotiations with big price setters as part of its bid to keep prices under control despite the recent devaluation of the peso. Domestic Trade Secretary Miguel Braun and Central Bank Governor Federico Sturzenegger met with the top representatives of the Argentine Chamber of Commerce (CAC) and representatives from medium-sized companies, who asked for cheap credit in exchange for the government’s goal of keeping prices in check.
Thursday, December 24th 2015 - 08:57 UTC
Brazilian economy will contract 3.6% this year confirms Central bank

Brazil's economy will shrink 3.6% this year and inflation will come in at 10.8%, according to a Central Bank report released Wednesday. The bank expects a continued recession in 2016, albeit with a less severe contraction of 1.9%, and an inflation rate of 6.2%.
Thursday, December 24th 2015 - 08:14 UTC
Malcorra tries to build a consensus on 'State objectives' with former ministers

In another attempt to display unity and consensus on 'State objectives' policy, Argentina's foreign minister Susana Malcorra welcomed six of her predecessors for lunch and a “frank” exchange of points of view on Argentina’s foreign policy.
Thursday, December 24th 2015 - 08:08 UTC
Italy's PM Rienzi looks to Spain and warns about the results of austerity in political systems

After Spain's elections on Sunday left the ruling Popular Party and president Mariano Rajoy well short of an absolute majority, Italian Prime Minister Matteo Renzi argued this showed Europe does not want austerity, and those who apply them, even successful, are knocked out politically.
Thursday, December 24th 2015 - 07:55 UTC
Socialists reject Rajoy's offer to join a PP government, but all parties want to avoid new elections in two months

Spanish Prime Minister Mariano Rajoy suffered a first major setback in his bid to stay in office as the Socialists refused Wednesday to back his attempt to form a new government following an inconclusive general election. Rajoy's conservative Popular Party won the most ballots in Sunday's vote but lost its absolute majority in the 350-seat lower house of parliament, taking just 123.
Wednesday, December 23rd 2015 - 10:07 UTC
Brazil's Barbosa insists fiscal policies to shrink budget deficit “will be maintained”

Brazil’s new finance minister, Nelson Barbosa, continued his effort to win over investors on Tuesday reiterating that the government of president Dilma Rousseff will maintain the same fiscal policies intended to shrink the budget deficit and cut debt that were favored by his predecessor.
Wednesday, December 23rd 2015 - 09:51 UTC
Malvinas sovereignty question is a 'State objective', says Argentine deputy foreign minister

Malvinas Islands sovereignty claim is a “State objective”, and Argentine diplomacy “will do everything possible to reach a political consensus to design a State strategy” underlined Argentina's Deputy foreign minister Carlos Foradori during an open debate on the 50th anniversary of the UN General Assembly Resolution 2065
Wednesday, December 23rd 2015 - 09:42 UTC
Rousseff off the hook until February: Supreme Court and Congress in recess

Brazilian President Dilma Rousseff said on Tuesday that her opponents' bid to impeach her has no legal basis since there are no charges against her. At the opening of a metro station in the northeastern city of Salvador, Rousseff said a country cannot resort to impeachment just because it does not like its president, and said Brazil should focus on restoring economic growth and creating jobs.