Economy

• Tuesday, November 27th 2012 - 21:02 UTC

  Argentina prepared to reopen bonds’ swap under certain conditions

  

  Economy Minister Hernan Lorenzino described the appeal presented on Monday by Argentina against the ruling of New York Judge Thomas Griesa as “very forceful”, and pointed out that if the magistrate had proposed to treat hedge funds demands under the terms of the 2010 debt-swap, the Argentine congress might then address the option.

• Tuesday, November 27th 2012 - 20:40 UTC

  Brazil’s oil windfall distribution debate takes off in the streets of Rio do Janeiro

  

  Thousands of people took to the streets in Rio do Janeiro on Monday to urge Brazilian President Dilma Rousseff to veto a bill that local officials say could cost Rio state billions of dollars in lost oil revenue, and cripple plans to host the World Cup and Olympics.

• Tuesday, November 27th 2012 - 12:35 UTC

  Poor quality hydrocarbons in south/east Falklands; new round of 3D program begins

  

  Falkland Oil and Gas Ltd. (FOGL) focused on exploration in areas to the South and East of the Falkland Islands reported on Tuesday that the well drilled at its Scotia prospect discovered poor quality hydrocarbons.

• Tuesday, November 27th 2012 - 04:52 UTC

  Investors holding restructured Argentine bonds also appealed Judge Griesa’s ruling

  

  Investors holding 1 billion dollars worth of restructured Argentine debt said they also appealed to US District Judge Thomas Griesa’s ruling that they fear would trigger another default and prevent them from being paid principal and interest due on their bonds next month.

• Tuesday, November 27th 2012 - 04:47 UTC

  President Franco says Paraguay will begin pumping oil in mid-2013

  

  Paraguayan president Federico Franco announced on Monday that starting on 2013 the country will become an oil producing nation, after a recent discovery close to the border with Argentina.

• Tuesday, November 27th 2012 - 04:41 UTC

  Brazil’s low cost airline Gol cuts 850 jobs and returns 20 Boeing 737-300

  

  Brazil’s low-cost airline Gol announced that it is eliminating the WebJet brand, the rival airline that it took over earlier this year, cutting 850 jobs and reducing domestic capacity in the process.

• Tuesday, November 27th 2012 - 04:37 UTC

  Leading nations question legitimacy of Brazil’s measures to protect manufacturing

  

  The European Union, United States and Japan presented a formal complaint before the World Trade Organization questioning the legitimacy of some measures adopted by Brazil to protect domestic manufacturing, particularly in the auto industry.

• Monday, November 26th 2012 - 22:11 UTC

  “Milk bath” for European Parliament as farmers protest low prices

  

  Dairy farmers sprayed thousands of litres of fresh milk at the European Parliament in Brussels on Monday in protest at what they say are excessive milk quotas and prices below the cost of production.

• Monday, November 26th 2012 - 21:41 UTC

  UK appeals to EU, WTO and IMO over latest Argentine ‘intimidation’ round on the Falklands

  

  The UK is pursuing actions through the European Union, the World Trade Organization and the International Maritime Organization following the latest intimidation incidents from Argentina against the Falkland Islands and which also involve interfering with the free passage of shipping and free trade.

• Monday, November 26th 2012 - 19:35 UTC

  The Chicago Tribune on the bonds dispute: ‘Cry for yourself, Argentina’

  

  The Chicago Tribune, one of the leading Midwest US newspapers has been following closely the dispute in New York courts between the Argentine government and investment funds that are demanding full payment of sovereign bonds.