
Colombian President Juan Manuel Santos moved Energy Minister Mauricio Cardenas to head the finance post on Thursday in a surprise move. At the midpoint of his four-year term, Santos asked all 16 ministers to resign, including Finance Minister Juan Carlos Echeverry, and set the stage for a cabinet shuffle aimed at shoring up his slumping approval ratings.

In an update of the recently completed six well exploration program Falkland Islands’ Desire Petroleum reports it has new 3D seismic acquisition of several of its North Falkland prospects which are currently under evaluation to provide a full prospects’ inventory.

The AIM listed company Falkland Oil and Gas Ltd reflected on Thursday on the progress made in the first half of the year when it managed a significant equity placing and negotiations for two farm-out deals which helped with a cash-balance of over 220 million dollars.

The number of US citizens filing new claims for jobless benefits unexpectedly rose last week, suggesting the labour market is healing too slowly to make much of a dent in the unemployment rate. However an official from the Federal Reserve said US economic data in recent weeks had improved.

The administration of President Cristina Fernandez again challenged the United States on the “trade restrictions in place against Argentine products” which it claims are part of “a protectionist policy inconsistent with from the World Trade Organization”.

Shares in Borders and Southern soared almost 20% on Thursday as the company revealed positive findings from the analysis of condensate fluids from its Darwin discovery well in the south of the Falkland Islands where it plans to continue appraisal drilling in 2014.

The Argentine government on Wednesday promulgated the tax agreement reached with Uruguay geared to lower fiscal evasion and elusion plus avoiding double taxing for residents from the neighbouring countries.

The current war of words over trade barriers going on between the US and Argentina further escalated tensions on Wednesday as Argentine Ambassador to the US Jorge Argüello highlighted: “the United States has been reported for a number of trade law violations.”

The Animal Welfare Institute (AWI) and Compassion in World Farming are calling on the US Department of Agriculture (USDA) to take immediate action following reports that 400 pregnant cattle among a total of 3,900 cattle being transported by ship from the United States to Russia have died en route.

Chile is planning a 2013 budget with a tendency growth of 5% and an average long term basic copper price of 3.06 dollars the pound revealed finance minister Felipe Larraín together with Rosanna Costa, head of the Budget Office during a presentation before Congress.