Economy

Wednesday, August 27th 2014 - 06:33 UTC
Argentina revokes BONY authorization to operate and act as trustee

Argentina's Cabinet Chief Jorge Capitanich confirmed that the country's Office of the Superintendent of Financial and Exchange Institutions has revoked the authorization for the bank of New York Mellon to operate in Argentina.
Wednesday, August 27th 2014 - 06:11 UTC
Some 200 million people remain vulnerable in Latam despite lesser poverty

More than 56 million people have been lifted out of poverty in Latin America and the Caribbean in recent years, according to the United Nations Development Program (UNDP). But despite the progress, it warned that some 200m people, or 37.8% of the population, remained vulnerable.
Wednesday, August 27th 2014 - 06:07 UTC
As confidence vanishes, US dollar in Argentina breaks new record: 14.20 Pesos

Despite appeals to national unity from president Cristina Fernandez, the US dollar, Argentina's best test for confidence, climbed 22 cents to a new record in the informal market at the end of Tuesday's trading: 14.20 Pesos.
Wednesday, August 27th 2014 - 02:51 UTC
Chile ready to act as a 'bridge' between Mercosur and the Pacific Alliance

Chile is ready to act as a 'bridge' between Mercosur and the Alliance of the Pacific so that Latin American can have a greater presence in the world state, said Chilean Deputy foreign minister Edgardo Riveros during a conference in Sao Paulo at the Lula da Silva think-tank.
Tuesday, August 26th 2014 - 07:35 UTC
Brazilian consumers’ confidence at its lowest in more than five years

Brazil's consumer confidence deteriorated sharply in August to its lowest level in more than five years, the think tank FGV said Monday. The consumer confidence index fell to 102.3 from 106.9 in July. The score was the lowest since April 2009, when it was 99.7. In July, the index had risen strongly from April's 103.8.
Tuesday, August 26th 2014 - 07:26 UTC
Falklands: Premier Oil confirms full commitment to Sea Lion project

Premier Oil has updated progress on the Sea Lion project, the first field development offshore the Falkland Islands. Latest subsurface studies suggest recoverable reserves for the Phase 1 development at 308 MMbbl, with further upside of 60 MMbbl if next year’s well on the Chatham prospect confirms that there is no gas cap in the western side of the field.
Tuesday, August 26th 2014 - 06:48 UTC
Argentine tax office requests arrest of US company directors for 'fraudulent bankrupcy'

Argentina's tax office, AFIP, Federal Public Incomes Administration president Ricardo Echegaray announced it had requested the arrest of the Donnelley board of directors for what he called “playing a trick and inventing a fraudulent bankruptcy” for the printing plant located in Buenos Aires province.
Tuesday, August 26th 2014 - 06:42 UTC
Soros group and others file lawsuit against BONY over payments in Euros

A group of hedge funds, including George Soros’s Quantum Partners and J. Kyle Bass’s Hayman Capital, is seeking a 226 million Euro interest payment on Argentine bonds from Bank of New York Mellon, BONY, that was blocked by a United States judge last month.
Tuesday, August 26th 2014 - 06:35 UTC
Argentina will appeal WTO ruling against the use of import restrictions

Argentina will appeal a World Trade Organization ruling against its use of import restrictions, according to a senior Argentine official. On Friday a WTO dispute panel found against Argentina in a 2012 case brought by the United States, the European Union and Japan relating to Buenos Aires licensing rules used to restrict imports.
Saturday, August 23rd 2014 - 07:21 UTC
“Significant drop” in cruise calls in Uruguay this coming season

A significant drop in the number of calls and visitors is forecasted for this coming 2014/15 cruise season in Uruguay, according to tourism officials. While in the last season Uruguay received 238 cruise calls, beginning November the number is expected to drop to 187, this apparently because of the very high costs in the ports of Buenos Aires and Brazilian terminals.