Economy

Wednesday, October 31st 2012 - 04:44 UTC
S&P lowers Argentina’s rating, as credit-default insurance soars to highest in the world

Argentina’s credit rating was cut one level by Standard & Poor’s, which referred to a US appeals court ruling that prevents the country from honouring its debt without also paying holders of its defaulted bonds.
Wednesday, October 31st 2012 - 04:00 UTC
Fitch Ratings downgrades Argentine bonds following Judge Griesa ruling

Fitch Ratings has placed Argentina's Long-term foreign currency Issuer Default Rating (IDR) of 'B', Short-term IDR of 'B' and the international bonds issued under New York Law on Rating Watch Negative (RWN).
Wednesday, October 31st 2012 - 02:38 UTC
Iran expected to import 100.000 tons of Argentine soy-oil in 4Q

Iran is likely to import over 100.000 tons of soy-oil from Argentina in October-December 2012 as Iran's purchasing of soy beans, soy-oil and soy-meal is recovering from the impact of sanctions, Hamburg-based oilseeds analysts Oil World said on Tuesday.
Wednesday, October 31st 2012 - 02:08 UTC
New York working to restore transit service in wake of historic storm

Thousands of New York Metropolitan Transportation Authority workers began on Tuesday to fan out through the system to inspect and begin repair of the damage caused by Hurricane Sandy, a massively destructive storm of historic proportions.
Tuesday, October 30th 2012 - 07:34 UTC
Cristina Fernandez ‘dollar-clamp’ is one year old and still going strong

A year ago the administration of President Cristina Fernandez imposed the first of a long chain of foreign money exchange restrictions that have caused a serious impact on the economy, the private sector and other provincial and city governments.
Tuesday, October 30th 2012 - 07:16 UTC
Australia’s Petrel Energy farms in with US explorer operating onshore Uruguay

Australia’s Petrel Energy is getting involved in Uruguay after taking a stake in a private US player which also gives it a presence in Spain. The Sydney-based explorer said its 25% stake in Schuepach Energy International (SEI) gives the company a shot at unearthing “company-making” large scale oil and gas discoveries.
Tuesday, October 30th 2012 - 07:11 UTC
Petrobras confirms: no fuel price increases in the immediate future

Municipal elections are over and the Brazilian government had a good performance at the polls having recovered among others the City of Sao Paulo, but contrary to investors’ expectations, the country’s oil and gas corporation Petrobras will not be hiking gasoline prices in the immediate future.
Monday, October 29th 2012 - 14:16 UTC
Mercosur and EU committed to continue advancing in trade and political talks

The Brazilian Foreign ministry revealed in a brief release that during October discussions between Mercosur and the European Union representatives both sides “confirmed their commitment to advance negotiations to achieve a wide ranging, balanced and ambitious agreement”.
Monday, October 29th 2012 - 12:31 UTC
Wall Street closes down Monday, Tuesday as hurricane Sandy advances on New York area

Wall Street stock and options markets will be closed on Monday and possibly Tuesday, the exchange operator said, going back on a plan that would have kept electronic trading going on Monday.
Monday, October 29th 2012 - 12:26 UTC
With the charisma of Lula da Silva, Brazilian ruling party takes control of Sao Paulo city

Fernando Haddad of Brazil’s ruling Workers Party, a protégé of ex-president Lula da Silva, won Sao Paulo’s mayoral runoff election, according to official results. With 92% of ballots counted, Haddad had secured 56% to defeat his opposition rival and former presidential candidate Jose Serra of the Brazilian Social Democratic Party who received 43.9%.