Economy

• Tuesday, April 7th 2015 - 05:55 UTC

  Argentine regulators inspect Citibank, following dispute over accord with hedge funds

  

  Argentina’s central bank sent regulators to inspect Citibank's headquarters in Buenos Aires on Monday after the head of the branch was suspended amid a legal battle over Argentina's debt. Regulators are working to verify whether the bank was able to maintain normal operations following CEO Gabriel Ribisich's suspension last week, the government news agency Telam said.

• Monday, April 6th 2015 - 17:15 UTC

  Santos port four-day fire raging; efforts concentrated in stopping flames from spreading

  

  A fire at a fuel storage facility near Brazil's largest port Santos entered its fourth day on Sunday as 110 firefighters worked to stop the flames from spreading further, the local fire department said.

• Monday, April 6th 2015 - 16:56 UTC

  Brazilian economy to contract 2% this year, and inflation 9% predicts French bank

  

  BNP Paribas said in Sao Paulo that it expects Brazil's gross domestic product to shrink 2% this year, or double the contraction the French financial services company had projected one quarter ago.

• Monday, April 6th 2015 - 16:43 UTC

  Mexican oil production drops following deadly fire on offshore rig

  

  Mexico's oil production dropped following a deadly fire at an offshore platform, while authorities are still searching for three missing workers, state-run energy firm Pemex said.

• Monday, April 6th 2015 - 06:20 UTC

  International legal actions against Petrobras keep climbing

  

  One of Sweden’s largest investors has pledged to take direct legal action against Petrobras, becoming the third large investor to seek damages individually from the Brazilian oil group.

• Monday, April 6th 2015 - 06:02 UTC

  UK ratifies support for Falklands' oil and gas industry development

  

  The British government has dismissed a reported threat from Argentina to prosecute oil firms drilling near the 
Falkland Islands. Argentine authorities said that the explorations “carry a huge environmental risk” and claimed that the London-registered companies, which announced last week they had found oil and gas in a remote field off the Islands, should be tried in Argentina

• Friday, April 3rd 2015 - 07:08 UTC

  Falklands first well of current drilling program declared “oil and gas discovery”

  

  The Falkland Islands government welcomed on Thursday the announcement by Premier Oil and partners that the 14/15b=5 “Zebedee” well has been declared an oil and gas discovery following the completion of its evaluation program, Zebedee is the first of six wells from the current drilling campaign planned to take place in Falklands waters during 2015.

• Friday, April 3rd 2015 - 06:52 UTC

  Cable & Wireless consolidates in the Caribbean and targets Latin America

  

  British telecommunication company, Cable and Wireless Communications, Plc (CWC) Tuesday announced it had completed its US$1.85 billion acquisition Columbus International Inc (CII).

• Thursday, April 2nd 2015 - 08:20 UTC

  Brazil’s industrial production drops in February; 11 out of 24 sectors down

  

  Brazil's industrial production dropped in February after a momentary uptick at the beginning of the year, as factories and mines braced for what economists say could be the country's worst year in more than two decades.

• Thursday, April 2nd 2015 - 08:08 UTC

  Can Argentina capitalize on its vast shale reserves?

  

  Argentina, once a regional energy leader, is now better known for financial busts and bombastic politicians than hydrocarbons prospects. Still, with a resource potential both vast and untapped, the nation has never been far from energy investors' minds. The question today is just how much Argentina is willing to change and how this plays into a low oil price environment that is already negatively impacting investment elsewhere.