Economy

Tuesday, July 1st 2014 - 23:16 UTC
Could gang violence end Mexico's shale dream?

Violence in Mexico could thwart hopes of a budding shale boom, as oil and gas companies operating in Texas may think twice about moving south of the border.
Mexico holds an estimated 545 trillion cubic feet of technically recoverable shale gas and 13 billion barrels of shale oil, but progress in developing those resources has been slow.
Tuesday, July 1st 2014 - 14:59 UTC
Holdout hedge funds claim Argentina never turned up to negotiate a settlement

Holdout investors involved in litigation with Argentina over sovereign debt said on Monday they have not met with the government to negotiate a settlement on defaulted debt, and accused Buenos Aires of refusing to enter talks as a 30-day countdown to default begins.
Tuesday, July 1st 2014 - 10:16 UTC
Mercosur waking up to the significance and impact of the Pacific Alliance

Mercosur leaders called for dialogue with the Pacific Alliance over its perception that Mercosur is becoming an obstacle to integration and wider growth in the region. Uruguayan Vice-President Danilo Astori seemingly sparked the debate a few weeks ago when he said that “Mercosur mustn’t be a terminal station,” calling for formal trade deals with the Pacific Alliance.
Tuesday, July 1st 2014 - 08:16 UTC
Obama and 'second favorite Michelle' exchange praise at the White House

President Barack Obama and Chilean President Michelle Bachelet pledged to work together to strengthen the ties between both nations, including projects on energy, education and free trade. Obama met in the Oval Office on Monday with Bachelet, whom he called his second favorite Michelle.
Tuesday, July 1st 2014 - 07:50 UTC
Uruguay received 237 cruise calls in 2013/14 with 409.367 visitors

During the 2013/14 season, 237 cruise vessels called in Uruguay's two main ports, Montevideo and Punta del Este, with 409.367 visitors, a 6,3% increase in calls over the previous season, according to a report released by the country's presidential web-site.
Tuesday, July 1st 2014 - 07:41 UTC
Brazil extends tax breaks on car and furniture industries to boost economy

Brazil will extend a tax break for the car and furniture industries until the end of the year to help boost sales depressed by a slowing economy, the government said on Monday. This measure should also help boost President Dilma Rousseff's bid for re-election next October.
Tuesday, July 1st 2014 - 07:21 UTC
Kicillof will talk about Argentina's debt case before OAS foreign ministers

The OAS Permanent Council, responding to an Argentine request, agreed to convene a Meeting of Consultation of Ministers of Foreign Affairs on Thursday, July 3 the headquarters of the OAS in Washington DC to discuss “Sovereign Debt Restructuring: The Case of Argentina and its Systemic Consequences.”
Tuesday, July 1st 2014 - 07:14 UTC
Argentina confirmed Monday 7 July negotiations with hedge funds as instructed by Griesa

Argentina confirmed that next Monday, 7 July it will hold a meeting with “Judge Thomas Griesa delegate, Daniel Pollack”, in the framework of the current litigation with speculative funds, according to a Monday release from the Ministry of Economy in Buenos Aires.
Monday, June 30th 2014 - 05:47 UTC
OAS Permanent council expected to consider Argentina/hedge funds conflict

The Argentina litigation with holdout hedge funds will have an additional ingredient this Monday when the Organization of American States, OAS, Permanent Council holds an extraordinary session, on a special request from Argentina, to consider a consultation meeting of foreign ministers to address the issue of sovereign debt restructuring.
Saturday, June 28th 2014 - 10:57 UTC
Argentina claims Judge Griesa “blocked the payment to bondholders”

Through an official press release published on Friday afternoon, the Argentine government stated US Federal Judge, Thomas Griesa, attempted to “block the payment for bondholders,” and committed an abuse of authority, after cancelling the deposit made on Thursday into a Bank of New York account.