International

• Tuesday, March 1st 2016 - 07:35 UTC

  Gibraltar expects record number of cruise calls this year

  

  A record number of cruises are set to call at Gibraltar this year, representing an 11% increase on last year with an estimated 350,000 passengers from 227 visits. Some 18 cruise ships will make their first ever visits to Gibraltar with six of the brand new vessels selecting Gibraltar as part of their maiden season.

• Tuesday, March 1st 2016 - 07:32 UTC

  China to the rescue of debt-burdened Petrobras with a US$10bn credit

  

  Bonds issued by Brazil's Petrobras ended one to two points higher on Monday as the beleaguered oil company eased refinancing pressure by clinching a US$10bn loan from China. The US$10bn loan from China Development Bank, which can be repaid in cash or oil, will do much to reduce refinancing risks for what is one of the world's most indebted companies.

• Tuesday, March 1st 2016 - 07:27 UTC

  Gibraltar replies to Spanish MEP 'misinformation' at European Parliament

  

  Gibraltar Deputy Chief Minister, Dr Joseph Garcia, has written to the European Commission in order to set the record straight following ‘misinformation’ about Gibraltar propagated by a Spanish MEP. This comes after the Spanish MEP, Ramon Jauregui Atondo, tabled a question before the European Parliament in which he said that Gibraltar ‘facilitates tax evasion and financial crime’.

• Tuesday, March 1st 2016 - 05:21 UTC

  “Spotlight”, true story of investigative reporting on sexual abuse by Catholic priests takes best film Oscar

  

  In an underdog win for a movie about an underdog profession, the newspaper drama “Spotlight” took the Oscar for the best picture at the 88th Academy Awards. Tom McCarthy’s film about The Boston Globe’s investigative reporting on sexual abuse by Roman Catholic priests won over the favored frontier epic “The Revenant.”

• Tuesday, March 1st 2016 - 05:05 UTC

  Special Master announces settlement of 15-year battle between Argentina and 'holdout' hedge funds

  

  Daniel A. Pollack, Special Master appointed to preside over settlement negotiations between the Republic of Argentina and its “Holdout” Bondholders, this morning (29 February) issued the following statement:

• Monday, February 29th 2016 - 09:31 UTC

  Uruguay prepared to lead Mercosur/EU trade negotiations during the whole year

  

  Uruguay, now with the support from Argentina, is very much interested in advancing with the cooperation and trade agreement between Mercosur and the European Union, and is planning for president Tabare Vazquez to attend a Brussels meeting with EU officials to emphasize the matter.

• Monday, February 29th 2016 - 09:09 UTC

  Ex-Bank of England boss calls for urgent reform of monetary and banking system

  

  The former Bank of England boss has warned in a new book that another financial crisis is “certain”, and may come “sooner rather than later”. Mervyn King, who stood down in 2013, says reform of monetary and banking systems may help prevent the crisis.

• Monday, February 29th 2016 - 09:03 UTC

  G20: Beijing tailors generic final declaration with no specific mention to China's problems

  

  China pulled off a defensive win at the Shanghai Group of 20 (G20) meeting of global finance leaders after months of angst abroad over its economic and policy direction. For starters, there was no specific concern over China in the communiqué released late Saturday.

• Monday, February 29th 2016 - 07:28 UTC

  Praise for Argentina's economic reforms from US, China and Europe at G20

  

  Argentina received support for its economic reforms from the United States, China and Europe during the Finance ministers meeting held in Shanghai over the weekend in anticipation of the G20 heads of state and government summit next June, according to a release from the Argentine Finance ministry.

• Monday, February 29th 2016 - 07:18 UTC

  Francis wanted to understand how Macri was going to address eliminating poverty

  

  It was a 'good, enriching' meeting, a private conversation between the Holy Father and the president “which covered all the areas we expected to cover”, was how the Argentine foreign minister described Saturday's 22 minutes meeting between Francis and visiting President Mauricio Macri.