International

Monday, September 1st 2014 - 11:06 UTC
Several 'plagues' hit Italy: recession, deflation, job losses and little hope ahead

The Italian economy contracted by 0.2% in the second quarter of 2014, Istat said Friday, confirming the continuation of the country's longest postwar recession. GDP was down 0.1% in the first quarter, it added. Likewise deflation hit Italy in August for the first time in more than 50 years, while unemployment rose again in July by 0.3% over June to 12.6%.
Monday, September 1st 2014 - 10:30 UTC
Dragui's announcement on fiscal stimulus cause German concern

A German news magazine reported on Sunday that Chancellor Angela Merkel is unhappy with European Central Bank chief Mario Draghi for apparently proposing a greater emphasis on fiscal stimulus over austerity in order to boost growth in Europe.
Sunday, August 31st 2014 - 10:36 UTC
Falkland Islands: “looking good for cruise ship season”

THE 2014/15 cruise ship season is looking good for the Falklands, with approximately 52,000 passengers due to land with 86 calls to Stanley and a further 113 calls to various Camp landings as well.
Saturday, August 30th 2014 - 11:06 UTC
Capital Markets accept review of sovereign default and making terms extensive to all bondholders

The International Capital Market Association (ICMA) published on Friday the revised framework that allows a majority of investors holding sovereign bonds that default to make changes to the terms, such as extending maturities or reducing the principal.
Saturday, August 30th 2014 - 11:03 UTC
Britain raises terrorism level to 'severe' in response to possible attacks

Britain raised its terrorism threat level on Friday to “severe”, the second highest level, in response to possible attacks being planned in Syria and Iraq, Home Secretary (interior minister) Theresa May said.
Saturday, August 30th 2014 - 07:27 UTC
UK embassy in Chile hosted launching of the Oxford University Alumni Society

The British Ambassador to Chile, Fiona Clouder, hosted a reception for the launch of the Oxford University Alumni Society. The event held at the British residence in Santiago was attended by current and former Oxford students, professors as well as other professionals interested in supporting the Society.
Saturday, August 30th 2014 - 07:07 UTC
New World Bank delegate in Argentina; 'country strategy' to be considered next month

The World Bank board of directors will be discussing sometime next month a new aid program for Argentina focused on combating poverty, but the loans approval can't be expected until next year, according to the bank's new representative in Argentina, Jesko Hentschel.
Friday, August 29th 2014 - 08:07 UTC
Singer extends 'discovery' looking for Argentine assets in Chinese banks

As it did in Nevada and California, a unit of billionaire Paul Singer's Elliott Management, which is Argentina's main holdout creditor, is extending its legal fight with the country to China. NML Capital served subpoenas this week to Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) in an effort to obtain information on 6.8bn dollars in financing for deals signed by the two countries in July.
Friday, August 29th 2014 - 07:32 UTC
Malaysia Petronas joins YPF to develop shale-oil reserves in Argentina

Argentine government controlled energy company YPF said on Thursday it signed a 550 million dollars agreement with Malaysia's Petronas to develop shale-oil reserves in the massive Vaca Muerta formation.
Friday, August 29th 2014 - 06:49 UTC
New technology could end the debate over pipeline safety

Who could have ever imagined that North America would surpass Saudi Arabia as the world’s largest producer of oil and natural gas liquids? A decade ago, that would have seemed laughable. Yet that’s exactly what has happened; and it’s not just Saudi Arabia that has been left in North America’s dust -- Russia has, too.