
The Argentine government will appeal on Monday before the US Supreme Court for the second time against the hedge funds claim. The Supreme Court is the last judiciary step in the dispute.

In what was described as a shameful incident, Brazil had to retract from statements made by one of its diplomats, a condition demanded by Argentina to continue negotiations for a Mercosur common tariffs reduction proposal which was taking place in Caracas. The incident occurred last week but only came to light over the weekend.

China's inflation rate remained subdued in January, despite rising food prices during the New Year celebrations. Consumer prices held steady at 2.5% from a year earlier, which was slightly higher than many economists expected.

Repsol signed a financing deal Friday with Venezuelan state oil company PDVSA that calls for the Spanish energy major to invest 1.2 billion dollars to boost the output of the companies' Petroquiriquire joint venture.

Pravda, Russia’s political newspaper associated with the Communist Party, welcomed Gibraltar into UEFA’s family in an article publish online on Thursday.

At the Annual General Meeting of UKOTA (United Kingdom Overseas Territories Association) held on Wednesday, Gibraltar was elected Chair of UKOTA. Albert Poggio the Gibraltar Government’s United Kingdom Representative, will represent Gibraltar in this role.

The International Association of Antarctica Tour Operators (IAATO) and two IAATO Member Operators, Aurora Expeditions and Oceanwide Expeditions, took part in a live Search and Rescue Communications Exercise in collaboration with the Maritime Rescue Coordination Center (MRCC) Ushuaia, Argentina.

The Argentine Foreign Ministry denied in a statement released on Thursday that Buenos Aires sea port authorities threatened Bermuda registered 'Queen Victoria' Cunard cruise ship with hefty fines if it did not lower its “red duster” flag, the ensign for the United Kingdom merchant vessels.

According to reports in the British media, Cunard's 'Queen Victoria' was warned it faced hefty fines if the cruise continued to fly the red ensign while in the port of Buenos Aires. This has led to a strong reaction from the Foreign Office which described the incident as an 'unacceptable example of harassment and intimidation” and anticipated it will be raising the incident with the Argentine authorities.

Ambassador Fiona Clouder has taken her post as the new British ambassador in Chile. On taking the post Ms Clouder reaffirmed the close relations of UK with Chile, one of the most important countries in the region.