Investments

Thursday, September 25th 2014 - 05:17 UTC
Argentina must explain to Judge Griesa why it is not in contempt of court

New York district judge Thomas Griesa has asked Argentina to show cause and explain why the country should not be declared in contempt, following its decision not to pay holdout investors full amount for their defaulted bonds as the judge’s ruling ordered on August 8.
Thursday, September 25th 2014 - 05:11 UTC
US dollar brushes 16 Argentine Pesos, settles at 15.95; monthly devaluation 12.4%

The informal rate for the US dollar in Argentina kept climbing on Wednesday and after brushing 16 Pesos, finally closed 53 cents higher at 15.95 Pesos, while the gap with the formal dollar soared to 89%. Distrust with government policy, plain speculation and hikes in the stock exchange rate were blamed for the situation.
Thursday, September 25th 2014 - 05:06 UTC
Argentina publicly adds Germany to its list of 'hostile countries'

Argentine Cabinet Chief Jorge Capitanich on Wednesday lashed out at Germany's finance minister, denouncing Berlin's “hostile attitude” toward Argentina's debt restructuring effort. He added that Germany had always had a hostile attitude toward Argentina from an economic and financial point of view.
Thursday, September 25th 2014 - 03:14 UTC
Brazil scrambles to support the Real; as Dilma recovers in the polls the currency falls

Brazil’s Real advanced from a seven-month low as the central bank signaled it will maintain support for the currency when it increased the number of foreign-exchange swap contracts offered in a rollover.
Wednesday, September 24th 2014 - 15:55 UTC
Argentia economic situation can become 'harmful' for the region says Moody's

Credit ratings agency Moody's Investors Service has warned about the Argentine situation which can become “harmful” for Latin America, stating that the country's economy is in “decline” and qualifying current policies as “highly risky.”
Wednesday, September 24th 2014 - 15:50 UTC
WTO lowers global goods trade growth for this year and 2015

Global goods trade will grow less than hoped this year and next, and factors including regional conflicts and the Ebola outbreak are putting a quick return to stronger growth at risk, the World Trade Organization said today.
Wednesday, September 24th 2014 - 15:44 UTC
Marina blasts Dilma Rousseff for not supporting UN deforestation dead line initiative

Environmentalist and presidential opposition candidate Marina Silva blasted Brazilian president Dilma Rousseff for not supporting an initiative to put a deadline on deforestation supported by 32 countries this Tuesday during the Climate summit in New York.
Monday, September 22nd 2014 - 04:16 UTC
Mujica brags on foreign policy; Latam ready to play a larger role in peace issues, Europe has lost clout

Uruguay's president Jose Mujica said the latest world events show that Europe 'has lost clout' in global affairs, and has lost strength as 'peace mediator', and this role could be “much better performed by Latin America”.
Thursday, September 18th 2014 - 06:25 UTC
Developing oil field Libra off Brazil will cost 80bn dollars said France's Total

Brazil's biggest oil field, Libra, will cost 80 billion dollars to develop, according to a senior executive with France's Total, one of five consortium members participating in the project. Total's vice president of exploration and production for the Americas, Ladislas Paszkiewicz, made the estimate at the Rio Oil & Gas conference, which began Monday and runs through Thursday.
Thursday, September 18th 2014 - 05:03 UTC
Falklands oil company is ready to begin drilling at the end of 2015 first quarter

Falkland Oil and Gas Limited (FOGL) reported this week that it is making progress with its preparations for its next drilling campaign, which is scheduled to start during the first quarter of 2015 off the South Atlantic Falklands Islands.