Investments

Wednesday, August 21st 2013 - 18:39 UTC
Sharp decline of oil and gas from off-shore UK is ‘worrying’ says annual report

The sharp decline in production of oil and gas from under British waters is “worrying” industry leaders. Trade body Oil and Gas UK says there is record investment this year of £13.5bn, but its annual report on the industry's economic impact highlights the sharp fall in output of 19% during 2011 and 14% in 2012.
Wednesday, August 21st 2013 - 18:36 UTC
Controversy with FIFA over hotel prices for the 2014 World Cup

The Brazilian government has expressed concern that some hotels listed on FIFA website for the 2014 World Cup plan significant price increases during the tournament. Brazil’s tourism board, Embratur, is said to have notified the justice ministry after its research showed that rates will be up to 500% more expensive during the World Cup in some hotels offered by the MATCH Services agency on FIFA website.
Wednesday, August 21st 2013 - 18:26 UTC
Al-Jazeera despite ‘aggressive hostility’ launches TV news-channel in United States

Al Jazeera is launching a new TV news channel in the United States. The network will be available in almost 48 million US households, offering 14 hours of news each day. Al Jazeera replaces Current TV, the cable television network founded by former US Vice President Al Gore, which the Qatar-owned broadcaster acquired in January 2013 for around 500m dollars.
Friday, August 16th 2013 - 18:00 UTC
Canadian bank abandons Uruguay following raid on its office on request from Argentine judge

The Royal Bank of Canada, RBC, is abandoning Uruguay following a raid in its offices at Zonamerica ordered by a Uruguayan magistrate on request from Argentina during which computers, documents on clients and even cell phones from staff were seized by the intervening party which included on-watching Argentine treasury police.
Friday, August 16th 2013 - 17:46 UTC
Ecuador ‘forced’ to drill for oil in pristine Amazon rainforest; ‘rich countries have failed us’

Ecuador has abandoned a conservation plan that would have paid the country not to drill for oil in previously untouched parts of Yasuni National Park in the Amazon rainforest. President Rafael Correa said rich nations had failed to back the initiative, leaving Ecuador with no choice but go ahead with drilling.
Friday, August 16th 2013 - 03:22 UTC
Brazilean congress clears the way for sale of giant Libra offshore oil prospect

The Brazilian congress rejected an amendment to an oil-royalty bill that threatened to derail the world's largest-ever sale of rights to develop offshore oil resources scheduled for October 21. The amendment had sought to set the Brazilian government's minimum share of “profit oil” from the sale of the giant Libra offshore prospect and other fields in Brazil's most productive oil area at 60%.
Tuesday, August 13th 2013 - 02:14 UTC
Uruguay announces on-shore oil “scientific confirmation” but with no commercial certainty

The Uruguayan government announced the discovery of free hydrocarbons liquids in core samples next to source rocks in the northern county of Salto at a depth of 450 metres, which seems to be similar to another discovery two years ago.
Monday, August 12th 2013 - 01:09 UTC
Brazil to auction Rio do Janeiro and Belo Horizonte airports concessions

An auction to privatize airports in Rio and Belo Horizonte, two host cities for the 2014 World Cup, will be held on October 31, Brazilian authorities have announced.
Sunday, August 11th 2013 - 21:36 UTC
Honda to build a second assembly plant in Sao Paulo operational by 2015

Japanese automaker Honda plans to build a new assembly plant in the Brazilian state of Sao Paulo with an annual capacity of 120,000 units, the company said.
Saturday, August 10th 2013 - 01:58 UTC
UK opens second largest offshore wind farm in the world

Greater Gabbard wind farm, which is reportedly the second largest offshore wind farm in the world, costing £1.3 billion and generating enough clean electricity to power over half a million homes, was officially opened off the British coast of Suffolk by the Energy and Business Minister Michael Fallon.