Latin America

Sunday, November 3rd 2013 - 03:18 UTC
US appeals court rules in favor of Argentina; rejects lift of stay requested by hedge funds

A US appeals court said on Friday it would leave a freeze in place on an order requiring Argentina to pay 1.33 billion dollars to bondholders suing for full face repayment in the wake of the country’s 2002 default.
Sunday, November 3rd 2013 - 00:42 UTC
Brazil posted in September its highest primary budget deficit in five years

Brazil posted a primary budget deficit of 9.048 billion Reais (4.1 billion dollars) in September, its biggest in nearly five years and the government reacted announcing a plan of cuts fearing an impact from credit rating agencies.
Sunday, November 3rd 2013 - 00:16 UTC
Latam needs to invest 2 trillion dollars in infrastructure in next 20 years

Latin America will need 2 trillion dollars investment in the energy sector during the coming twenty years to sustain its development growth, according to a conference on “Energy: a vision of the challenges and opportunities in Latin-American and the Caribbean” sponsored by Latam Development Bank, CAF.
Sunday, November 3rd 2013 - 00:03 UTC
Brazil's golden boy files for bankruptcy; an example of overblown expectations?

Just a few year ago, flashy Brazilian billionaire Eike Batista was bragging that he would soon overpass Carlos Slim as the world's richest man. He even liked to show visitors his Mercedes-Benz McLaren parked right in the living room of his mansion. But his fall has been deep and fast.
Saturday, November 2nd 2013 - 23:39 UTC
Chile's Torres del Paine park named '8th Wonder of the World” by VritualTourist

VirtualTourist announced that after more than five million worldwide votes, Turismo Chile's entry of Torres del Paine National Park has been named the “8th Wonder of the World”.
Saturday, November 2nd 2013 - 21:03 UTC
Mujica says Argentina's attitude in Mercosur is 'insular' and shatters integration

Uruguay President José “Pepe” Mujica questioned Argentina’s recent decision to stop freight transfers at ports belonging to Mercosur countries Buenos Aires has no maritime agreements with. Mujica blasted an “insular” position that “shatters” regional integration.
Saturday, November 2nd 2013 - 15:41 UTC
“From the ”Labyrinth of Solitude“ to a ”Network of Partnerships”, the new story of Mexico

By R. Viswanathan (*) Octavio Paz, the celebrated Mexican writer who was Ambassador to India in the sixties, wrote in his book “The Labyrinth of Solitude“ that the ”Mexican is always remote from the world and other people”. This was his conclusion after an in-depth analysis of the character and identity of the Mexicans who have inherited a mix of Aztec and Mayan Indian traditions and European culture and have been influenced overwhelmingly by the culture of US.
Friday, November 1st 2013 - 21:40 UTC
Argentina warns Barrick on announced suspension of gold mine project

Barrick, the world’s largest gold mining company, is indefinitely suspending construction of its troubled gold mine straddling the Chile-Argentine border, part of a cost-cutting effort that also involves 10 other mining projects around the world.
Friday, November 1st 2013 - 21:36 UTC
Dollar-short Venezuela creates new exchange rate system for arriving tourists

Venezuela will create a new exchange rate for tourists to buy up to US$10,000 of the local Bolivar currency per year in a measure intended to help reduce black market trading, the government said in its official gazette.
Friday, November 1st 2013 - 05:59 UTC
Argentina will again be 'a normal country', when Cristina Fernandez is out of the political stage

Uruguayan former president Jorge Batlle (2000/2005) said on Facebook that Argentina will again “be a normal country” when President Cristina Fernandez “disappears from the political stage”. And when this happens “the Argentines are going to be happier and as a consequence so will we”.