Paraguay

• Tuesday, October 21st 2014 - 06:24 UTC

  UK company confirms discovery of oil in the Paraguayan Chaco

  

  President Energy announced on Monday it has discovered good oil-bearing zones at its Lapacho drill in the Paraguayan Chaco and confirms strong hydrocarbon pay at its Jacaranda well.

• Friday, September 26th 2014 - 06:20 UTC

  Pope Francis removes Opus Dei bishop accused of protecting pedophile priest

  

  Pope Francis has dismissed a conservative Paraguayan bishop who was accused of protecting a priest suspected of sexually abusing young people in the United States, the Vatican said on Thursday.

• Tuesday, September 16th 2014 - 05:28 UTC

  Mercosur/Pacific Alliance foreign ministers plan to meet in Chile in November

  

  Foreign affairs ministers from Mercosur and the Pacific Alliance will be meeting next 24 November in Santiago de Chile to explore a possible integration between the two blocks according to Paraguay's foreign minister Eladio Loizaga.

• Wednesday, September 10th 2014 - 04:29 UTC

  Paraguay argues that soccer was first played by Guarani tribes, according to Jesuit reports

  

  The Guarani tribes that lived in South America in the 17th century used to play a sport similar to soccer when the Jesuits arrived to establish their missions, claims a video based on historical documents released by Paraguay’s Secretary for Culture. Entitled “The Guaranies invented soccer,” the video collects findings made by anthropologists who studied the Jesuits’ legacy in the country.

• Monday, September 1st 2014 - 10:52 UTC

  Paraguay becomes world's eight exporter of beef; Argentina drops to position 11

  

  Paraguay has moved to eighth world exporter of beef and is planning to double the number of cattle slaughtered by 2020, according to the country's Rural Association, ARP. Last year 2.2million head of cattle were slaughtered in Paraguay, and 73% of the beef was exported while the rest was domestic consumption.

• Wednesday, August 13th 2014 - 05:28 UTC

  Finally Cristina Fernandez is on an official visit to Paraguay

  

  Argentine president Cristina Fernandez arrived Tuesday evening to Paraguay to begin early Wednesday an official visit which has been delayed several times. Besides the usual agenda discussions and accords signing with her peer Horacio Cartes, the visit will also have a strong symbolism since the Argentine president will be formally returning to Paraguay furniture and other belongings from one of the country's most revered leaders, Francisco Solano Lopez.

• Wednesday, August 6th 2014 - 00:12 UTC

  Paraguay sells 1 billion dollars in 30-year sovereign bonds

  

  Paraguay sold 1bn (one billion) dollars in 30-year bonds on Monday in New York, its second international debt issue in less than two years. President Horacio Cartes said in a statement that the issue's 6.1% yield is unprecedented for the country, and that the proceeds will be used for highway, building and energy infrastructure, as well as agricultural production.

• Monday, July 28th 2014 - 07:04 UTC

  Uruguay, Paraguay and Bolivia private sectors unite to combat Mercosur protectionist policies

  

  The private sectors from Paraguay, Uruguay and Bolivia agreed to form a business lobby, Urupabol, with the purpose of actively combating protectionist policies and other obstacles implemented inside Mercosur, mainly by senior members Argentina and Brazil.

• Monday, July 21st 2014 - 07:14 UTC

  Mujica recalls Uruguay's participation in the Triple Alliance major genocide

  

  President Jose Mujica underlined the strong identity of Uruguay with the Paraguayan people, but also recalled no the “immense debt that we never settled or will we ever be able to settle for having participated in the War of the Triple Alliance”.

• Monday, July 14th 2014 - 23:09 UTC

  Paraguay's currency steadily becoming a 'strong' currency based on positive indicators

  

  The Paraguayan currency, Guaraní, is expected to revalue 1.4% against the US dollar by the end of the year becoming one Latam's strongest given its positive macroeconomic indicators. This follows a strong performance during the first half of the year when the price of the dollar in the capital Asunción wholesale money exchanges dropped from 4.450 Guaraní to 4.240, according to private consultants “Consensus Economics”.