Argentina has threatened oil firms seeking to operate off the Falkland Islands with 15-year jail terms, huge fines and confiscation of assets in a fresh salvo in the dispute with Britain over South Atlantic islands sovereignty. But UK reiterated that Argentine law does not apply to Falklands or British Overseas Territories.
Repsol appointed Deutsche Bank AG to advise it on the compensation pre-settlement it reached with Argentina regarding the seizure of 51% of YPF in April 2012. The arrangement was negotiated in Buenos Aires this week by ministers from Argentina and Spain, Repsol executives, and representatives from the Spanish company’s two largest shareholders, Mexico's Petroleos Mexicanos, Pemex and Barcelona-based CaixaBank SA.
The British Government will refuse to accept a return to the pre-2006 Cordoba Agreement practice of excluding the Gibraltar airport from EU aviation measures, Minister for Europe David Lidington told Parliament and pledged the inclusion of Gibraltar in all EU aviation legislation.
The United States pledged support for ally Japan in a growing dispute with China over islands in the East China Sea and senior US administration officials accused Beijing of behavior that had unsettled its neighbors.
Spanish oil group Repsol's board Wednesday backed a draft multi-billion-dollar compensation deal over Argentina's 2012 seizure of the company's YPF subsidiary. The deal seeks to repair the financial hit taken by Repsol when Argentina's President Cristina Fernandez in April 2012 ordered the seizure of Repsol's 51-percent stake in YPF.
Brazil's Supreme Court postponed until February a ruling on lawsuits by depositors that could cost the nation’s banks 65 billion dollars. Depositors claims relate to adjustments to accounts to compensate for hyperinflation and other drastic measures in early nineties mostly under president Fernando Collor de Melo.
Chancellor Angela Merkel's conservatives and the center-left Social Democrats (SPD) clinched a coalition deal early Wednesday that puts Germany on track to have a new government in place by Christmas.
Spain has assured London that the incident in which UK government bags containing official correspondence and communications were opened by Spanish officials at the Gibraltar border, will not see a repeat of these actions, according to an official release from the Foreign Office on the update to Parliament on the incident.
President Nicolás Maduro has sent clear messages to the Venezuelan central bank arguing that following the 'economic war' he declared on big business and hoarding with the mandatory cuts in prices, November should register 5% deflation and not inflation.
Brazilian president Dilma Rousseff is reluctant to allow the country's oil corporation Petrobras to increase the price of fuels this year, which would have an immediate impact on gasoline, transport and inflation, according to Folha de Sao Paulo.