Politics

• Thursday, November 29th 2012 - 14:00 UTC

  Brazil ends cuts and keeps key interest rate unchanged at 7.25%

  

  Brazil's central bank kept its key interest rate unchanged at 7.25% on Wednesday, ending a series of cuts since last year, as the world's sixth largest economy tries to contain inflation.

• Thursday, November 29th 2012 - 06:50 UTC

  Cristina Fernandez described Argentina as the ‘counter model’ of IMF and the world’s masters

  

  President Cristina Fernández de Kirchner ratified on Wednesday that Argentina will continue to pay all its financial obligations and described as “absolutely unfair” the ruling from Judge Thomas Griesa who favoured the hedge funds to the detriment of 93% of bondholders who joined the 2005 and 2010 debt swaps.

• Thursday, November 29th 2012 - 06:42 UTC

  Argentina increases 44% wellhead natural gas prices to attract investment

  

  Argentine president Cristina Fernandez announced on Wednesday that wellhead natural gas prices are to rise substantially from current levels, an estimated 44%, with the purpose of attracting more investments and increasing production.

• Thursday, November 29th 2012 - 00:31 UTC

  Argentina saved from a ‘technical default’; court case continues February 27

  

  A US appeals court on Wednesday granted an emergency stay order that gives Argentina more time to argue against making a 1.33 billion dollars payment to investors who rejected two debt restructurings in the nation's 2002 sovereign debt default.

• Wednesday, November 28th 2012 - 23:11 UTC

  ARA Libertad can’t be impounded according to IMO, says Ambassador Castro

  

  The International Maritime Organization (IMO) certified that the ARA Libertad frigate is a military vessel, therefore, it can not be impounded, Argentina's ambassador to the UK, Alicia Castro, reported.

• Wednesday, November 28th 2012 - 22:20 UTC

  Colombia withdraws from UN Justice Court angry at latest ruling on Caribbean islands

  

  Colombia has withdrawn from a treaty that binds it to the UN International Court of Justice in anger at a ruling that shifts some of its resource-rich waters to Nicaragua, President Juan Manuel Santos announced on Wednesday.

• Wednesday, November 28th 2012 - 21:50 UTC

  Chile and Mexico among the best performing members of OECD in next two years

  

  Chile and Mexico will manage to a great extent to avoid the negative prospects from OECD members in the next two years. The half year report from the Organization for Economic Cooperation and Development anticipates a serious weakening of activity in the Euro zone, the US and Japan, but the two OECD Latinamerican members as well as emerging power Brazil will have a contrasting performance.

• Wednesday, November 28th 2012 - 21:14 UTC

  Burdened by domestic problems Brazil’s Rousseff will be absent from Unasur summit

  

  Brazilian president Dilma Rousseff has cancelled her attendance to the Union of South American Nations, Unasur summit in Peru on Friday because of “agenda problems” and previous “domestic engagements”, according to the Planalto press secretary office. Vice-president Michel Temer will be attending in her name.

• Wednesday, November 28th 2012 - 20:28 UTC

  Argentina faces 65bn dollars in claims; plans to abandon international litigations court

  

  Argentina faces 42 claims at the World Bank’s ICSID in which the plaintiffs are demanding compensations for almost 65 billion dollars, revealed Eduardo Barcesat legal advisor to the Argentine Treasury and one of several lawyers who has defended the country in those litigations.

• Wednesday, November 28th 2012 - 16:42 UTC

  EC 37bn Euro check for Spanish banks but 50% of branches must go and hair cut for bond holders

  

  The European Commission gave on Wednesday the go ahead for Spain to overhaul its stricken nationalized banks and opened the door for nearly 40 billion Euros in Euro zone aid to be disbursed, offering hope for an end to Spain's banking crisis.