Americas

The Commerce Department has permitted two firms to export ultra-light oil, although the White House insists this does not signal a change in policy

US eases crude oil export ban, but denies changing policy

The Commerce Department has permitted two firms to export ultra-light oil, although the White House insists this does not signal a change in policy

Following a four decade-long ban on unrefined crude oil exports, the US Commerce Department has given the go-ahead for two firms to export ultra-light oil to international buyers. The move comes amid emboldened domestic oil production and growing calls fo...

The US Supreme Court has dolled out a severe blow to the Argentinian economy after ruling that the country has to pay more than $15bn in debt to holdouts

Argentina may default on outstanding debt

The US Supreme Court has dolled out a severe blow to the Argentinian economy after ruling that the country has to pay more than $15bn in debt to holdouts

Judges in US’ highest court have ruled that Argentina cannot appeal or evade paying back more than $15bn owed to creditors who bought cheap Argentinian debt following the country’s $82bn default in 2001. The ruling is the culmination of a long legal b...

The country’s economy contracted a little more than expected in the first quarter. However, macroeconomic indicators suggest there is cause for optimism moving forwards

Economists blame weather as US economy contracts in Q1

The country’s economy contracted a little more than expected in the first quarter. However, macroeconomic indicators suggest there is cause for optimism moving forwards

Revised Department of Commerce figures show that the US economy shrunk in the first quarter of 2014, marking the country’s first instance of economic contraction in three years. On an annualised basis, the economy contracted by one percent, little under...

Dry conditions and a challenging economic environment in Brazil may push sugar market into deficit

Brazil’s sugar market takes a beating as economy suffers

Dry conditions and a challenging economic environment in Brazil may push sugar market into deficit

Brazil has been facing an enduring drought over the past quarter adding pressure to an already strained market. Surpluses over the past three years have caused prices to drop to record lows, fuelling an increasing in demand that the industry is unlikely t...

The Pacific Alliance is set to boost trade in several Latin American economies. But some are concerned it is simply designed to cause geopolitical divide between left-wing and right-wing governments

Latin America’s Pacific Alliance trade bloc is one to watch

The Pacific Alliance is set to boost trade in several Latin American economies. But some are concerned it is simply designed to cause geopolitical divide between left-wing and right-wing governments

Trade deals are becoming an increasingly popular way for economies to foster growth and promote exports in a globalised world. The new kid on the trade block is the Pacific Alliance, which is set to become a chief trading organ for the dealing with Latin ...

Once the most traditional of American industries, cattle rearing and beef production has been in swift decline while prices soar. Over the years, beef has gone from a food staple to a luxury good for millions of Americans, and it is not likely to revert back any time soon

US beef production drops as cattle herds dwindle

Once the most traditional of American industries, cattle rearing and beef production has been in swift decline while prices soar. Over the years, beef has gone from a food staple to a luxury good for millions of Americans, and it is not likely to revert back any time soon

The hamburger is, in many ways, the quintessential American foodstuff – from the sweet white bun to the meaty beef patty. It has long been a staple in the diet of millions of Americans, for better or worse, and has evolved as a sort of shorthand for all...

Investment opportunities in Colombia’s hydrocarbons sector look set to rise, given that companies such as Reficar are instilling a greater sense of sustainability in the industry

Reficar invest in long term Colombian production

Investment opportunities in Colombia’s hydrocarbons sector look set to rise, given that companies such as Reficar are instilling a greater sense of sustainability in the industry

Colombia has long been among Latin America’s brightest geographies for oil production, a status that shows no signs of fading. Government policy and economic growth have set the scene for a significant rise in oil production. The boom in Colombia’s...

Detroit has become the biggest city in US history to file for bankruptcy, after drowning in debts of almost $19bn

Detroit goes bust

Detroit has become the biggest city in US history to file for bankruptcy, after drowning in debts of almost $19bn

The motor city formally filed for chapter nine bankruptcy after Kevyn Orr, Detroit’s emergency manager, failed to broker a deal between the city’s pension funds and its bondholders. Until a court can review the case, an automatic stay will be issued o...

Challenges for Colombia’s extractive industries

The Colombian hydrocarbons sector has undergone impressive changes over the past decade, though resulting figures have revealed for continued growth there should be an even greater capacity for exploration and extraction

The present constitution of the Colombian hydrocarbons sector can, and should be, analysed from two perspectives – its achievements and future challenges. Comprehensive economic indicators exhibit for considerable progress to have been made through rece...

Latin American aviation emerges on course

In such a rapidly growing part of the world, good connections are vital to ensure businesses get access to key destinations. The recently merged Avianca group is leading the way in a highly competitive market

The Latin American airline industry has been undergoing a period of consolidation in recent years, with Chile’s LAN and Brazil’s TAM merging last year, creating LATAM, the region’s largest carrier. However, this era of consolidation was kick-started...

Bci: Chilean resources offer substantial returns

Having exhibited unprecedented economic growth in recent years, Chile looks to have the resources in place to continue to appeal to investors around the world

Chile’s steadfast economic constitution and auspicious prospects for the future have cemented the country’s high standing as one of the foremost economic havens of the present day. Last year, a time in which the vast majority of economies exhibited de...

Colombia: Latin America’s rising star

Colombia’s domestic economy is growing, as are its foreign assets. There is little to suggest it cannot continue to grow over the coming decade, even if its political situation remains tinged with uncertainty

From its position as a declared ‘failed state’ in the 90s, Colombia has turned into one of the most stable growing markets in Latin America. The economy grew six percent in 2011 and four percent in 2012, with similarly strong growth forecasts over the...

The Hugo Chávez legacy in Venezuela could last generations, with the Commandante’s career forging a strong impact on the nation’s economy and culture

The televised revolution

The Hugo Chávez legacy in Venezuela could last generations, with the Commandante’s career forging a strong impact on the nation’s economy and culture

February 1999: Chávez, a former paratrooper, is inaugurated as president of Venezuela for a six-year term after castigating the “rotten elite” that plundered much of the country’s natural wealth. Venezuela remains resource-rich, however, mainly fro...

As the world’s most costly office building, One World Trade Centre is one of the most ambitious real estate projects in development today. Rita Lobo finds out how, plagued by delays and disputes, the multi-billion dollar complex is slowly emerging to transform Manhattan’s skyline

One World Trade Centre: phoenix rising from the ashes

As the world’s most costly office building, One World Trade Centre is one of the most ambitious real estate projects in development today. Rita Lobo finds out how, plagued by delays and disputes, the multi-billion dollar complex is slowly emerging to transform Manhattan’s skyline

One WTC’s key players Larry Silverstein A top New York City real estate investor, Brooklyn-born Silverstein won the lease for the World Trade Centre with a $3.2bn bid. Weeks later, the terrorist attacks of 9/11 razed the building to the ground. A...

World Finance interviews James Campbell, Executive Director of Hospital Redevelopment at Bermuda Hospitals Board, and Ian Bendal, Foreign Legal Consultant for Davis LLP, the hospital's PPP legal advisors

James Campbell, Ian Bendall | Bermuda Hospitals, Davis LLP

World Finance interviews James Campbell, Executive Director of Hospital Redevelopment at Bermuda Hospitals Board, and Ian Bendal, Foreign Legal Consultant for Davis LLP, the hospital’s PPP legal advisors

With only one acute hospital on its shores, Bermuda's healthcare has not always been at the forefront of government priorities. However, the country is now financially able to broaden its primary infrastructure, and the redevelopment of King Edward VII Me...

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