Venezuela President Hugo Chavez threatened on Sunday to nationalize any private bank that fails to comply with local legislation setting standards for agricultural finance and other projects in the country. The leftist leader, who since 2008 has increased state involvement in the financial sector, has criticized banks repeatedly for their lack of support with agriculture [...]
Brazilian prosecutors are planning to file criminal charges against Chevron Corp within the next several weeks, adding the possibility of prison time to an $11 billion civil lawsuit for a November oil spill offshore. The federal court filing in Campos, Brazil, will probably include a criminal indictment of Chevron Brazil CEO George Buck and other staff, [...]
2012 Jan 28 | Posted in
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Venezuelan President Hugo Chavez announced on Sunday that his nation will not recognize any decision by a World Bank tribunal in a multibillion-dollar arbitration case against Exxon Mobil Corporation. Exxon has called Venezuela before the World Bank’s International Center for Settlement of Investment Disputes, or ICSID, demanding $12 billion in compensation for nationalization of the Cerro [...]
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Venezuelan President Hugo Chavez claimed this week that China may replace the U.S. as Venezuela’s leading trade partner, thanks to a strategic alliance between those two nations. Chavez said that commerce between Venezuela and China has reached $20 billion this year, up from $600 million a decade ago, and is now growing by $2 billion [...]
Arrests of illegal migrants crossing the US-Mexico border have plunged to levels not seen since the early ’70s, according to tallies released by the US Department of Homeland Security, a major change which could affect the debate over immigration reform. The Border Patrol apprehended 327,577 illegal crossers in fiscal year 2011, numbers not seen since [...]
Under a new pilot program, U.S. Customs and Border Protection (CBP) the entry process for air cargo is designed to reduce the number of customs holds that delay air cargo and help give shippers a better idea of when they can take possession of their goods Already starting in December, importers or brokers of air [...]
2011 Nov 25 | Posted in
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The Brazilian Federal Police department announced that it has begun investigating an oil spill in an offshore field operated by multinational producer Chevron Corporation off the coast of Rio de Janeiro. Federal Police department environmental affairs division chief Fabio Scliar told government news service Agencia Brasil that his division began looking into the causes of [...]
Chilean airline LAN has avoided a lawsuit from local competitor PAL and reached an agreement that will allow LAN to proceed in their planned marriage with Brazilian airline TAM. The merger would create one of the largest airline groups in the world. LAN, one of the leading carriers of Latin America, announced Tuesday that [...]
2011 Oct 27 | Posted in
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Relations between members of the Organization of Petroleum Exporting Countries (OPEC) appear to be suffering as a result of the Arab Spring and unilateral decisions to increase production taken by members of the Gulf Cooperation Council. This week Venezuelan president Hugo Chavez told visiting Russian vice minister Igor Sechin and energy minister Sergei Shmatko that [...]
Activity in the global arms trade declined 38 percent last year, according to a report released by the US Congressional Research Service. Sales dropped from $65.2 billion in 2009 to $40.4 billion, the lowest level since 2003. In spite of its financial crisis the US continues to lead the pack with 57.2% of the market, [...]
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