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Last update: Mon, 02 May 2016 12am

South America

World - South America

Argentine president faces probe over 'Panama Papers' BUENOS AIRES: A federal prosecutor in Argentina opened an investigation Thursday into President Mauricio Macri's financial dealings via two offshore firms revealed in the so-called Panama Papers leaks.Prosecutor Federico Delgado said he had asked a judge to request information from the national tax authority and anti-corruption office to determine whether the conservative president "omitted, with malicious intent, to complete his sworn declaration" of assets, a requirement for Argentine public officials. Copyright AFP (Agence France-Presse), 2016 ...

World - South America

Venezuelans get Fridays off for two months to save energy CARACAS: Venezuelan workers will get Fridays off for the next two months as part of an emergency plan to save electricity, the president said.Venezuela has the world's largest proven oil reserves but its economy is a mess, with rampant inflation, shortages of goods as basic as soap and toilet paper and constant blackouts.Now, because of a severe drought that has left levels at hydroelectric dams at extremely low levels, in order save on electricity the ...

World - South America

Rousseff impeachment should go ahead: commission rep BRASÍLIA: The impeachment of Brazilian President Dilma Rousseff should go ahead, the representative for a congressional commission said Wednesday, bringing the country's political crisis a step closer to a showdown.Jovair Arantes, rapporteur for a special impeachment commission in the lower house of Congress, said he had concluded the "legal admissibility" of the case against the leftist president.The decision was given in a lengthy report that Arantes read aloud, live on national television, to the 65-member ...

World - South America

Brazil congressional report favors impeaching President Rousseff BRASILIA: Brazilian President Dilma Rousseff moved closer to impeachment when the rapporteur of a Congressional committee said on Wednesday there were grounds for the Senate putting her on trial for manipulating budget accounts in 2014 to boost her reelection prospects.Congressman Jovair Arantes told the 65-member lower house committee there were "minimal indications" that Rousseff had committed an impeachable crime, but that it was up to the Senate to judge the president.The committee will vote on ...

World - South America

Brazilian exchanges plan to launch power futures contracts SAO PAULO: Two Brazilian exchanges are planning to launch electricity futures contracts this year, betting that companies will jump at the chance to protect against big price swings amid an uncertain outlook for the sector.BBCE, an over-the-counter, electronic platform to trade power, and Brix, an electricity exchange partly owned by the Intercontinental Exchange (ICE), said they are working on the derivatives' terms and seeking regulatory approval.Brazil spot power prices have oscillated widely in the last ...

World - South America

Brazilian impeachment commission head to give symbolic verdict BRASÍLIA: The head of Brazil's impeachment commission was to give his verdict Wednesday on whether President Dilma Rousseff should be ousted, raising the temperature another notch in a political crisis engulfing Latin America's biggest country.Lawmaker Jovair Arantes, who presided over the cross-party congressional commission examining the fate of Brazil's first woman president, was to present his recommendation at 1700 GMT.Arantes' decision is non-binding and mostly of symbolic value but will move the furious debate over ...

World - South America

Brazil president faces key call in impeachment drive BRASÍLIA: Brazilian President Dilma Rousseff's battle to cling to power enters a crucial phase Wednesday as lawmakers hear a motion on whether there are grounds to impeach her.A congressional committee has wrapped up its preliminary sessions and will now hear lawmaker Jovair Arantes present his recommendation on whether congress should vote to open an impeachment trial. He is expected to make his recommendation to the commission at 1700 GMT. Brazil's political crisis rumbled on Tuesday ...