12042016Sun
Last update: Sun, 04 Dec 2016 01pm

South America

World - South America

Bypassing congress, Maduro decrees Venezuela budget CARACAS:- Venezuelan President Nicolas Maduro issued the government's 2017 budget by decree Friday, bypassing the opposition-held legislature in a move that could deepen the country's economic crisis."Here is the 2017 budget and debt law. May it be fulfilled. I ask for the support of the people, the military and the street," Maduro said at a signing ceremony in Caracas attended by hundreds of supporters.The move came a day after Venezuela's Supreme Court -- which the opposition says is stacked with Maduro supporters -- ruled that the leftist leader did not have to submit his budget to the National Assembly, despite a constitutional requirement to do so.The court said the ruling aimed to "maintain the functioning of the state, the guarantee of fundamental rights and constitutional order."The court has said that the National Assembly is in contempt because it has sworn in three opposition legislators whose election is still being challenged ...

World - South America

Colombia's Santos extends ceasefire with FARC to December 31 BOGOTA: Colombian President Juan Manuel Santos said Thursday a ceasefire with the country's FARC guerillas has been extended until December 31 but that he hopes to have "a new agreement" for peace before that date."I have made the decision to extend the bilateral ceasefire until December 31. Let this be clear: This is not an ultimatum nor a deadline, but I hope that the entire process of obtaining a new agreement will be complete well ...

World - South America

Brazil lawmakers approve 20-year public spending cap BRASÍLIA: Brazil's lower house on Monday approved a proposal to cap public spending increases for 20 years, a key component of new President Michel Temer's economic recovery program.Temer, from the center-right PMDB party, has vowed far-reaching reforms to drag Brazil out of its worst recession in almost a century.The spending cap, which requires a constitutional amendment to limit budget increases to the rate of inflation for the next 20 years, would mean freezes in health, ...

World - South America

Venezuela president urges 'new mechanism' for higher oil prices ISTANBUL: Venezuelan President Nicolas Maduro on Monday called for fairer oil prices to help producers, saying OPEC and states not aligned with the cartel needed to create a "new mechanism" to ensure the price of oil was propped up.Speaking at the World Energy Congress in Istanbul, Maduro said an informal meeting of cartel members on Wednesday that was also expected to include non-OPEC state Russia could be a first step towards creating a new alliance.The ...

World - South America

Brazil's Temer confident of spending cap but has no plan B BRASILIA: Brazilian President Michel Temer said on Monday he was confident his proposal to cap public spending would be approved in Congress, but had no alternative plan to avert a fiscal crisis that threatened to further sink Latin America's biggest economy. Temer was scrambling to get the three-fifths of votes needed in the lower house of Congress to approve the constitutional amendment. He met with dozens of lawmakers late on Sunday and gave leaves of ...

World - South America

Santos: Colombia rebels' archfoe turned peacemaker BOGOTA: Colombian President Juan Manuel Santos, who won the Nobel Peace Prize Friday, is a son of a powerful family who staked his legacy on troubled efforts to make peace with the communist FARC rebels.The Nobel Committee hailed the two-term president's "resolute" bid to end Latin America's longest conflict -- despite a shock referendum defeat last weekend for the peace accord he has championed."I prefer an imperfect accord that saves lives to a perfect war ...

World - South America

Chile Bachelet's approval rating picks up in Sept after historical low SANTIAGO: Chilean President Michelle Bachelet's approval rating ticked higher in September, breaking a recent downward trend that had pushed her ratings to an historical low a month earlier, pollster Gfk Adimark said on Thursday. Center-left Bachelet, who ruled in 2006-2010 and then returned for another four years in 2014, had enjoyed sky-high ratings after her first term. But those numbers plummeted as her ambitious second-term reform agenda to tackle inequality and education of the poor ...