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UN court says it can rule in Bolivia vs Chile row THE HAGUE: The UN's highest court Thursday agreed to take up a century-old dispute between Chile and Bolivia, saying it could rule in the case as La Paz seeks to regain access to the Pacific.The Hague-based International Court of Justice (ICJ), which oversees disputes between countries, said it "has jurisdiction... to entertain the application filed by Bolivia."A hearing dealing with the substance of the case however is not expected to open for several months.Bolivia -- South America's poorest country -- became landlocked after losing a four-year war against Chile at the end of the 19th century, forfeiting territory and its access to the sea.The two countries have had only limited diplomatic relations since 1978.After a number of fruitless negotiations with Santiago over the issue, La Paz lodged a complaint to the ICJ in April 2013.Bolivia wants the ICJ to order Santiago to negotiate "in good faith" to restore its access ...

Chile's president has new slogan: ‘Tomorrow could be worse’ SANTIAGO: Chilean President Michelle Bachelet said she had a slogan to keep her going as her country battles one natural disaster after another: "Tomorrow could be worse." During an interview on a breakfast TV program on Wednesday, Bachelet discussed how she coped with leading Chile through the world's biggest earthquake in 2015 as well as two major volcanic eruptions, floods, fires and tsunamis since returning to the presidency in March 2014. "I have come to ...
Colombia and Venezuela to normalize ties after border row QUITO: Colombia and Venezuela agreed on Monday to restore diplomatic dialogue and oversee "progressive normalization" of their border, after a meeting between Colombian President Juan Manuel Santos and his counterpart Nicolas Maduro.The two countries have been locked in a border conflict for a month, after Maduro ordered the closure of part of the frontier, saying some of his military were attacked during an anti-smuggling operation by Colombian paramilitaries.Ecuadoran President Rafael Correa, who hosted the talks ...
Brazil top court bans corporate political financing BRASÍLIA: Brazil's Supreme Court banned on Thursday corporate donations to election campaigns and political parties in a bid to avoid a repetition of the massive kickbacks scandal that has roiled the country.The top court voted 8-3 to allow election donations from individuals but not from companies because it was "unconstitutional," concluded Chief Justice Ricardo Lewandowski.Michael Mohallem, law professor at Fundacion Getulio Vargas in Rio de Janeiro, called it "one of the most important decisions in ...
Brazil president's own supporters revolt against her austerity plans BRASÍLIA: When Brazil's leftist President Dilma Rousseff loses the support of someone like longtime backer Edson Silva, perhaps she had better start worrying.Silva is an anti-homelessness activist, traditionally the kind of foot soldier the ruling Workers' Party could count on -- and presumably a natural ally for Rousseff when the rest of the country is turning angrily against her.So what was Silva, 34, doing this Wednesday?Fuming against Rousseff's latest economic austerity plan. It entails cutting ...
Brazil's fiscal plan is a positive development, says Moody's RIO DE JANEIRO: Brazil's recently-announced austerity measures are a "positive development," a senior analyst with Moody's Investors Service said on Tuesday in a vote of confidence to President Dilma Rousseff's efforts to plug a budget deficit in 2016. Moody's analyst Mauro Leos welcomed Rousseff's plan to adopt structural measures that address budget rigidities, saying that such a move is critical for Brazil to "preserve its Baa3 credit rating and stable outlook." Copyright Reuters, 2015 ...
Guyana to ask Google to remove street names in disputed border region GEORGETOWN: Guyana intends to ask Google to remove certain street names near its disputed shared border with Venezuela, Guyana's foreign minister said Monday.The names, in Spanish, seem to suggest they are part of Venezuela, Carl Greenidge said Monday."We have to get technical advice to get Google to remedy it. We have to see how Google can be made to be responsible. Maybe they are not aware," he told reporters.Greenidge noted that Google Maps has labeled ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln