Blog Archives

Anonymous bring down Interpol website in retaliation for 25 arrests

image

Supporters of the Anonymous hacker group attacked Interpol‘s main website after the international police agency conducted a number of hacker arrests across the globe.

­The website Interpol.int was unreachable for a half hour on Wednesday, Forbes reports. Access was later restored, although the loading time remains slow. The attack appears to have been conducted using a botnet. Anonymous Twitter accounts tweeted “interpol.int seems to be #TangoDown. We can’t say that this surprises us much,” and “Looks like interpol.int is having some traffic issues. Now who would have expected that?”

The attacks came as Interpol announced the arrests of 25 suspected Anonymous members, aged between 17 and 40, who it alleges planned coordinated cyber-attacks against Colombia’s defense ministry and presidential websites, Chile’s Endesa electricity company and national library, among other targets. The arrests were part of Operation Unmask, during which police in Colombia, Argentina, Chile and Spain seized computers, mobile phones, credit cards and cash at 40 locations in 15 cities.

Among the 25 under arrest are four Anonymous hackers detained by police in Spain earlier on Tuesday under claims that they conducted attacks on Spanish political parties’ websites. The Spanish National Police also said two servers in Bulgaria and the Czech Republic had been blocked as part of Operation Unmask, and that a manager of Anonymous’ operations in Spain and Latin America, known by the aliases “Thunder” and “Pacotron,” was among those arrested.

The four are also suspected of vandalizing websites, conducting DDoS attacks and publishing sensitive data on police officers assigned to Spain’s royal palace and its prime minister’s office.

Source

Latin America : Business climate is king again

image

By Brian Winter
SAO PAULO | Thu Jan 12, 2012 9:20am EST

(Reuters) – Here’s an economic riddle of sorts: Which economy grew faster over the last seven years? A) President Hugo Chavez‘s Venezuela, famous for its forced nationalizations and “21st century socialism,” or B) Chile, long renowned as a capitalist paradise for investors.

It might surprise some outsiders to learn that the answer is actually A. In recent years, commodities prices have dictated growth in Latin America more than any other factor, meaning that countries could trample on businesses but still grow briskly as long as they exported plenty of raw materials such as oil and iron ore to China and elsewhere.

Venezuela, the region’s No. 1 oil exporter, has averaged about 4.6 percent economic growth since 2005, compared to 4 percent in Chile, the world’s leader in copper. An even clearer example of commodities’ almighty reign was Argentina, which averaged 7 percent growth during the same period as record soy and other farm exports helped offset the government’s hostile stance toward energy companies and some other investors.

Now, it looks as if the trend is shifting. In Latin America, 2012 seems set to be the year in which business climate clearly reestablishes its supremacy as the main driver of growth.

The countries expected to grow the fastest in 2012 are also generally the ones that are perceived by the World Bank and others as treating investors the best. That means Chile, Peru and Colombia should lead the pack, while Venezuela and even Brazil will lag a step behind – just as they did last year.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Graphic on region’s economies: r.reuters.com/bed95s

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

What has changed? The global economy.

Demand for many commodities is expected to slacken in 2012 due to economic problems in buyer markets such as China and Europe. That means it will be up to Latin American countries to generate more of their own growth – and the ones that fare best will be those who have made their labor laws more flexible, cut red tape, and taken other steps to stimulate business.

“There’s no question we’re seeing a change,” said David Rees, Latin America economist for Capital Economics in London. “The external drivers of growth are drying up and these countries will have to look to other sources like investment in order to keep up the pace.”

A DOGFIGHT FOR FIRST PLACE AMONG INVESTORS

One way to measure the trend is by looking at the World Bank’s annual “Doing Business” study, which ranks the business climate in 183 countries around the world based on how well they protect investors; the ease of starting a business; the simplicity of paying taxes; and other factors.

The cluster of Latin American countries that rank a clear step above their other regional peers in the survey are Chile (39), Peru (41) and Colombia (42).

All three of those economies are forecast to grow 4.5 percent or more this year, according to the International Monetary Fund‘s latest forecasts, made in October. Countries that rank lower in the Doing Business survey, such as Guatemala (97), Brazil (126) and Venezuela (177) are all forecast to grow in the 3.5 percent range or lower.

The divergent trend is even more pronounced in more recent 2012 forecasts by Wall Street firms such as Morgan Stanley.

The region’s other two big economies also appear to be headed in opposite directions.

Growth in Argentina (113) is expected by the IMF to be around 4.5 percent this year – but that’s just about half of last year’s pace. Meanwhile, Mexico’s (53) relatively open, low-tax economy should show resilience, with growth of 3.6 percent – well above its roughly 2 percent trend level since 2005.

Most of the countries at the top of the economic league table have vigorously implemented pro-business reforms in recent years, often with the explicit goal of improving their standing in the Doing Business rankings.

Peru, Chile and Colombia have been battling each other for supremacy within Latin America for years, said Luis Plata, a former Colombian trade minister. “We fought hard to be first,” he said in an interview. “It became a competition.”

“The rankings improve your standing with investors, but … the real reason to do it is to help you identify deep changes in the system, things that will help your economy grow better,” Plata said.

For this year’s “champion,” the dividends are clear. Chile saw foreign investment of $13.79 billion in 2011, a historic high that contributed to the country’s fastest economic growth in years. A top Chilean official told Reuters last month that the government expects a new record in foreign investment this year.

STALLED REFORMS IN BRAZIL

In countries closer to the bottom of the table, attitudes are notably different.

Argentine President Cristina Fernandez has shown few signs of softening an antagonistic stance toward some investors that in recent years has seen her government nationalize private pension funds and face widespread suspicions of manipulating basic economic data such as inflation.

Venezuela’s economy remained buoyant for years thanks largely to its status as South America’s biggest oil exporter, but Chavez’s frequent confrontations with business have hollowed out much of the private sector and left the economy dependent on state spending.

In Brazil, Latin America’s largest economy, the picture is slightly more complex. While successive governments have catered to private enterprise to a much greater extent than Argentina and Venezuela, Brazil has also failed to push any major pro-business reforms through Congress in a decade.

As a result, investors have become frustrated with the country’s high costs and red tape. Brazil dropped six spots in the latest Doing Business survey – more than any other big economy in Latin America – and ranks in the world’s bottom third in categories such as trading across borders, dealing with construction permits, and ease of paying taxes.

Partly as a result of the business climate, some economists believe that Brazil may be downshifting into a new era of 3 percent to 4 percent economic growth, which would be a letdown after the faster pace of previous years.

“Brazil hasn’t kept pace with some other (Latin American) countries on some of the really important long-term questions, and they may pay the price for that,” said Gray Newman, chief Latin America economist for Morgan Stanley.

“People focus on things like inflation, and that’s good, but what about – How long does it take to open a business? How easy is it to hire and fire?” Newman said. “The economies that are moving forward are the ones that have looked at those metrics, and have put them at the heart of government policy.”

(Editing by Todd Benson and Kieran Murray)

Source

Petrobras Sells First Cargo of Deepwater Lula Oil to Chile

Apr 19, 2011 10:17 AM CT

By Peter Millard

Santos Basin

Petroleo Brasileiro SA (PETR4), Brazil’s state-controlled oil producer, will export its first cargo from the country’s second-largest crude field to Chile in mid-May.

Petrobras agreed to sell 1 million barrels of oil from the offshore Lula field in the so-called pre-salt area to Chile’s Empresa Nacional de Petroleo, or Enap, the Rio de Janeiro-based producer said today in an e-mailed statement.

Petrobras aims to double production by 2020 as it develops Lula and other deepwater oil discoveries lying two miles below the ocean surface and another two to four miles beneath the seabed. The field, with recoverable reserves of 6.5 billion barrels, trails the Brazilian government’s nearby Libra field that may hold as much as 15 billion barrels.

“The company has a lot of potential to become a major world exporter,” said Max Bueno, an analyst at Spinelli in Sao Paulo. Demand growth in Brazil’s domestic market is unlikely to outpace production increases, he said.

Original Article

%d bloggers like this: