Stories for June 26th 2010
Investing in Panama: An exclusive Report from Alternative Latin Investor
Alternative Latin Investor (ALI), the first and only online news source to provide information on alternative investments in Latin America, has just released an in-depth report on the Panamanian investment environment.
Toronto G-20: Germany’s Merkel emphasizes “mutual understanding” with US
Germany's Chancellor has insisted that Europe's leaders are making good progress in talks with the US about how to bolster fragile economic growth. Angela Merkel told journalists at the G8 summit in Canada there was “mutual understanding” with President Obama over deficit reduction plans. Leaders are attending summits of the G8 and G20 groups of leading states.
Plain and clear: the Kirchner couple planning for the next ten years
Former president Nestor Kirchner said Argentina needs a “strategic project for the next ten years” and forecasted that investors will arrive knowing the country has an established proven development model.
Ecuador removed from list of countries that do not combat money-laundering
Ecuadorean President Rafael Correa said on Friday his country had been removed from an international blacklist of countries who fail to comply with standards against money-laundering and terrorism financing.
Timnerman underlines Beijing’s support in UN Falklands’ presentation
Argentina’s newly appointed Foreign Minister Héctor Timerman said that China expressed “strong support” for Argentina’s sovereignty claim over the Falklands and other South Atlantic islands, but was disappointed by the bias coverage of the Buenos Aires press.
Argentine economy expands 9.7% in April, the fastest in two years
Argentina's economy grew at its fastest pace in nearly two years in April, expanding 9.7% percent from a year earlier, the government announced on Friday. Increased consumer spending and demand for Argentina industrial products, particularly automobiles, from Mercosur partner Brazil helped to boost the economy.
“China playing games” with the announced Yuan flexibility, says Krugman
Nobel laureate Paul Krugman said China’s pledge to make the Yuan more flexible was an “exercise in bad faith” intended to fend off international pressure for a stronger currency at this week’s Group of 20 leaders’ summit.
China says there is no basis for major appreciation of the Yuan or raising rates
Top Chinese financial officials defended the country’s current economic policy and stated there was no need for a major appreciation of the currency or an increase in interest rates since inflation was declining.
China ends freeze on Argentina soy-oil imports, says Buenos Aires
Argentina has reached an agreement with China to end the freeze on Argentine soy-oil imports, the government said on Friday. However given the cumbersome negotiation process some Argentine traders are waiting for an official confirmation from Beijing.
BP considering sales of assets in Argentina
British Petroleum, BP, is actively considering the sale of its stake in Pan American Energy LLC, Argentina's fastest growing oil and gas company, according to oil industry sources quoted in the Buenos Aires press.
