Stories for November 4th 2012

Sunday, November 4th 2012 - 06:40 UTC

Argentina private sector increasingly isolated from foreign money markets

All financial institutions operating in Argentina could face indirect effects of a sovereign downgrade”, says S&P

Earlier in the week Standard & Poor’s ratings services lowered to ‘B-’ from ‘B’ its unsolicited long-term sovereign credit rating on Argentina and on Friday the ratings agency said it is taking a similar rating actions on four Argentine banks and 16 Argentine corporations.

Sunday, November 4th 2012 - 06:37 UTC

Argentine farmers claim floods are delaying sowing and threaten expected 2012/13 boom crop

Soy and corn planting is behind schedule and so is wheat harvesting

Fourteen million hectares are affected by floods in Argentina’s prime farm land provinces and the presence of water jeopardizes the harvest of grains, according to farming sector leaders.

Sunday, November 4th 2012 - 06:33 UTC

Will China’s next president, Xi Jinping, bring about change?

Xi Jinping, very rich relatives and fearful of the Gorbachev syndrome

By Gwynne Dyer - By the end of November 6, we will know who will be the president of the United States for the next four years. We already know who will be the leader of China for the next 10 years, although Xi Jinping will not be officially installed in power until a few days later. But some would argue that that is the more important event.

Sunday, November 4th 2012 - 06:31 UTC

Peru slashes anchovy quota by 68%; fish meal prices forecasted to soar

Production Minister Trevino: prospects are so bleak, “technically we should have said the quota is zero”

Peru slashed its commercial fishing quota as warmer water temperatures and controversial practices deplete stocks of anchovy in one of the world’s richest fisheries. The government cut its quota for this summer’s anchovy season by 68% to 810.000 tons, the smallest allowance in 25 years.

Sunday, November 4th 2012 - 06:24 UTC

Argentina to blast ‘vulture funds’ at the G20 ministerial meeting in Mexico

Minister Lorenzino: “not one dollar to the holdouts”

Argentine Economy Minister Hernán Lorenzino and Central Bank Governor Mercedes Marcó del Pont are leading the country’s delegation in the technical G20 meeting in Mexico, where they are expected to insist on the government’s criticisms against ‘vulture funds’ and credit rating agencies.

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