Stories for November 21st 2012

Wednesday, November 21st 2012 - 21:18 UTC

Another Argentine province confirms ‘pesification’ of dollar-denominated bonds

The Central bank ‘dollar clamp’ is proving successful, so far

Another Argentine province, Formosa announced that it would be repaying in Pesos its dollar-denominated bonds (FORM3) issued under local law, at an exchange rate of 4.81 Pesos per dollar.

Wednesday, November 21st 2012 - 20:51 UTC

Argentina with the world’s fourth highest inflation, says private bank

Inflation expectations have also risen and for November reached an annualized 30%

Argentina is the country with the world’s fourth highest inflation, behind Sudan, South Sudan and Byelorussia, according to a report from a leading Argentine bank from the City of Buenos Aires.

Wednesday, November 21st 2012 - 20:49 UTC

Brazil’s development bank sees economy picking up as loan requests increase

BNDES President Luciano Coutinho: “demand for capital goods is increasing”

Company inquiries about tapping Brazil's BNDES state development bank for loans is up 30% the past two months, a strong sign of potential growth in the near future for a sluggish economy, the bank's president revealed in the US.

Wednesday, November 21st 2012 - 20:07 UTC

Brazil increases gold holdings to 52.5 tons, according to the IMF

The 1.7-ton purchase in September was the first for Brazil since December 2008

Brazil increased gold reserves for a second month in October to the highest level in more than 11 years as emerging nations from Kazakhstan to Russia boosted holdings by more than 40 metric tons.

Wednesday, November 21st 2012 - 20:01 UTC

Ghana rejects Argentine plea to drop case of impounded frigate ARA Libertad

Commercial tribunal Judge Adjei Frimpong: “It would be bad fate for this tribunal to put this through”

Ghana rejected on Wednesday Argentina’s plea for Accra City’s Commercial Tribunal to drop the case that kept the ARA Libertad navy training frigate impounded at Tema port since October 2nd.

Wednesday, November 21st 2012 - 08:13 UTC

Sir Rex Hunt helped change British thinking towards the Falklands

The former Governor will be remembered on Friday at a special thanksgiving service (Photo: The Times)

Falklands Governor Nigel Haywood underlined the influence of Sir Rex Hunt on the attitude of the British government and British thinking towards the Falklands, helping to understand that “the lives of the Islanders really had to come first”.

Wednesday, November 21st 2012 - 08:03 UTC

Chile reopens market for Paraguayan beef after a twelve-month ban

Paraguayan meat exports in a normal year total close to 900 million dollars

Chile has re-opened its market to Paraguayan beef announced on Tuesday to his peers Sixto Miranda, head of the country’s Rural Society, following a meeting with Foreign Minister Jose Fernandez Estigarribia.

Wednesday, November 21st 2012 - 07:53 UTC

Cristina Fernandez: “no one is going to pressure me especially with bullying or thugs”

For the Argentine president “this was not a strike, it was an intimidation and a threat” (Photo Telam)

After the first national strike against her administration, Argentine President Cristina Fernández blasted the CGT and CTA-led protest claiming they appealed to “bullying” tactics and called on workers to defend the “economic development and inclusion model”.

Wednesday, November 21st 2012 - 07:48 UTC

Day of protest a “complete success” and “much stronger than we expected”

“The ball remains in the government’s court” said union leader Julio Piumato

Argentine labour unions leaders said that support for the successful national strike was “much stronger than we expected” and urged President Cristina Fernández to listen to “people’s message.”

Wednesday, November 21st 2012 - 07:41 UTC

General strike, supported by pickets paralyzed Argentina

A rare view of downtown Buenos Aires by the Obelisk virtually deserted

Two main opposition umbrella trade unions and other organizations protesting Argentina's economic policies paralyzed the country on Tuesday in the first general strike since President Cristina Fernandez took office five years ago.

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