Argentina

Argentina
Tuesday, January 13th 2015 - 08:31 UTC

Argentina suspends HSBC from transferring money abroad for 30 days

Argentina last November charged HSBC with aiding more than 4,000 clients to evade taxes by stashing their money in secret Swiss bank accounts.

Argentina said on Monday it was suspending HSBC Bank Argentina's right to transfer money abroad for 30 days due to “irregularities”, two months after charging it with helping clients evade taxes by siphoning their funds off to Switzerland.

Saturday, January 10th 2015 - 06:44 UTC

Argentina's comprehensive strategic (and vital) association with China

Cristina Fernandez toasting with President Xi Jinping last July when he visited Argentina as part of a Latin American tour

Argentina and China entered a new phase of their relationship in July last year after upgrading it to a “comprehensive strategic association” and signing a battery of agreements, which include a 4.7 billion investment in hydroelectric dams, 2.09 billion in the renovation of the rail system and an 11 billion currency swap.

Thursday, January 8th 2015 - 06:12 UTC

Car sales in Argentina plunged 28% last year compared to 2013

Last year’s total reached a poor 683,485 cars registered, when compared with the 956,884 units sold in 2013, a record for Argentina.

Sales of new cars in Argentina plunged 42% in December, compared to the same month of 2013, a steep drop that managed to raise eyebrows in an industry that had gotten used to declines month after month. It was steeper than the already strong 37% drop seen in November.

Thursday, January 8th 2015 - 05:50 UTC

Alleged Falklands' links sufficient motive to suspend fishing license of Tierra del Fuego company

The vessel involved in the conflict “Unidos del Sur” apparently has a fishing licence from the Falklands government awarded last year

Argentina's Tierra del Fuego provincial government decided on Wednesday to preventatively suspend Pesantar's fishing license following claims that the company is associated with another group operating in the South Atlantic but with a Falklands' government license.

Thursday, January 8th 2015 - 01:08 UTC

Authorities raid Buenos Aires HSBC accused of aiding tax evasion

The raid stems from allegations that HSBC helped 4,040 Argentines evade taxes by placing their money in secret Swiss bank accounts.

Authorities on Wednesday conducted a court-ordered search of the Argentine headquarters of London-based bank HSBC, which faces allegations of aiding tax evasion, it was reported in Buenos Aires.

Thursday, January 8th 2015 - 00:42 UTC

Argentina shocked over the death of indigenous child of malnutrition and TB

Seven year old Nestor spent the last forty days of his life in hospital, but never managed to recover (Pic Clarin)

Argentina is in state of shock following the death of a seven-year old aborigine of malnutrition which turned into a complicated case of TB. The child belonged to the Qom indigenous community in Chaco, northern Argentina that has been forced to a life of deprivation and despair because on ongoing battles over the possession of reservation lands.

Wednesday, January 7th 2015 - 06:52 UTC

Argentina and Chile agree on three tunnel projects drilling the Andes

The accord to ensure greater connectivity was signed by foreign minister Heraldo Muñoz and Argentine ambassador in Santiago, Gines Gonzalez Garcia (L).

Argentina and Chile signed on Tuesday in Santiago the creation of a bi-national entity responsible for the Las Leñas Pass tunnel project (Ebileñas) to be drilled in the Andes connecting the two countries.

Wednesday, January 7th 2015 - 04:10 UTC

Shortage of tampons in Argentina because of import restrictions

Most tampons come from Brazil but delays in authorizing imports have caused the inconvenient situation, particularly for beach goers

Ladies in distress, particularly in summer time when going swimming is a ritual in Argentina: in effect because of the imports restrictions and lack of sufficient dollars, tampons are in short supply. They had been scarce all along the year but the situation peaked now that summer holidays have taken off.

Tuesday, January 6th 2015 - 22:49 UTC

Aurelius hedge fund denies being part of lawsuit filed against Petrobras

“The lawsuit has been filed by the City of Providence (Rhode Island. Aurelius has nothing to do with it,” said the president of Aurelius Mark Brodsky

Aurelius Capital Management, one of the main plaintiffs against Argentina in New York District Judge Thomas Griesa’s courtroom, has denied being part in a lawsuit filed against Brazilian state-owned oil company Petrobras, in response to accusations by Argentina’s Economy Minister Axel Kicillof.

Tuesday, January 6th 2015 - 07:02 UTC

Argentine farmers netted 24.1 billion dollars from grains and oilseeds last year

The sale of grains and oilseed helped stop the drain of Central Bank international reserves

Argentine farmers exported more than 300 million dollars worth of grains and oilseeds in the last two days of 2014 to help bring in much needed cash for the nation’s central bank. The situation was boosted by an agreement reached between farmers and the Argentine government regarding foreign currency payment for the grains and oilseed.

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