Argentina

Argentina
Monday, November 3rd 2014 - 10:37 UTC

Argentina strips Procter & Gamble of its registration for alleged fiscal fraud

“We must put an end to multinationals appealing to tax maneuvers” that hurt national governments, said tax office chief Ricardo Echegaray.

Argentina's tax office has stripped US multinational company Procter & Gamble of its registration for alleged fraud, the office announced on Sunday. The federal tax collection office, known as AFIP, has alleged that P&G evaded paying duties on imports from Brazil, billing through a Swiss subsidiary, in what it called potentially “aggravated contraband.”

Monday, November 3rd 2014 - 09:11 UTC

Argentina and Brazil elected to the UN Economic and Social Council

ESOCOC has 54 members which are elected respecting a regional balance

Argentina and Brazil were elected by the United Nations General Assembly as members of the UN Economic and Social Council, ESOCOC for a period of three years beginning next January first. Argentina received 182 out of 186 votes.

Monday, November 3rd 2014 - 08:54 UTC

Argentine president back in hospital: this time for “an infectious fever”

Cristina Fernandez has a long record of health problems, although she has managed to overcome all of them

Argentine President Cristina Fernandez stressed health forced her on Sunday afternoon to check into Buenos Aires' Otamendi hospital for treatment of “an infectious fever,” according to a statement issued by the government.

Saturday, November 1st 2014 - 04:28 UTC

Fitch ratings lowers Argentina Par bonds under foreign law to “D”

“Economic conditions have deteriorated significantly in 2014, with GDP expected to post a -1.9% contraction this year”, Mosquera, Fitch's Latam Director

Fitch ratings on the last day of October downgraded Argentina's Par bonds issued under Foreign Law to 'D' from 'C', after the country failed to complete an interest payment, raising the risk that creditors could demand that its cash-strapped government immediately repay all of its debt.

Saturday, November 1st 2014 - 04:08 UTC

BBC refuses to make apology about Top Gear row in Argentina

The controversial Porsche with the registration H982 FKL, which some suggested could refer to the UK/Argentina Falklands 1982 conflict

The BBC has refused to apologize to Argentina over a Top Gear special filmed in the country. The show's stars and crew had to abandon filming last month amid angry protests over a car number-plate that appeared to refer to the Falkland Islands War.

Friday, October 31st 2014 - 21:21 UTC

Argentina's holdout dispute spills into the White House: CFK sends letter to Obama questioning Ambassador Soderberg

In the letter CFK asks if Nancy Soderberg, “the person you have appointed as Chair of PIDB”, is also the Co-Chair of the American Task Force Argentina

In a harsh letter, released on Friday, Argentine President Cristina Fernandez urged US President Barack Obama to explain whether ”Nancy Soderberg, the person you have appointed as Chair of the Public Interest Declassification Board (PIDB), which reports directly to the Government of the United States of America, is also the Co-Chair of the American Task Force Argentina (ATFA), an entity specifically created to attack and slander the Argentine Republic and its President.”

Friday, October 31st 2014 - 08:08 UTC

Chinese relief for Argentina: central banks activate currency-swap

The Central Bank of Argentina said the Yuan “is on a path to becoming one of the major global reserve currencies.”

The central banks of Argentina and China on Thursday activated a bilateral currency-swap agreement, which meant that the Argentine central bank received an initial tranche of Yuan equivalent to 814 million dollars.

Friday, October 31st 2014 - 07:51 UTC

Argentina approves new hydrocarbons bill to attract foreign investments

Argentine urgently needs an inflow of funds to develop its massive Vaca Muerta shale oil and gas deposits and lower its hefty energy-import bill.

Argentina's lower house of Congress, which is controlled by President Cristina Fernandez's allies, gave final approval Thursday for a new Hydrocarbons Law that was harshly criticized by opposition lawmakers. The lower house passed the bill with a vote of 130-116 with one abstention after more than 14 hours of debate.

Friday, October 31st 2014 - 07:13 UTC

Google victory in Argentina: search engines are not responsible for content they index

Model Rodriguez filed the lawsuit demanding compensation from Google, saying she had suffered as a result of the websites that the search engine linked to.

In what is considered a leading case for Argentina, the country's Supreme Court said search engines are not responsible for any content they index, handing a victory to Google in what had become one of the most technologically complicated issues to reach Argentina’s highest court in recent memory.

Thursday, October 30th 2014 - 21:36 UTC

Argentina tells bondholders to take legal action against Judge Griesa who is 'withholding funds'

“Instead of demanding the acceleration, bondholders should take legal actions against Griesa who is improperly withholding funds” said Capitanich

Argentine Cabinet chief Jorge Capitanich called bondholders to “take legal action against (US Judge Thomas) Griesa instead of demanding the acceleration of (Argentine) bonds,” following rumors that Owl Creek Asset Management LP is discussing the formation of a group to demand immediate repayment on bonds.

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