Fitch Argentina announced this week that industry pioneer Douglas Elespe has become its CEO/Managing Director and new venture partner, and will lead the company's shift to an Argentine and Uruguayan domestic credit ratings business focus under the new name FIX-SCR. The financial terms of the transaction are not disclosed.
Argentine Lower House passed last week a bill creating a commemorative coin as a tribute to Latin America's first Pope. Lawmaker Oscar Cachi Martinez first proposed the measure in April, and it garnered approval from congressional committees during November. The next step is for the bill to the considered by the Senate.
The Argentine unit of Brazilian state-controlled oil giant Petrobras said on Monday that it discovered unconventional petroleum in Argentina’s Vaca Muerta formation. The well is part of the Rincon de Aranda concession in Neuquen province, operated by Petrobras Argentina in a 55%/45% partnership with French oil major Total.
In an attempt to stop the drain of Argentina Central Bank international reserves, the government of President Cristina Fernandez has decided to take the 20% income tax advance to 35% for all credit and debit card purchases made abroad. The move will also involve the purchase of dollars for Argentines travelling abroad with the US currency climbing now to 8.322 pesos.
Mexico's government owned oil company Pemex is getting closer to an understanding with YPF after playing a crucial role in brokering a deal between Argentina and Spain regarding the April 2012 seizure from Repsol of a majority stake in YPF. Pemex apparently is interested in having a share at the Vaca Muerta oil and gas shale deposits in Patagonian Neuquén.
Argentina's cabinet chief on Monday hit back at the United States reacting to comments from the White House on the Argentine central bank reserves saying he was worried about the US and UK debt levels, the US debt reaches over 100% of GDP.
The Argentine Peso at the official exchange rate could reach a depreciation of almost 50% by the end of the year at the current rate of erosion, which is also expected to have a downward impact on the parallel market or 'blue dollar, according to local experts.
Argentina thanked Commonwealth member Guyana for its strong support in the Malvinas Islands question and underlined the excellent bilateral relations in all fields, during the official visit of Foreign minister Carolyn Rodrigues-Birkett to Buenos Aires.
Panama Foreign minister Fernando Núñez Fábrega underlined his country's traditional and committed support for Argentina's sovereignty claims over the Malvinas and other South Atlantic Islands and their adjoining maritime spaces, an issue that was discussed during this week's visit to Buenos Aires, a special guest of his peer Hector Timerman.
The Falkland Islands government said on Friday that Argentina's latest illegal attempt to undermine the Islands economy is in direct contradiction with its alleged claim that it wants to establish a dialogue and is yet another effort to disrupt the lives of 3.000 people who want to live in peace and with good neighborly relations.