Economy

Economy
Thursday, July 17th 2014 - 07:20 UTC

CFK says BRICS support Argentina in the holdouts dispute, but where’s the document?

Dilma Rousseff will be taking a proposal on sovereign debt restructuring to the G20 summit in Australia, according to the Argentine president

President Cristina Fernandez assured that Argentina received the support from the group of BRICS countries (Brazil, Russia, India, China and South Africa) in its struggle against the holdout speculative funds, during the two summits held in Brazil, in Fortaleza and Brasilia.

Thursday, July 17th 2014 - 07:14 UTC

CFK admits having to pay 300% profit on holdouts’ dollars, but never 1.680% as pretended

In an impassionate 26 minute speech the Argentine leader called for support in the battle with holdouts

Argentine President Cristina Fernández rejected on Wednesday the possibility of a new default during the UNASUR-BRICS meeting in Brasilia, highlighting Argentina is going to “keep on paying and honoring its debt,” while asking for support against the “so called vulture funds,” who are “pretending to collapse the Argentine debt restructuring.”

Thursday, July 17th 2014 - 06:36 UTC

Argentine Congressional index inflation: 2.2% in June and 39.9% in six months

Housing and public utilities were the items with the largest increases in June

Inflation in Argentina during the month of June reached 2.2% accumulating 39.9% in the first half of the year, according to the average of private consultants, which is also identified as the Congressional index. The announcement comes a few hours after the official rate from the Indec stats office was released, 1.3% and 15%.

Thursday, July 17th 2014 - 06:24 UTC

Brazil looking ahead to another year of record grains crop: 192.5 million tons

 Soy, corn and rice take up 85% of the planted area and 91% of total production

Brazil which has become one of the world’s food powerhouses is forecasting a record harvest of 192.5 million tons of grains, up 2.3% over the previous period, according to the latest report from the Brazilian Stats and Geography Institute, IBGE.

Thursday, July 17th 2014 - 06:15 UTC

Judge Griesa to hear arguments from banks caught in Argentina/holdouts case

Griesa has received motions from the Bank of New York Mellon, the indentured trustee that currently holds a deposit from the Argentine government

US District Judge Thomas Griesa in New York said on Wednesday that he would hear arguments on July 22 related to the banks and payment agents caught up in the Argentine sovereign debt litigation with holdout speculative funds.

Thursday, July 17th 2014 - 05:49 UTC

Holdout funds claim in ads campaign that Argentina is choosing default scenario

The American Task Force Argentina has concentrated its fire on Economy minister Kicillof

The American Task Force Argentina (ATFA), the group the government of President Cristina Fernandez has officially accused of being funded by same holdout creditors suing Argentina over its defaulted bonds, has resumed its advertisement campaign against Buenos Aires now saying the Kirchner administration is actually “choosing” a default scenario.

Thursday, July 17th 2014 - 05:39 UTC

“K” economist claims holdout hedge funds are after Argentina’s shale resources

 Economist Agustín D’Atellis bashed ‘vulture funds’

The holdout speculative funds or “vulture funds” are going after Argentina’s resource-rich Vaca Muerta region and are seeking to threaten the government with a “technical default” scenario, economist Agustín D’Atellis.

Wednesday, July 16th 2014 - 08:05 UTC

IBSA, as important if not more than BRICS for India

 PM Modi and president Dilma Rousseff during the BRICS summit in Fortaleza

Prime Minister Narendra Modi is visiting Brazil to attend the Sixth BRICS summit in Brazil on 15-16 July. During his meeting with President Dilma Rouseff, PM Modi will review the bilateral relations with Brazil with which India is committed to a strategic partnership.

Wednesday, July 16th 2014 - 08:00 UTC

June inflation in Argentina reached 1.3% and 15% in the first half of 2014

Housing, basic services plus healthcare were the items with the highest rises

June inflation in Argentina reached 1.3%, accumulating 15% in the first six months of the year, according to a release from the country’s stats office Indec. The release also revealed the wholesale prices had increased 1.5% in June, while locally-made products saw rises of 1.5%.

Wednesday, July 16th 2014 - 07:49 UTC

”The rescue of the euro was necessary but was weak on the social side”, admits Juncker

”My firm conviction is that we must move forward as a Union but not necessarily all at the same speed”, said the president of the EC.

Germany’s candidate, Luxembourg’s Jean-Claude Juncker was elected on Tuesday President of the European Commission by a strong majority of 422 votes in the European Parliament plenary session. After being proposed as candidate for Commission President by the European Council on 27 June 2014, Juncker needed a majority of 376 votes in the European Parliament.

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