New York District judge Thomas Griesa has authorized Citibank to complete the transfer of 85 million dollars to holders of restructured Argentine bonds under Argentine law, meeting debt services that expire on December 31.
UK Minister for Latin America, Hugo Swire, spoke of the growing presence of UK in Latin America and more specifically on the expanding links with Paraguay. Minister Swire said UK was determined to deepen its commercial ties with a rising Latin America and described Paraguay as a perfect trade and investment partner for UK, particularly since British oil industry has struck oil in the Chaco region.
Regulators have approved a long-awaited plan to connect the Hong Kong and Shanghai stock exchanges. The Shanghai-Hong Kong Stock Connect will allow investors to trade across the border for the first time and is set to begin on 17 November.
FAO's monthly food price index was stable in October, as sugar and vegetable oil prices rose to offset declines in dairy and meat prices. The Food Price Index dipped to 192.3, technically, its seventh consecutive monthly decline, but a marginal 0.2% drop from the revised September figure.
Columbus International Inc., the fiber-based telecoms company which operates in the Caribbean as Flow, has been acquired by LIME parent company, Cable & Wireless Communications Plc. (CWC), in a 3bn dollars buyout deal announced last Friday.
Canada’s Scotiabank has announced plans to shut or shrink 120 branches, largely in Mexico and the Caribbean, in a bid to save CAN$120 million (One Canadian dollar =US$0.87 cents) annually. The bank said it would close down 35 of its 200 branches in the Caribbean and would sever 1, 500 full-time employees, including 500 from its international operations.
Uruguay is ranked in position 30 at global level among 'high prosperity' countries, according to the 2014 Legatum Prosperity Index, and remains at top position regarding Latin America. It's the same ranking as in 2013 and confirms Uruguay in the leading position for the region for several years running.
Registrations for new vehicles in Argentina fell 40% in October compared to the same month in 2013, according to the latest study by commercial sellers' group ACARA. The chamber revealed that 52,983 cars were registered over the past month, against 59,099 in September and 88,948 last October.
Argentina told New York district judge Thomas Griesa that bondholders filed 25 lawsuits since June, when the judge ordered blocking the country's from paying its restructured debt without also paying a group of holdouts, Bloomberg news has reported.
Bank of England interest rates have been left on hold at 0.5% for another month amid fears that the pace of recovery in the UK economy is slowing. The BoE base rate has been at its current level for more than five years, with economists not expecting an increase until next summer.