Singapore based Olam International's wholly-owned subsidiary New Zealand Farming Systems Uruguay will be investing 80 million dollars to establish a new dairy processing facility in Uruguay.
The incoming head of the European Commission, Jean-Claude Juncker, unveiled an EU executive team on Wednesday that handed key economic responsibilities to French and British commissioners but overseen by others in a new-look hierarchy.
Ana Botin has been appointed the new chairwoman of the Spanish banking giant Santander, following the death of her father, Emilio Botin, who died of a heart attack on Tuesday night.
US district judge Thomas Griesa has said he would wait for a decision on a pending appeal before ordering Citigroup to comply with a subpoena served by holdout investors seeking details of any threats from Argentina to process payments the court had blocked.
Despite all the negative news on government restrictions imposed on the Argentine economy and the shortage of hard currency, the country's Merval Index has skyrocketed almost 100% this year, the highest of any stock market in the world. It includes many of the largest companies in the country such as Telecom Argentina and Energy Petrobras, along with banks and a steel maker.
Cuba has implemented new rules that will restrict the personal importation of foreign goods into the country except where locally made items are expensive and scarce.
The Argentine Central Bank foreign reserves would be bolstered this year with up to 800 million dollars in Yuans transferred by China due to the first tranche of the money of the swap agreement signed between both countries, according to banking sources in Buenos Aires.
Argentine President Cristina Fernández praised on Tuesday the United Nations General Assembly approval of a project that proposes legal framework to regulate restructuring of foreign sovereign debt, saying “Argentina has set an international leading case” with the initiative.
The United Nations General Assembly voted overwhelmingly on Tuesday in favor of a legal framework that would help regulate restructuring of foreign sovereign debt, a project that was suggested by the Argentine government and presented before the assembly by the Group of 77 plus China.
The World Bank Group’s (WBG) Executive Directors discussed a new Country Partnership Strategy (CPS) for Argentina covering fiscal years 2015-2018 with financial commitments over the period expected to be in the range of 1 to 1.2 billion dollars per year plus 1.7bn for the private sector.