International

International
Saturday, August 16th 2014 - 11:49 UTC

Plenty of generic Viagra in Brazilian pharmacies as patent expires

Carlos Sanchez has turned EMS Participacoes SA into a pharmaceutical company with revenue of two billion Reais

The day after Pfizer Inc’s patent for Viagra expired in Brazil, Carlos Sanchez flooded pharmacies with his generic erectile dysfunction pills. It was a day his army of lawyers, researchers and marketers had been preparing for more than three years, even winning a bid to move up the patent’s expiration date.

Saturday, August 16th 2014 - 11:32 UTC

Trust in Argentine reliability has vanished, as a result of the bonds' litigation

Cristina Fernández said the collapse of a private deal proved what she has long said: 'vulture funds' do not want to reach an agreement

Debt talks on Argentina’s defaulted bonds in the hands of holdout hedge funds ultimately collapsed this week due to disagreements over prices and the absence of a government guarantee to honor payments on the paper, sources close to the discussions said.

Saturday, August 16th 2014 - 11:21 UTC

All ready in Uruguay to receive Guantanamo prisoners, but public opinion is divided

“With the exception of the dictatorship, Uruguay has been a country of refuge and for us it's a matter of principle” president Mujica said

Uruguay will be receiving very soon six men who have spent more than a decade locked up without charge at the US base at Guantánamo Bay in Cuba. The prisoners have been offered a refuge in Uruguay, where President José Mujica agreed as a humanitarian gesture to accept men that the U.S. has decided do not pose a threat but cannot return to their homelands.

Saturday, August 16th 2014 - 11:15 UTC

Billionaire Soros becomes the fourth largest holder of YPF shares

Soros Fund added 8.47 million YPF shares, said a regulatory filing, bringing its total position to 3.5% of the company’s American depositary receipts.

George Soros’s 28 billion family office boosted its stake in YPF SA, making Argentina’s largest oil company its biggest U.S.-traded stock holding in the second quarter. Soros Fund Management LLC added 8.47 million shares of YPF, according to a regulatory filing Thursday, bringing its total position to 3.5% of the company’s American depositary receipts.

Saturday, August 16th 2014 - 09:01 UTC

Argentine Euro-bond holders have appealed Griesa's ruling blocking payment

Euro bondholders have argued that their bonds should be exempt because they are governed by the laws of England and Wales

Holders of Euro-denominated Argentine bonds have appealed judge Thomas Griesa's ruling blocking Argentina from making payments on their debt, according to a court filing.

Saturday, August 16th 2014 - 08:45 UTC

Global trade union summit condemns actions of vulture funds against Argentina

 Workers' worldwide “mass support shows international condemnation of the speculative actions of vulture funds”, said the former union leader Ms Castro

The International Transport Workers’ Federation passed on Friday a motion condemning the actions of the 'vulture funds' against Argentina and calling ”not to allow the vulture funds to paralyze the debt-restructuring processes of developing countries or prevent states from exercising their right to protect their citizens under international law”, according to a release from the Argentine embassy in London.

Saturday, August 16th 2014 - 08:28 UTC

Ebola-affected region athletes involved in body contact disciplines banned from Youth Games

The rules will prevent three athletes from the region from competing in those events, the Nanjing organizing committee statement said.

The International Olympic Committee (IOC) announced on Friday it was prohibiting young athletes from the Ebola-affected region of West Africa from participating in certain events at the Youth Olympic Games in Nanjing, China.

Friday, August 15th 2014 - 07:13 UTC

Cristina Fernandez will use anti-terrorism law against US company that closed its Argentine plant

“We are facing a real case of fraudulent behavior and an attempt to intimidate the population,” said Cristina Fernandez in a speech at Government House.

Argentina's government will use an anti-terrorism law for the first time to seek criminal charges against a U.S.-based international printing firm which closed its Argentine plant without warning, president Cristina Fernández said on Thursday. She linked the company to some of the hedge funds in litigation with Argentina over defaulted bonds.

Friday, August 15th 2014 - 06:51 UTC

Auction 21 August to settle (and possible payout) of Argentina's defaulted swaps

Argentina's securities regulator requested information from its US counterpart, regarding potential use of privileged information by Elliott to force the default

The International Swaps and Derivatives Association (ISDA) will hold an auction on August 21 to settle Argentina’s default swaps. The auction, run by Creditex and Markit, will determine the payout that holders of protection on Argentine debt (CDS) will receive as a result of the default on July 30.

Friday, August 15th 2014 - 06:34 UTC

Mujica, Latin America's most original leader according to The Economist

As president he has kept the mainly free-market economic policy, has respected media freedom and judicial independence

Under the heading of “The sage of Montevideo”, The Economist visited the Uruguayan president at his farmhouse in the outskirts of Montevideo where they had a long chat.

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