Thursday, February 12th 2015 - 06:25 UTC

Argentine industry fearful of some clauses in agreements signed with China

“We will explain the scope of agreements to the UIA because Argentina and China have complementary economies”, said Capitanich

Argentina's top officials will meet on Thursday with representatives from the Argentine Industrial Union, UIA, to discuss some clauses and aspects of the recent agreements signed between China and Argentina last week, and which have been questioned by the manufacturers' lobby.

Thursday, February 12th 2015 - 06:02 UTC

Holdouts open new front in dispute with Argentina: officials dramatic increase in their personal wealth

The most senior figure named in the report is Guillermo Moreno who was the powerful commerce secretary first for Nestor and then Cristina until 2013

US holders of defaulted Argentine bonds have stepped up their campaign for full repayment of their loans by detailing how 14 senior Argentine officials experienced “dramatic and often unexplained increases” in their personal wealth during service in the Kirchner administrations.

Tuesday, February 10th 2015 - 05:45 UTC

S&P downgrades Venezuela long term credit rating to CCC

S&P said Venezuela's economy could shrink 7% this year, with further contraction possible in 2016. It added inflation could reach 100% or more

Ratings agency Standard and Poor's on Monday downgraded Venezuelan long-term credit ratings to CCC from CCC+, citing falling oil prices and the government's failure to address economic distortions.

Saturday, February 7th 2015 - 05:33 UTC

Gauguin's “When will you marry me” painting sold in 300 million dollars

The 1892 painting, Nafea Faa Ipoipo (When Will You Marry?), is one of over 20 works in Staechelin collection of Impressionist and Post-Impressionist art.

A new record price for an artwork, nearly 300 million dollars, may have been achieved with the sale of a Paul Gauguin canvas by a Swiss collector. The buyer is rumored to be the Qatar Museums.

Friday, February 6th 2015 - 23:02 UTC

Qatar Airways takes 10% of IAG, owner of British Airways and Iberia

Willie Walsh, IAG's chief executive, said he was delighted Qatar had become a “long-term supportive shareholder”.

Qatar Airways has emerged as the owner of a 10% stake in International Airlines Group (IAG), the owner of British Airways (BA) and Iberia. The Gulf airline is already a member of the Oneworld Alliance.

Thursday, February 5th 2015 - 11:10 UTC

Cristina Fernandez hails 'strategic partnership' with China; blasts Argentine industry for mistrusting agreements

The president revealed that 102 Argentine companies and over 500 Chinese firms signed up for the business seminar.

President Cristina Fernandez expressed her satisfaction for the over 1,000 businessmen that attended the Argentinean-Chinese forum she presided in Beijing and praised the 'strategic partnership' with China. The president also rejected criticism voiced by the Argentine Industrial Union (UIA) against her trip to China and the bilateral deals reached.

Tuesday, February 3rd 2015 - 00:10 UTC

Falklands' oil drilling program confirmed; rig from Western Africa on its way

The Eirik Raude exploration rig is leaving from Africa and should be drilling in Falklands waters in the first week of March

Falkland Oil and Gas Ltd has confirmed that the Eirik Raude rig has commenced mobilization from West Africa to the Falkland Islands for the 2015 drilling program, which will be operated by Premier Oil and Noble Energy.

Sunday, February 1st 2015 - 21:52 UTC

First tranche of Chinese loan to build dams in Argentine Patagonia; CFK en route to Beijing

China is helping to rebuild Argentine cargo train lines with a 2 billion dollars credit. Some of the first coaches are already functioning in Buenos Aires

The construction of the Nestor Kirchner and Jorge Cepernic dams in Santa Cruz, Patagonia is finally set to begin now that China has deposited the first 287.7 million dollars tranche of funding for the massive 4.71 billion project, Argentine President Cristina Fernández announced before leaving for a state visit to China.

Saturday, January 31st 2015 - 10:44 UTC

Moody's downgrades Petrobras credit rating because of corruption scandal

The rating “reflected concerns about corruption investigations and liquidity pressures that might result from delays in delivering audited financial statements.”

Moody's Investors Service has downgraded the credit rating of Brazil's state-owned oil company Petrobras because of the widening kickback-corruption scandal affecting the country's largest corporation.The credit rating agency announced its decision late Thursday in a statement posted on its website.

Saturday, January 31st 2015 - 09:30 UTC

Despite fourth quarter blip US economy fundamentals remain robust with strong tailwind

Even with the moderation in the fourth quarter, growth remained above the 2.5% pace, which is considered to be the US economy's potential.

US economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006. GDP expanded at a 2.6% annual pace after the third quarter's spectacular 5%, the Commerce Department said in its first fourth-quarter GDP snapshot.


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