The United States Federal Reserve pushed back plans to raise interest rates on Wednesday, a widely expected move following a series of mixed economic reports and varied signals from Fed officials. After its two-day policy meeting, the Federal Open Market Committee voted to hold the federal funds rate between 0.25% and 0.50%, citing progress in economic and labor market growth and an improving risk outlook.
U.S. industrial conglomerate General Electric will invest US$10 billion in Argentina over the next decade, vice chairman John Rice said on Monday, the latest foreign company to announce new plans since President Mauricio Macri took office.
Works on the extension of the Prat dock in the port of Punta Arenas picked up this last week and should be ready for the beginning of next year, including two dolphins and six jackets, which should enable all cruise passengers to land directly.
The recent Argentina/UK joint cooperation statement, with a chapter on the Falklands/Malvinas Islands, is “promising”, however much rests to be defined and agreed, and additional air links should be carried out by Argentina's flag carrier, according to Rosana Bertone, governor of the extreme south province of Tierra del Fuego, Antarctica and South Atlantic Islands.
The US Department of Justice is asking Deutsche Bank to pay US$14bn to settle an investigation into mortgage-backed securities, the bank has said. However Deutsche Bank said it has no intention to settle these potential civil claims anywhere near the figure cited.
Falkland Islands oil explorer Rockhopper Exploration Plc has confirmed cost cuts at its Sea Lion project, which will reduce the scheme´s break-even price to US$ 45 a barrel. Capital investment at Sea Lion to reach first oil is now estimated at US$ 1.5bn.
Seed and chemical giants Bayer and Monsanto said on Wednesday that they will merge to become one of the world’s biggest agriculture giants, a 66 billion-dollar mega-deal that could reshape the future of farming and enhance their influence over the planet’s food supply.
The United States Export-Import Bank said it would begin offering financing in Argentina for the first time since the country's economic meltdown in 2001 and 2002. In previous decades the bank provided low-rate loans to support local investment, including the construction of one of the main highways leading into this city.
German industrial conglomerate Siemens AG signed a letter of intent on Wednesday to participate in up to US$5.6 billion of energy, transportation and infrastructure projects in Argentina, Chief Executive Joe Kaeser said.
British Petroleum is looking to increase its investments in Argentina after seeing “tremendous change” in the country since President Mauricio Macri took office nine months ago, CEO Bob Dudley said on “Bloomberg Markets” this week. Argentina just “feels different,” Dudley told Bloomberg's Erik Schatzker at the inaugural Argentina Business Investment Forum in Buenos Aires.