Investments

Investments
Wednesday, November 12th 2014 - 06:42 UTC

Petrobras Argentina plans to invest 622m dollars to explore for shale gas

Petrobras Argentina expects to drill 44 wells at depths of up to 4,000 meters in Neuquen's Punta Rosada formation, Cabinet chief Jorge Capitanich

The Argentine unit of Brazilian state-controlled oil giant Petrobras plans to invest 622 million dollars to explore for non-conventional natural gas in Neuquen, the Argentine government announced on Monday.

Tuesday, November 11th 2014 - 07:25 UTC

Griesa authorizes Citibank to pay restructured bonds under Argentine law

Griesa's order gives Citigroup further breathing room in the ongoing dispute between the hedge funds and Argentina

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.

Monday, November 10th 2014 - 08:54 UTC

Cable & Wireless acquires major Caribbean telecoms company

C&W now doubles in size and increases its Caribbean and Central American footprint with the addition of Columbus’ 700,000 residential customers in the region.

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.

Sunday, November 9th 2014 - 10:35 UTC

Argentine bondholders file for 'me too' at Judge Griesa's court: claims reach 6.5bn

Carmine Boccuzzi told Griesa that holders of Argentina’s defaulted debt will seek to have his 2012 order applied in their cases

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.

Sunday, November 9th 2014 - 10:01 UTC

Mexico's cancels contract to build a high-speed passenger train link

Mexico's communications and transport ministry said the new auction would start from mid-November and be open for about six months.

Mexico has abruptly cancelled a 3.75bn dollars contract awarded on Monday for a Chinese-led consortium to build a high-speed passenger rail link. President Enrique Peña Nieto said he wanted to avoid “any doubts about the legitimacy and transparency” of the bidding process.

Friday, November 7th 2014 - 23:08 UTC

English court involved in Argentine bonds dispute with hedge funds

The lawsuit involves 226m Euros interest payments on Euro-denominated Argentine bonds issued under English law. One of the litigants is George Soros

A London court gave Argentine “holdout creditors” in New York a two-week window on Thursday to challenge declarations sought by a powerful group of investors in a dispute over interest payments worth about 226 million Euros. The payments involve Euro-denominated Argentine bonds which were issued under English law.

Wednesday, November 5th 2014 - 07:20 UTC

Cuba is asking for 8 billion dollars in investment from private corporations

“Cuba is pushing strongly to take advantage of the benefits associated with foreign investment to stimulate development,” Malmierca said.

Cuba asked international companies on Monday to invest more than 8 billion dollars in the island as it attempts to kick-start a centrally planned economy starved for cash and hamstrung by inefficiency.

Wednesday, November 5th 2014 - 07:05 UTC

China rolling stock manufacturer to begin maintenance operations in Argentina

Minister Randazzo (R) with CSR-Sifang representative exchange documents

China’s rolling stock manufacturer China South Railway, CSR-Sifang will establish a presence in Argentina in a workshop currently ran by State-owned Trenes Argentinos Operadora Ferroviaria, Interior and Transport minister Florencio Randazzo announced on Tuesday.

Tuesday, November 4th 2014 - 05:05 UTC

Falklands have a per capita GDP “ten times higher than Argentina”

According to the Yearbook in the last five years the Islands' GDP has expanded 11% per year until 2012 and an even higher percentage can be expected for 2013

Argentina's financial daily, El Cronista Comercial has published two articles on the Falkland Islands based on data from the 2014 Statistical Yearbook stating that the Islands enjoy a GDP per capita several times higher than Argentina and that the economy has been expanding at 11% annually since 2008.

Friday, October 31st 2014 - 21:21 UTC

Argentina's holdout dispute spills into the White House: CFK sends letter to Obama questioning Ambassador Soderberg

In the letter CFK asks if Nancy Soderberg, “the person you have appointed as Chair of PIDB”, is also the Co-Chair of the American Task Force Argentina

In a harsh letter, released on Friday, Argentine President Cristina Fernandez urged US President Barack Obama to explain whether ”Nancy Soderberg, the person you have appointed as Chair of the Public Interest Declassification Board (PIDB), which reports directly to the Government of the United States of America, is also the Co-Chair of the American Task Force Argentina (ATFA), an entity specifically created to attack and slander the Argentine Republic and its President.”

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