Investments

Investments
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 - 11:15 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.

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 - 06:47 UTC

New record for the US dollar in Argentina's 'blue market', 13.20 Pesos

The blue-chip swap rate went up and closed at 11.60 Pesos, while the stock exchange rate dropped to 12.54 Pesos

The US dollar in Argentine money markets continued its rising path on Thursday with a new record climb to close at 13.20 Pesos. This so-called “blue” dollar had jumped 20 cents to 13.15 pesos on Wednesday, breaking its 13.06 Pesos record from 23 January.

Friday, August 15th 2014 - 06:44 UTC

Argentine July inflation 2.47% and 39.71% in twelve months, according to Congress index

“We are under the strong impression that inflation has stabilized at an annualized 40%” said lawmaker Sturzenegger

July consumer prices index in Argentina according to the so called Congressional index, climbed 2,47% and 39.71% in the last twelve months. The same index marked 2.2% in June indicating a growing tendency.

Friday, August 15th 2014 - 02:26 UTC

All phone calls inside Chile become local; Punta Arenas code area is 61

“We're advancing in our project of bringing together all Chileans. It's a strong connectivity step which benefits families and companies” said Gomez Lobo.

Chile has become a single territory for telecommunications and long distance calls with different rates for fixed lines will no longer exist beginning Saturday. This in practical terms will also means a 50% reduction on normal phone calls.

Friday, August 15th 2014 - 02:21 UTC

Last minute decision saved Marina Silva from travelling with Campos

Marina's conservationist advocacy has earned the wrath of Brazil’s agribusiness, but she also appeals to conservative voters with her defense of family values

Environmental activist and politician Marina Silva could have been on the plane that crashed on Wednesday and killed presidential candidate Eduardo Campos and six other occupants.

Thursday, August 7th 2014 - 07:54 UTC

Egypt plans to build a new parallel Suez Canal to be completed in five years

The new channel also includes expansion of the Suez port shipping facilities, aims to raise Egypt's international profile and establish it as a major trade hub.

Egypt plans to build a new Suez Canal alongside the existing 145-year-old historic waterway in a multi-billion dollar project aimed at expanding trade along the fastest shipping route between Europe and Asia.

Thursday, August 7th 2014 - 07:34 UTC

Carnival Cruise Lines to build a 70m tourism port at La Tortue, in Haiti

“It is worth it to know that the money that you are spending while having fun is helping someone to get out of poverty”, said PM Lamothe

Haiti announced it has signed a multi-million dollar agreement with the US-based Carnival Cruise Lines to build a tourism port on the island of Latortue, north of the island. Prime Minister Laurent Lamothe said the 70 million dollars project will help improve the lives of the estimated 36,000 people residing in the area.

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