Investments

Investments
Wednesday, February 10th 2016 - 07:16 UTC

US Treasury's strong support message for Argentina's litigation with holdout funds

The statement said Lew “echoed Pollack’s strong hope that all creditors will be able to resolve their differences and reach Agreements in Principle with Argentina.”

The United States gave another sign of support for Argentina’s economic policies as US Treasury Secretary Jacob Lew spoke on the phone with Finance Minister Alfonso Prat-Gay, striking an optimistic tone regarding the settlement offer made to the holdout funds in New York.

Saturday, February 6th 2016 - 07:57 UTC

Pollack statement: “pleased to report that enormous progress has been made”

I have personally spoken today by telephone to President Mauricio Macri and, earlier in the day, to Minister of the Economy Alfonso Prat-Gay.

Daniel A. Pollack, Special Master presiding over settlement negotiations between the Republic of Argentina and its “holdout” Bondholders issued the following statement today (Friday, Jan 5):

Saturday, February 6th 2016 - 07:37 UTC

US unemployment drops to 4.9% in January, but hiring is slowing down

The total number of people in work – excluding the agriculture sector – increased by 151,000. Economists had predicted 190,000.

The latest report from the United States Labor Department for January showed job gains slowed more than expected as the boost to hiring from unseasonably mild weather faded last month. However unemployment dropped to 4.9% of the workforce, the lowest in almost eight years.

Saturday, February 6th 2016 - 07:00 UTC

Argentina close to a full agreement with holdouts: US$ 6.5bn offer to end the litigation

“The agreement was awesome,” Caputo said in New York. “We have had a good reception of the proposals and I feel optimistic.”

Argentina offered a $6.5 billion cash payment to creditors suing the country over defaulted bonds on Friday, seeking to end an exhausting 14-year legal battle, “the sovereign debt trial of the century”, that transformed the country into a financial markets pariah. Two out of six leading bondholders have already accepted the offer, the U.S. court-appointed mediator said, hailing the proposal by Argentina's new, business-friendly government as an “historic breakthrough”.

Friday, February 5th 2016 - 08:04 UTC

Falklands: Contractual dispute with rig company raises speculation over drilling program

Luxton confirmed that FIG “will not permit anything less than full and proper abandonment of exploration wells drilled by any operator in Falklands”

The Falkland Islands government would not permit anything less than full and proper abandonment of exploration wells drilled by any operator in the Falkland Islands, stated Director of Mineral Resources Stephen Luxton this week, following news of a contractual dispute between Premier Oil and Ocean Rig over the drilling rig Eirik Raude.

Friday, February 5th 2016 - 07:54 UTC

Swiss Syngenta accepts takeover proposal by China Chemical: US$ 43bn cash

The deal could transform ChemChina into the world's largest supplier of crop-protection products.

Government-owned agrochemical firm China National Chemical announced this week an all-cash proposal to buy Swiss rival Syngenta for $43 billion in a deal expected to improve China's food production.

Thursday, February 4th 2016 - 08:17 UTC

Magallanes region in south Chile could hold a treasure of unconventional tight gas

USGS provided a mean estimate of 8.27 trillion cubic feet of gas and 83 million barrels of natural gas liquids.

The U.S. Geological Survey estimates that the Glauconitica zone of Chile's southernmost Magallanes region holds nearly 8.3 trillion cubic feet of technically recoverable, unconventional tight gas, or nearly double Chile's production of that fossil fuel over the past 70 years.

Wednesday, February 3rd 2016 - 05:52 UTC

Norway's Statoil confirms interest in Uruguay's offshore potential, acquires 15% of exploration block

“With this transaction, we are positioning ourselves in yet another underexplored basin with upside potential” says Nicholas Alan Maden, from Statoil exploration

Norway's Statoil giant announced on Tuesday an agreement with French Total to acquire a 15% working interest in an offshore exploration block in Uruguay's continental shelf. The announcement comes only weeks before Total is preparing to drill its first exploratory well in Uruguayan waters.

Friday, January 29th 2016 - 04:11 UTC

Canadian company interested in Uruguay's main (broke) fish industry complex

Cooke Aquaculture apparently is only interested in fish catches, and is “not planning to reopen the processing plant or even use the local fishing fleet”.

A Canadian corporation, Cooke Aquaculture is apparently interested in taking over Uruguay's main fish industry company, FRIPUR, which is under administration and liquidation and ended all operations almost six months ago.

Friday, January 22nd 2016 - 04:45 UTC

Macri/Cameron coincide on new relationship; Falklands left for further on

President Macri and PM Cameron next to their delegations, talked for over half hour this Thursday midday in Davos

Argentine President Mauricio Macri met on Thursday with British Prime Minister David Cameron in Davos as both leaders attend the World Economic Forum in Switzerland. The atmosphere of the meeting was described as 'very positive' and several steps of a new relationship were announced, while the Falklands/Malvinas issue was left for further on.

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