The European Central Bank cut interest rates to new record lows on Thursday, unexpectedly lowering borrowing costs to try to lift inflation from rock-bottom levels (deflation) and support the stagnating euro zone economy. The ECB cut its main refinancing rate to 0.05% from 0.15%.
With Brazil battling recession and inflation a month away from the presidential election, the Central bank kept its key interest rate on hold at 11%. Traders and analysts had forecast no change and the central bank's monetary policy commission (Copom) duly decided to leave all quiet following its monthly two-day meeting.
Argentina will be launching on Thursday, 4 September the book Argentine sovereignty in Malvinas; 50 years since Ambassador Ruda's statement which recalls the half century since the presentation by then Ambassador Jose Maria Ruda before the United Nations Special Decolonization Committee, or C24.
The No vote's lead ahead of the Scottish Referendum has narrowed to just six points, according to a new poll. The YouGov poll suggests support for Scottish independence has risen eight points over the past month.
An estimated one trillion dollars a year is being taken out of poor countries and millions of lives are lost because of corruption, according to campaigners. A report by the anti-poverty organization One says much of the progress made over the past two decades in tackling extreme poverty has been put at risk by corruption and crime.
The current legal dispute between Argentina and holdouts (“vulture funds”) suing the country over its defaulted bonds “will not affect” planned Chinese investments, since Argentina and China have a 'strategic association', the head of the National Commission of Development and Reform (CNDR) of China Xu Shaoshi, warned on Wednesday.
Argentina's central bank said on Wednesday it had reduced the amount of dollars commercial banks could hold, a move that should push more greenbacks into the spot market and may give a mild boost to flagging reserves and the local Peso.
A former chairman of Argentina's central bank board, Aldo Pignanelli considered neighboring Uruguay could be a “trustworthy” option for Argentina to issue sovereign bonds and pay creditors. Uruguay has an outstanding international reputations regarding abiding by contracts and ensuring legal security, added the Argentine banker.
Argentina's National Electoral Register has confirmed that the first round of presidential elections will take place on October 25 2015, with a run-off penciled in for November 24 if no candidate takes enough votes to win outright.
Credit strapped Argentina is wooing Beijing and with this purpose Economy Minister Axel Kicillof, Planning Minister Julio De Vido and YPF oil company CEO Miguel Galuccio are currently on an official trip to China, aimed at gathering funding for public works including two dams and one nuclear power plant.