Stories for July 17th 2014

Thursday, July 17th 2014 - 07:27 UTC
BRICS development bank HQ in Shanghai and India will hold the presidency

The first president of the BRICS group New Development Bank will be from India and the position will rotate every five years among Brazil, Russia, India, China and South Africa, said a joint statement from the leaders said.
Thursday, July 17th 2014 - 07:20 UTC
CFK says BRICS support Argentina in the holdouts dispute, but where’s the document?

President Cristina Fernandez assured that Argentina received the support from the group of BRICS countries (Brazil, Russia, India, China and South Africa) in its struggle against the holdout speculative funds, during the two summits held in Brazil, in Fortaleza and Brasilia.
Thursday, July 17th 2014 - 07:14 UTC
CFK admits having to pay 300% profit on holdouts’ dollars, but never 1.680% as pretended

Argentine President Cristina Fernández rejected on Wednesday the possibility of a new default during the UNASUR-BRICS meeting in Brasilia, highlighting Argentina is going to “keep on paying and honoring its debt,” while asking for support against the “so called vulture funds,” who are “pretending to collapse the Argentine debt restructuring.”
Thursday, July 17th 2014 - 06:49 UTC
Judge warns Argentine VP of impeachment if he does not turn up for questioning

Argentine Vice-president and acting president while Cristina Fernandez is off to Brazil, and who was summoned this week for a hearing in a criminal probe for alleged irregularities in the purchase of a vehicle, was granted another seven days, but if he does not turn up Federal Judge Claudio Bonadio will ask Congress for his impeachment.
Thursday, July 17th 2014 - 06:36 UTC
Argentine Congressional index inflation: 2.2% in June and 39.9% in six months

Inflation in Argentina during the month of June reached 2.2% accumulating 39.9% in the first half of the year, according to the average of private consultants, which is also identified as the Congressional index. The announcement comes a few hours after the official rate from the Indec stats office was released, 1.3% and 15%.
Thursday, July 17th 2014 - 06:30 UTC
Uruguay fisheries exports reach 33.921 tons in first half of the year

Uruguay fisheries exports during the first half of the year reached 33.921 tons, which represent a 13.2% increase over the same period a year ago, while in money terms sales totaled 76.6 million dollars, up 17.7%, according to the latest release from Aquatic Resources National Office, DINARA, published in the official government portal.
Thursday, July 17th 2014 - 06:24 UTC
Brazil looking ahead to another year of record grains crop: 192.5 million tons

Brazil which has become one of the world’s food powerhouses is forecasting a record harvest of 192.5 million tons of grains, up 2.3% over the previous period, according to the latest report from the Brazilian Stats and Geography Institute, IBGE.
Thursday, July 17th 2014 - 06:15 UTC
Judge Griesa to hear arguments from banks caught in Argentina/holdouts case

US District Judge Thomas Griesa in New York said on Wednesday that he would hear arguments on July 22 related to the banks and payment agents caught up in the Argentine sovereign debt litigation with holdout speculative funds.
Thursday, July 17th 2014 - 05:49 UTC
Holdout funds claim in ads campaign that Argentina is choosing default scenario

The American Task Force Argentina (ATFA), the group the government of President Cristina Fernandez has officially accused of being funded by same holdout creditors suing Argentina over its defaulted bonds, has resumed its advertisement campaign against Buenos Aires now saying the Kirchner administration is actually “choosing” a default scenario.
Thursday, July 17th 2014 - 05:39 UTC
“K” economist claims holdout hedge funds are after Argentina’s shale resources

The holdout speculative funds or “vulture funds” are going after Argentina’s resource-rich Vaca Muerta region and are seeking to threaten the government with a “technical default” scenario, economist Agustín D’Atellis.