Economy

Tuesday, September 16th 2014 - 05:20 UTC
Santander new chairwoman confirms full control of the Brazil branch

Spanish banking giant Santander under its new executive chairperson Ana Botin announced on Monday the purchase of the remaining 25% of Banco Santander Brasil which it did not already own.
Tuesday, September 16th 2014 - 02:42 UTC
US insists with Argentina it does not support the UN sovereign debt debate

As Argentine President Cristina Fernandez readies for her annual trip to New York to speak at the United Nations General Assembly, US interim ambassador in Buenos Aires Kevin Sullivan ratified that Washington will not back the UN sovereign debt resolution sparked by Argentina’s legal battle with its holdout creditors.
Monday, September 15th 2014 - 05:11 UTC
Gas prices must increase to sustain strong investment levels, says YPF Galuccio

Argentina's YPF oil and gas state corporation CEO Miguel Galuccio pointed out that the increase in gas prices is needed in order to sustain “strong investment levels” for the company and revealed that the cost of drilling a well in the country's massive oil field in Vaca Muerta has fallen below 7 million dollars.
Monday, September 15th 2014 - 04:07 UTC
Spanish Judge Garzon praises Argentina's sovereign payment bill and UN resolution

Former Spanish Judge and Human Rights activist Baltasar Garzon praised the Sovereign Payment law approved by Argentina’s Congress last week and described the United Nation’s resolution for the creation of a multilateral legal framework for sovereign debt restructuring process as “essential.”
Saturday, September 13th 2014 - 07:11 UTC
World cereal production forecasted to be a record in 2014, according to FAO

FAO's Food Price Index is a trade-weighted index that measures prices of five major food commodities on international markets: in addition to sub-indices for prices of cereals, it also tracks meat, dairy products, vegetable oils, and sugar.
Saturday, September 13th 2014 - 06:57 UTC
Argentina with two August inflation measures: the official Indec, 1,3% and the congressional rate, 2.65%

Argentina has two consumer prices indexes, and they differ considerably. In effect during August the so called congressional index doubled the official rate: the National Urban Consumer Price (IPCNU) released by the stats office Indec, in the eighth month of the year was 1,3%, which means inflation in the first eight months stands at 18,2%.
Saturday, September 13th 2014 - 06:44 UTC
Argentina guarantees car makers sufficient dollars to meet production target

Car makers in Argentina have sufficient dollars to meet production and sales targets, the government said Friday, a day after General Motors Co announced it had suspended exports from Brazil to its Argentine unit due to a hard currency shortage.
Friday, September 12th 2014 - 06:55 UTC
With the new bill “Argentina wants to pay, can pay and will pay all contracted debts”

Argentine President Cristina Fernández signed into law the Sovereign Debt bill, which changes the payment location of Argentine bondholders and which was approved by Congress early Thursday morning after 18 hours of debate.
Friday, September 12th 2014 - 06:28 UTC
Argentina's situation “will not develop into a regional financial crisis”, says UNCTAD

United Nations Conference on Trade and Development (UNCTAD) said that while Argentina was facing potential financial instability, its solvency and the sound macroeconomic fundamentals in other countries of the region “should prevent the shock from developing into a regional financial crisis.”
Friday, September 12th 2014 - 06:12 UTC
Argentine organized labor leader forecasts a “social explosion” next December

Argentina is heading towards social outbreak due to soaring inflation, head of the anti-government CGT Azul y Blanca labor confederation Luis Barrionuevo said in statements that have already sparked controversy.