Economy

• Friday, September 12th 2014 - 04:37 UTC

  IMF warns about the negative reactions from markets if Scotland becomes independent

  

  Scotland’s possible secession from the United Kingdom as a result of the upcoming referendum could cause negative market reactions in the short-term, William Murray, Deputy Spokesman at International Monetary Fund (IMF), told reporters Thursday.

• Friday, September 12th 2014 - 03:37 UTC

  Emilio Botin, “El presidente” and the 'unofficial king of Spain'

  

  Emilio Botin, “El Presidente” to co-workers and the third generation of Botins to run Santander, was at the forefront of a drive to create global banks, offering a one-stop shop to multinational companies and a range of services to consumers.

• Friday, September 12th 2014 - 01:39 UTC

  Singapore Olam will invest 80m in dairy processing facility in Uruguay

  

  Singapore based Olam International's wholly-owned subsidiary New Zealand Farming Systems Uruguay will be investing 80 million dollars to establish a new dairy processing facility in Uruguay.

• Thursday, September 11th 2014 - 15:53 UTC

  Key economic responsibilities to France and UK in EU new executive team

  

  The incoming head of the European Commission, Jean-Claude Juncker, unveiled an EU executive team on Wednesday that handed key economic responsibilities to French and British commissioners but overseen by others in a new-look hierarchy.

• Thursday, September 11th 2014 - 15:46 UTC

  Ana Botin appointed new chairwoman of Spanish banking giant Santander

  

  Ana Botin has been appointed the new chairwoman of the Spanish banking giant Santander, following the death of her father, Emilio Botin, who died of a heart attack on Tuesday night.

• Thursday, September 11th 2014 - 04:48 UTC

  Judge Griesa will wait for appeals court ruling before acting on holdouts' Citibank subpoena

  

  US district judge Thomas Griesa has said he would wait for a decision on a pending appeal before ordering Citigroup to comply with a subpoena served by holdout investors seeking details of any threats from Argentina to process payments the court had blocked.

• Thursday, September 11th 2014 - 04:30 UTC

  Despite all the negative economic data, Argentina's stock market has almost doubled this year

  

  Despite all the negative news on government restrictions imposed on the Argentine economy and the shortage of hard currency, the country's Merval Index has skyrocketed almost 100% this year, the highest of any stock market in the world. It includes many of the largest companies in the country such as Telecom Argentina and Energy Petrobras, along with banks and a steel maker.

• Wednesday, September 10th 2014 - 07:22 UTC

  Cuba restricts personal importation of foreign goods, “to curb abuses”

  

  Cuba has implemented new rules that will restrict the personal importation of foreign goods into the country except where locally made items are expensive and scarce.

• Wednesday, September 10th 2014 - 06:59 UTC

  Argentina plays the China card to bolster reserves: 800m pledged in first tranche

  

  The Argentine Central Bank foreign reserves would be bolstered this year with up to 800 million dollars in Yuans transferred by China due to the first tranche of the money of the swap agreement signed between both countries, according to banking sources in Buenos Aires.

• Wednesday, September 10th 2014 - 06:22 UTC

  Cristina Fernandez celebrates the UN assembly vote: “we have to feel proud”

  

  Argentine President Cristina Fernández praised on Tuesday the United Nations General Assembly approval of a project that proposes legal framework to regulate restructuring of foreign sovereign debt, saying “Argentina has set an international leading case” with the initiative.