Economy

• Friday, August 22nd 2014 - 23:36 UTC

  WTO rules against Argentina in trade dispute with world powers

  

  The World Trade Organization (WTO) dispute panel ruled on Friday against Argentina in a 2012 case brought by the United States, European Union and Japan against Argentine import licensing rules used to restrict imports.

• Friday, August 22nd 2014 - 13:07 UTC

  Unlikely bedfellows: mines that run on solar or wind power

  

  Mining companies are often seen as dinosaurs when it comes to making changes that will benefit the environment, but that perception may be shifting as some companies turn to renewable energy to cut costs and lighten their carbon footprint.

• Friday, August 22nd 2014 - 08:20 UTC

  Nobel Prize Stiglitz sides with Argentina in reopening the debt swap

  

  In an interview with Argentina’s daily 'Ambito Financiero', Nobel Economics laureate Joseph Stiglitz considered the Argentine government’s move to reopen the debt swap and replace the Bank of New York Mellon with local Banco Nacion as trustee a “good call” saying the reopening would not be mandatory, “voluntarily” inviting bondholders to join the strategy.

• Friday, August 22nd 2014 - 08:04 UTC

  Argentina suspends beef exports 15-days to contain domestic prices

  

  The Argentine government has decided to restrict beef exports for a 15-day period seeking to stem the rise of prices in the domestic market. The decision was confirmed by Cabinet Chief Jorge Capitanich and sparked criticism by business leaders in the sector with some voices saying the strategy will have “no positive effects.”

• Friday, August 22nd 2014 - 07:43 UTC

  Argentina describes Griesa as 'ignorant' and lacking knowledge on democratic institutions

  

  The Argentine government again blasted Judge Thomas Griesa for declaring 'illegal' the bill sent to Congress referred to the country's debt and creditors, and said the magistrate “ignores national sovereignty” and “ignores how democratic institutions function”.

• Friday, August 22nd 2014 - 07:33 UTC

  European holders of swapped Argentine bonds willing to accept removal of the RUFO clause

  

  European investors holding 5.2 billion dollars of restructured Argentine bonds are negotiating the removal of the Rights Upon Future Options (RUFO) clause that Argentina claims prevents them from negotiating with holdout funds, it was reported in the Buenos Aires media.

• Friday, August 22nd 2014 - 07:17 UTC

  Griesa leaves Argentina 'in contempt' ledge; warns any change of jurisdiction was 'lawless'

  

  US District Judge Thomas Griesa declared on Thursday that an Argentine plan to change the 'jurisdiction' of restructured foreign debt was illegal, while resisting holdout investors' demands that Argentina be held in contempt of court for attempting to change the site of payment to Buenos Aires.

• Friday, August 22nd 2014 - 00:08 UTC

  Premier oil shows stronger than expected output in first half of the year

  

  Falkland Islands involved oil and gas explorer Premier Oil may upgrade its 2014 production forecast after stronger-than-expected output in the first half of the year, pending the outcome of summer maintenance work, its Chief Executive said. The company reported a 7% rise in first-half profit after tax on Thursday, helped by strong oil production from its British fields.

• Thursday, August 21st 2014 - 08:30 UTC

  Kicillof: “no change of NY jurisdiction, but a change of payment location”

  

  Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.

• Thursday, August 21st 2014 - 08:06 UTC

  'A contempt of court does not apply to sovereign Argentina', says Capitanich

  

  Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following Argentine President Cristina Fernández decision to push a bill to change the payment jurisdiction to Buenos Aires, Cabinet Chief Jorge Capitanich pointed out that as a “sovereign country” Argentina cannot end up in contempt despite Griesa’s warnings.