Economy

• Wednesday, July 17th 2013 - 07:37 UTC

  “Applause for Argentines who invested in US real estate, I prefer a house in Paris”

  

  Argentine President Cristina Fernandez kept her tongue firmly in cheek as she referred to the record number of property acquisitions by Argentines in the United States, especially in the Miami area.

• Wednesday, July 17th 2013 - 07:24 UTC

  Argentina’s nationalized YPF and Chevron sign agreement to develop shale deposits

  

  Chevron, the world’s second-biggest oil company signed the first agreement with Argentina’s government since it nationalized YPF in 2012 to help develop shale oil and natural gas in the Vaca Muerta basin of the Patagonian province of Neuquen.

• Tuesday, July 16th 2013 - 21:12 UTC

  American offshore accounts in foreign banks with more than 50.000 dollars have to be reported

  

  The US Treasury Department said it will postpone enforcement of a new law that cracks down on offshore tax avoidance by Americans by six months until July 1, 2014, giving foreign banks more time to determine how to comply.

• Tuesday, July 16th 2013 - 20:10 UTC

  Total plans to spud first exploratory well in Uruguay’s continental shelf in 2015

  

  The French oil and gas company Total confirmed that at the beginning of 2015 it will spud its first exploratory well in deep waters of the Uruguayan continental shelf, according to Juan Gomez, one of directors from the country’s fuel company Ancap.

• Tuesday, July 16th 2013 - 17:15 UTC

  Uruguay presses for EU/Mercosur talks fearing loss of tariff benefits

  

  Uruguay needs a quick resumption of Mercosur/European Union trade and cooperation talks because at the end of the year expire a number of tariff benefits for Uruguayan exports, revealed Foreign minister Luis Almagro.

• Tuesday, July 16th 2013 - 17:10 UTC

  Argentina has dealt a ‘mortal blow’ to Mercosur that has become ‘a political forum’

  

  Speaking for a Brazilian business association in Sao Paulo, Rubén Barbosa accused the government of Argentina of dealing a ‘mortal blow’ to Mercosur, the regional grouping that was originally focused on economic integration and has since become a political forum for the region’s leaders as was again evident during the last summit in Montevideo.

• Tuesday, July 16th 2013 - 05:40 UTC

  Paraguay debates controversial 10% levy on grains and soybean exports

  

  The Paraguayan government said that the recently Senate approved controversial 10% levy on all exports of oilseeds and grains is “non applicable’ since it would need an amendment of the Customs Code, and recommends the implementation of alternative taxes.

• Tuesday, July 16th 2013 - 03:58 UTC

  China confirms economy is slowing down after second quarter weaker expansion

  

  China's economic growth slowed in the April to June period, the second straight quarter of weaker expansion. The world's second biggest economy grew by 7.5% compared to the previous year, down from 7.7% in the January to March period, data showed. The figures were in line with analyst expectations.

• Monday, July 15th 2013 - 16:22 UTC

  Uruguay files in SEC plans to sell up to 5 billion dollars in securities

  

  Uruguay filed a shelf registration with the US Securities and Exchange committee to sell up to 5 billion in US denominated securities. Economy minister Fernando Lorenzo said the filing will allow the government to issue debt when it is convenient for the country and market conditions are favourable.

• Sunday, July 14th 2013 - 23:53 UTC

  Argentina litigation with hedge funds; ‘US could end siding with Buenos Aires’ says Washington Post

  

  The United States Justice, Treasure and State Department officials met on Friday with lawyers both from Argentina and hedge funds that refused to accept the administrations of presidents Nestor Kirchner and Cristina Fernandez debt swaps, The Washington Post reported on Saturday.