Economy

Wednesday, November 12th 2014 - 07:00 UTC
Argentina raids 71 banks and financial entities suspected of money laundering

Argentina's AFIP tax revenue service on Tuesday carried out searches at 71 banks, currency exchanges and other financial entities suspected of money laundering, the government said. More than 250 agents took part in the operation, which involved institutions in this capital and in the provinces of Buenos Aires, Mendoza and Cordoba, AFIP said in a statement.
Wednesday, November 12th 2014 - 06:42 UTC
Petrobras Argentina plans to invest 622m dollars to explore for shale gas

The Argentine unit of Brazilian state-controlled oil giant Petrobras plans to invest 622 million dollars to explore for non-conventional natural gas in Neuquen, the Argentine government announced on Monday.
Tuesday, November 11th 2014 - 07:25 UTC
Griesa authorizes Citibank to pay restructured bonds under Argentine law

New York District judge Thomas Griesa has authorized Citibank to complete the transfer of 85 million dollars to holders of restructured Argentine bonds under Argentine law, meeting debt services that expire on December 31.
Tuesday, November 11th 2014 - 04:34 UTC
Minister Swire underlines business opportunities for UK companies in Paraguay

UK Minister for Latin America, Hugo Swire, spoke of the growing presence of UK in Latin America and more specifically on the expanding links with Paraguay. Minister Swire said UK was determined to deepen its commercial ties with a rising Latin America and described Paraguay as a perfect trade and investment partner for UK, particularly since British oil industry has struck oil in the Chaco region.
Monday, November 10th 2014 - 19:56 UTC
Hong Kong-Shanghai stock exchanges link will allow trading across the border

Regulators have approved a long-awaited plan to connect the Hong Kong and Shanghai stock exchanges. The Shanghai-Hong Kong Stock Connect will allow investors to trade across the border for the first time and is set to begin on 17 November.
Monday, November 10th 2014 - 19:28 UTC
FAO's food price index remains stable in October: 'very good for importing countries'

FAO's monthly food price index was stable in October, as sugar and vegetable oil prices rose to offset declines in dairy and meat prices. The Food Price Index dipped to 192.3, technically, its seventh consecutive monthly decline, but a marginal 0.2% drop from the revised September figure.
Monday, November 10th 2014 - 08:54 UTC
Cable & Wireless acquires major Caribbean telecoms company

Columbus International Inc., the fiber-based telecoms company which operates in the Caribbean as Flow, has been acquired by LIME parent company, Cable & Wireless Communications Plc. (CWC), in a 3bn dollars buyout deal announced last Friday.
Monday, November 10th 2014 - 08:49 UTC
Scotiabank plans to shut 120 branches in Mexico and the Caribbean

Canada’s Scotiabank has announced plans to shut or shrink 120 branches, largely in Mexico and the Caribbean, in a bid to save CAN$120 million (One Canadian dollar =US$0.87 cents) annually. The bank said it would close down 35 of its 200 branches in the Caribbean and would sever 1, 500 full-time employees, including 500 from its international operations.
Sunday, November 9th 2014 - 11:01 UTC
Uruguay leads the 'prosperity index' in Latin America and ranks 30 worldwide

Uruguay is ranked in position 30 at global level among 'high prosperity' countries, according to the 2014 Legatum Prosperity Index, and remains at top position regarding Latin America. It's the same ranking as in 2013 and confirms Uruguay in the leading position for the region for several years running.
Sunday, November 9th 2014 - 10:46 UTC
Argentina's car production, domestic sales and exports in free-fall

Registrations for new vehicles in Argentina fell 40% in October compared to the same month in 2013, according to the latest study by commercial sellers' group ACARA. The chamber revealed that 52,983 cars were registered over the past month, against 59,099 in September and 88,948 last October.