Economy

Thursday, July 24th 2014 - 06:42 UTC
Xi's Latam visit ends in Cuba where China consolidated trade and financial relations

Chinese President Xi Jinping ended on Wednesday an eight-day trip through Latin America with a visit to eastern Cuba, where both the island's independence struggle against Spain and Fidel Castro's revolution began.
Thursday, July 24th 2014 - 06:20 UTC
World Bank praise for Peru as one of the most solid economies in the region

The World Bank's vice president for Latin America and the Caribbean, Jorge Familiar, on Wednesday highlighted Peru's economic growth over the past 10 years. Peru's average economic growth over the period has registered 6. 5% annually, allowing many Peruvians to escape poverty, said Familiar.
Thursday, July 24th 2014 - 06:18 UTC
Humala signs contract for pipeline that will make Peru a leading gas exporter of the region

The consortium made up of Spanish energy company Enagas and Brazilian construction giant Odebrecht signed a contract on Wednesday with Peru's Energy and Mines Ministry for the construction and operation of a natural gas pipeline that will run from the Camisea gas fields to the Pacific port of Ilo.
Wednesday, July 23rd 2014 - 06:51 UTC
Argentina claims Griesa is blocking bondholders money and using 'vulture funds' language

Argentina reacted strongly to Tuesday's events in the New York federal court which denied its stay request, claiming Judge Thomas Griesa “did not solve absolutely any of the issues for which he summoned today's audience”, insisting with his “unbelievable ban” on structured bonds' collecting their payment.
Wednesday, July 23rd 2014 - 06:42 UTC
Holdouts want to sit down with Argentina and solve the dispute; 'countdown clock'

Following on Tuesday's audience with Judge Thomas Griesa, NML Capital the leading speculative fund litigating with Argentina, issued a release saying “it is willing to hold a meeting with 'Special Master' Daniel Pollack and Argentina to solve the dispute”.
Wednesday, July 23rd 2014 - 01:10 UTC
Griesa rejects 'stay'; orders Argentina and holdouts to meet 'round the clock' to reach a deal

US Judge Thomas Griesa rejected on Tuesday Argentina’s request for a suspension ('stay') on the ruling that ordered Buenos Aires to pay 1.3 billion dollars plus interests to holdout speculative funds and instructed Argentina and holdouts to meet on Wednesday morning for a first face-to-face meeting.
Tuesday, July 22nd 2014 - 09:05 UTC
Mercosur was not created to become a fortress of 'hyper-protectionism'

Former Uruguayan president Julio Maria Sanguinetti and founder of the Montevideo Circle Foundation said Mercosur was not created to become a fortress of hyper protectionism but rather to promote competition and integration with flexibility. Sanguinetti participated in a round of conferences of the Montevideo Circle Foundation in Paraguay.
Tuesday, July 22nd 2014 - 09:00 UTC
Mercosur has 'yet to crystallize' but 'I remain positive' says Cardoso

Former Brazilian president Fernando Henrique Cardoso said that Mercosur has 'yet to crystallize as a customs union' and pointed to the common external tariff which is the founding stone but is “full of objections” as the main hurdle. Nevertheless “I remain positive about the strength of Mercosur”.
Tuesday, July 22nd 2014 - 06:49 UTC
Argentina again requests stay ruling from Judge Griesa to pay restructured bondholders

Argentina asked U.S. judge Thomas Griesa on Monday to put on hold an order requiring it to pay bondholders who did not participate in debt restructurings following the country's 2002 default, while it seeks a “global resolution.”
Tuesday, July 22nd 2014 - 06:39 UTC
China/Argentina swap disagreements to be addressed by courts in London and Paris

Argentina's current confrontation in New York with Judge Thomas Griesa and the holdout speculative funds brings up the issue of having resigned the sovereignty of Argentine courts at the time of negotiating or restructuring foreign debt.