Economy

• Saturday, August 16th 2014 - 11:32 UTC

  Trust in Argentine reliability has vanished, as a result of the bonds' litigation

  

  Debt talks on Argentina’s defaulted bonds in the hands of holdout hedge funds ultimately collapsed this week due to disagreements over prices and the absence of a government guarantee to honor payments on the paper, sources close to the discussions said.

• Saturday, August 16th 2014 - 09:01 UTC

  Argentine Euro-bond holders have appealed Griesa's ruling blocking payment

  

  Holders of Euro-denominated Argentine bonds have appealed judge Thomas Griesa's ruling blocking Argentina from making payments on their debt, according to a court filing.

• Saturday, August 16th 2014 - 08:45 UTC

  Global trade union summit condemns actions of vulture funds against Argentina

  

  The International Transport Workers’ Federation passed on Friday a motion condemning the actions of the 'vulture funds' against Argentina and calling ”not to allow the vulture funds to paralyze the debt-restructuring processes of developing countries or prevent states from exercising their right to protect their citizens under international law”, according to a release from the Argentine embassy in London.

• Saturday, August 16th 2014 - 08:32 UTC

  Argentine official inflation in July, 1.4% and 16.7% in first seven months

  

  Argentine inflation rose 1.4% during July leaving consumer prices 16.7% higher than at the beginning of the year, official data showed on Friday. The July index was slightly higher than the 1.3% of June and confirms Argentina is experiencing one of the highest inflation rates in the world and only second to Venezuela in Latin America.

• Friday, August 15th 2014 - 07:13 UTC

  Cristina Fernandez will use anti-terrorism law against US company that closed its Argentine plant

  

  Argentina's government will use an anti-terrorism law for the first time to seek criminal charges against a U.S.-based international printing firm which closed its Argentine plant without warning, president Cristina Fernández said on Thursday. She linked the company to some of the hedge funds in litigation with Argentina over defaulted bonds.

• Friday, August 15th 2014 - 06:47 UTC

  New record for the US dollar in Argentina's 'blue market', 13.20 Pesos

  

  The US dollar in Argentine money markets continued its rising path on Thursday with a new record climb to close at 13.20 Pesos. This so-called “blue” dollar had jumped 20 cents to 13.15 pesos on Wednesday, breaking its 13.06 Pesos record from 23 January.

• Friday, August 15th 2014 - 06:44 UTC

  Argentine July inflation 2.47% and 39.71% in twelve months, according to Congress index

  

  July consumer prices index in Argentina according to the so called Congressional index, climbed 2,47% and 39.71% in the last twelve months. The same index marked 2.2% in June indicating a growing tendency.

• Friday, August 15th 2014 - 06:40 UTC

  Chilean lawmakers approve initiative to ban trawling in territorial waters

  

  The House of Representatives approved this week a draft agreement to ban trawling in Chile. With 55 votes in support, six against and five abstentions, the deputies voted in favor of the Draft Resolution No. 100, which requests the Executive to submit a legislative initiative to amend Article 49 of Act No. 18,892 in order to ban fish catching by trawling.

• Friday, August 15th 2014 - 06:34 UTC

  Mujica, Latin America's most original leader according to The Economist

  

  Under the heading of “The sage of Montevideo”, The Economist visited the Uruguayan president at his farmhouse in the outskirts of Montevideo where they had a long chat.

• Friday, August 15th 2014 - 02:26 UTC

  All phone calls inside Chile become local; Punta Arenas code area is 61

  

  Chile has become a single territory for telecommunications and long distance calls with different rates for fixed lines will no longer exist beginning Saturday. This in practical terms will also means a 50% reduction on normal phone calls.