Economy

Tuesday, July 29th 2014 - 05:13 UTC
Dollar in Argentina climbs to 13 Pesos and the stock market drops 1%

The “blue” dollar on Monday spiked 40 cents, to 13 Argentine pesos, amid growing uncertainty over the negotiations between Argentina and its holdout creditors in New York, as the July 30 deadline set by US Judge Thomas Griesa approaches.
Monday, July 28th 2014 - 07:56 UTC
Argentine farmers and government again clash over the 'preyed-upon decade”

Argentine Agriculture Minister Carlos Casamiquela and Federal Planning chief Julio De Vido rebuffed the criticism of the head of the Argentine Rural Society (SRA), Luis Etchevehere, who at the opening of the Palermo livestock show accused the government of President Cristina Fernandez of being “ignorant and arrogant”.
Monday, July 28th 2014 - 07:34 UTC
Three top banks accused by investor of trying to rig silver prices

Deutsche Bank, HSBC and Bank of Nova Scotia have been accused of attempting to rig the price of silver, in a lawsuit filed in the US. The plaintiff alleges the banks, which set the price of silver each day, abused their position in the market.
Monday, July 28th 2014 - 07:30 UTC
Cash-short Venezuela considering the sale of its US downstream subsidiary

Venezuela's state-run oil company Petroleos de Venezuela SA (PDVSA) is considering offers to sell its U.S. downstream subsidiary Citgo, industry research group Argus Media reported on its website last Friday.
Monday, July 28th 2014 - 07:04 UTC
Uruguay, Paraguay and Bolivia private sectors unite to combat Mercosur protectionist policies

The private sectors from Paraguay, Uruguay and Bolivia agreed to form a business lobby, Urupabol, with the purpose of actively combating protectionist policies and other obstacles implemented inside Mercosur, mainly by senior members Argentina and Brazil.
Saturday, July 26th 2014 - 06:56 UTC
Cristina Fernandez will analyze holdouts' case during her stay in Rio Gallegos

President Cristina Fernandez left on Friday for Santa Cruz province, where she will stay for the weekend and analyze New York Argentine/holdouts case briefings. The Argentine delegation returned on Friday to Buenos Aires after two meetings with appointed mediator Daniel Pollack in New York, where no resolution was reached.
Saturday, July 26th 2014 - 06:49 UTC
IMF warns about 'default' costs for Argentina; calls for debt restructuring mechanisms

The IMF's chief economist warned that a default by Argentina in its battle with holders of its defaulted debt may hurt its economy and the global financial system. Argentina continues to face the fallout of its 2001 debt default, which plunged the country into an economic crisis it is still battling to overcome.
Saturday, July 26th 2014 - 06:36 UTC
Argentina/holdouts impasse remains; delegation back to Buenos Aires for instructions.

Argentina failed to reach a breakthrough with the U.S. court-appointed mediator in its battle with holdout creditors in New York on Friday in talks that lasted just an hour. The Argentine delegation is flying back to seek instructions from its government, mediator Daniel Pollack said, while the country's economy ministry underscored it would continue the dialogue with him over the next few days.
Saturday, July 26th 2014 - 06:18 UTC
Brazilian auto industry putting workers on paid leave as production plummets 10%

General Motors Co wants to put nearly a fifth of its workers at a factory in Brazil on paid leave, an auto workers union said this week, amid falling output in Latin America's largest economy.
Friday, July 25th 2014 - 06:26 UTC
Uruguay oil and gas summit schedules for next November

Global Summits Organizer IRN and Grupo BG de Eventos will be launching the inaugural Uruguay Oil & Gas 2014 Summit which will take place on 17th-18th November in the capital of Uruguay, Montevideo. This Summit follows the announcement of the third oil bidding round, the Ronda Uruguay III.