Economy

Tuesday, June 24th 2014 - 06:54 UTC
Griesa appoints mediator for talks between Argentina and holdout hedge funds

New York district court judge Thomas Griesa on Monday appointed a Manhattan attorney to supervise talks between Argentina and hedge fund holdout bondholders after the government of President Cristina Fernandez asked him to organize negotiations with its creditors.
Tuesday, June 24th 2014 - 06:42 UTC
Argentina requests a 'stay' order on the ruling favoring holdout creditors

Argentina asked a U.S. judge on Monday to issue a stay of his ruling against the country in its case against “holdout” creditors as it sought to avoid a possible new default. The country is in a 12-year-old legal fight with investors who declined to participate in bond restructurings (2005 and 2010) after the country defaulted on 100 billion dollars in sovereign debt in 2002.
Tuesday, June 24th 2014 - 06:27 UTC
Falklands promoted at “Experience Latin America” travel event in London

Representatives from Falkland Islands Holidays and International Tours and Travel travelled to London last week to attend ‘Experience Latin America’. Cathy Jacobsen (ITT) and Jenny Luxton (FIH) were both pleased with the level of interest expressed in the Falklands at the three day trade to trade event for the travel industry.
Tuesday, June 24th 2014 - 04:26 UTC
Argentine economy contracts 0.2% in first quarter; 2013 growth down to 2.9%

Argentina's economy contracted during the first quarter of the year as high inflation and weak exports to top trade partner Brazil took a toll. During the first three months of the year, GDP fell by 0.2% on the year and contracted 0.8% on the quarter, the national statistics agency Indec reported Monday.
Monday, June 23rd 2014 - 07:29 UTC
French energy 'jewel' Alstom taken over by General Electric

The board of directors of French power-to-rail group Alstom unanimously approved US conglomerate General Electric's 12.35 billion Euro bid to acquire its energy business.
Monday, June 23rd 2014 - 07:03 UTC
Falklands' record Illex and Loligo seasons, despite lack of data sharing with Argentina

A lack of cooperation from Argentina to share data means that the total Illex fishery for the region is not known and affects the accuracy of seasonal predictions in the Falklands fishery, it was reported at the Fisheries Committee on Thursday.
Monday, June 23rd 2014 - 04:39 UTC
Mercosur and Celac stand by Argentina in the hedge funds litigation

Mercosur and Celac country-members expressed support for Argentina and its ongoing litigation with the holdout hedge funds, particularly last week's decision from the US Supreme Court, (which refused to consider the case), and the financial consequences emerging from such a position.
Monday, June 23rd 2014 - 04:27 UTC
Argentina takes its differences with Judge Griesa to the US main journals

Argentina on Sunday took its battle against paying hedge fund investors in its defaulted bonds to the US media, placing adverts in major newspapers demanding US courts help foster “fair and balanced” negotiations.
Monday, June 23rd 2014 - 04:08 UTC
Jubilee Debt Campaign supports Argentina against “vulture funds” quick bucks

The following letter under the heading of “Urgent need for legislation on Argentina debt” was published in the Financial Times and refers to the ongoing battle with the holdout hedge funds.The piece is signed by Tim Jones, Policy Officer, Jubilee Debt Campaign, London, N1, UK.
Saturday, June 21st 2014 - 09:45 UTC
Strong warning to Argentina from Griesa regarding payment of bondholders

US Federal Judge Thomas Griesa, ratified on Friday through an official letter that Argentina’s proposal to carry out a debt exchange and pay its bondholders in Buenos Aires represents a “violation of the rulings and procedures.”