Investments

Wednesday, April 18th 2012 - 08:10 UTC
Hague expresses deep concern over the YPF case and promises support for Spain

British Foreign Secretary William Hague said he was “very concerned” at President Cristina Fernández announcement to expropriate YPF, a decision he believes “goes against all the commitments Argentina has made in the G20 to promote transparency and reduce protectionism.”
Wednesday, April 18th 2012 - 01:05 UTC
Bolivia’s Morales takes distance from YPF/Argentina conflict and praises Repsol

Bolivian president Evo Morales clearly took distance from Argentina’s expropriation of YPF, the Argentine affiliate of Spain’s Repsol which was announced on Monday and caused a major rift between Argentina and Spain and the European Commission.
Tuesday, April 17th 2012 - 21:41 UTC
IMF says investment climate in Argentina unpredictable; EC cancels bilateral meeting

The European Commission called off a meeting with officials in Argentina after President Cristina Fernández revealed plans to expropriate 51% of YPF from its mother corporation Spain’s Repsol.
Tuesday, April 17th 2012 - 07:07 UTC
Mexico appeals to CFK: nobody in its right mind invests in countries that expropriates

Mexican president Felipe Calderón and G-20 group head, said that Argentina’s plan to seize a majority stake in Repsol’s Argentine branch YPF is “very regrettable” and called on President Cristina Fernandez to reconsider and rectify the decision.
Tuesday, April 17th 2012 - 06:58 UTC
Chavez supports nationalization of YPF; offers Venezuela’s experience in the matter

Argentine president Cristina Fernandez received late Monday the first international support for her announced takeover of YPF from the Spanish corporation Repsol: the Venezuelan government and President Hugo Chavez, revealed the Foreign Affairs ministry.
Tuesday, April 17th 2012 - 06:52 UTC
Chile’s Enap, a partner of Repsol, “so we are also involved in the YPF dispute”

The Chilean government reacted with concern at the announcement by Argentina of a bill to expropriate 51% of the oil company YPF from Spain’s Repsol, since this will have a direct impact for Chile, said on Monday evening the Executive Secretary General Andres Chadwick.
Tuesday, April 17th 2012 - 03:12 UTC
EC supports Spain and warns YPF expropriation can seriously damage business climate

The European Community strongly supported Spain and oil corporation Repsol saying that the expropriation by Argentina of YPF is “a very negative signal” for investors and could seriously damage the business climate of the country.
Tuesday, April 17th 2012 - 00:28 UTC
US candidate Dr. Kim chosen World Bank president; takes office next July

US nominee Jim Yong Kim has been chosen as the new president of the World Bank. The Korean-American health expert, president of Dartmouth College faced a strong challenge for the post, which has traditionally gone to an American, from Nigerian Finance Minister Ngozi Okonjo-Iweala.
Tuesday, April 17th 2012 - 00:24 UTC
“Corruption the greatest threat” to the ruling party admits China’s Wen Jiabao

An influential Chinese journal has reprinted comments from China's premier calling for tougher anti-corruption rules, as a political scandal deepens. Wen Jiabao said corruption was the greatest threat to the ruling party
Monday, April 16th 2012 - 21:48 UTC
Argentina sends bill to takeover control of YPF from Spain’s Repsol

Argentine President Cristina Fernández de Kirchner sent to Congress a draft bill to expropriate Spain’s Repsol’s holdings of YPF oil and gas company. The announcement was made on Monday at the Government House during a sudden meeting with officials, political leaders, unionists and businessmen.