Friday
May 18, 2012

The US dollar raised half a cent to AR$4.43/AR$4.47 today compared to yesterday's close. After the AFIP tax collection agency began tightening controls on dollar purchases, the US currency was trading at AR$5.59 on the black market.


The session that intended to debate the Buenos Aires province tax reform once again failed to gather to begin the discussion in the provincial Lower House after the ruling party failed to come to an agreement with the opposition.

US stocks hit a four-month low as rising Spanish bond yields increased investor anxiety over that country's banks and another round of weak data undermined hopes for US economic recovery. Meanwhile, European shares hit multi-month troughs and a key banking index its lowest mark ever.

Pablo Schoklender declared before Federal Judge Norberto Oyarbide and pointed at Hebe de Bonafini, as the one who made all decisions within the organization and refused being the “organized” of an illicit organization the embezzled the Government funds it received.

The AFIP tax agency carried out a surprise operation in Downtown Buenos Aires that ended in the arrest of an illegal money exchange dealer at the intersection of Lavalle and Florida, who was “outspokenly” selling dollars, Euros and reals.

The City government announced that the rubbish recollection services in the metropolitan area could not operate due to a lock out at the CEAMSE landfill that would not let trucks dispose their loads correctly.

Buenos Aires stocks fell today, with the Merval benchmark stock index moving down 1.8 percent to  2,121.52 points.

Moody's rating agency downgraded today the ratings of the Spanish regions of Catalunya, Murcia, Andalucia and Extremadura. The investor’s service agency informed the downgrading was due to their poor fiscal performance last year and the “low probability that the regional governments will be able to meet the 2012 deficit target set by the central government.”

Judge Norberto Oyarbide said today that his decision to close the wiretapping investigation stance putting Buenos Aires City Mayor Mauricio Macri closer to being tried has been "poorly interpreted."

• Wiretapping: Oyarbide sends Macri to trial • Macri: 'It's a politically-driven stunt'

President Cristina Fernández de Kirchner arrived to Angola this morning, beginning a three-day visit in which she will meet her counterpart, José Eduardo Dos Santos in addition to leading a trade mission alongside 400 Argentine businessmen.

Russian Prime Minister Dmitry Medvedev warnedthat military action against sovereign states could lead to a regional nuclear war, starkly voicing Moscow's opposition to Western intervention ahead of a G8 summit at which Syria and Iran will be discussed

An oil spill was discovered off Brazil's coast near the country's Espirito Santo state, Brazil's Navy said  the latest in a series of spills that have raised questions about the safety of a massive expansion of the country's oil production capacity.

State-controlled Argentine energy company YPF said it risks having its American Depositary Shares (ADS) delisted by the New York Stock Exchange since it is not complying with all regulatory requirements.

Argentina's Gross Domestic Product increased 0.6 in April year-on-year, according to the Activity General Index (IGA-OJF) elaborated by the private agency Orlando J. Ferreres & Asociados.

A decision by Greece to leave Europe's common currency zone would raise big questions about the impact on Spain, Italy and other euro zone countries with big debt loads that are undergoing structural reforms, the head of the World Bank said.

Protesting Chilean students marched again in the streets of Santiago de Chile to demand free education and deep reforms in the country’s schooling system. The demonstration ended up with a clash between hooded protesters and the police.

Subway strike, protests cause traffic chaos in the City

After going on strike today, the Transport Workers Union (UTA) announced that if their conflict with the subway concessionary company Metrovías remains unresolved next week, they will carry an additional 48-hour strike next Wednesday and Thursday. The Subway and Premetro Tram Workers Union Association will also lead a 48 hour strike on Tuesdays well, effectively stopping all subway services for three days.


Speaking as a guest on the Ambito Debate TV show, Chaco governor Jorge Capitanich said he respects Scioli’s statements but added that he believes “his responsibility now is to govern.”

Vélez Sársfield defeated holder Brazil's Santos 1-0 in the match for the quarter-finals of the Libertadores de América Cup.

Boca Juniors, the only team that has chances to win 3 tournaments this semester, defeated Brazil's Fluminense 1-0 in the match a for the first leg of the quarter-finals of the Libertadores de América Cup.

Facebook Inc priced its initial public offering at $38 a share, giving the world's No. 1 online social network a $104 billion valuation in the third largest offering in US history.

The national government urged the city government to take responsibility for a subway strike that was affecting millions of commuters, while Metrovías subway company called city officials to join wage negotiations.

• Gov't blasts Macri, Metrovías

Disco queen Donna Summer dies at 63

One of the original soul and disco divas, singer Donna Summer, has died today at the age of 63.

Initial claims for state unemployment benefits in the US held steady at a seasonally adjusted 370,000, the Labor Department said.

Juan Martín Del Potro was eliminated of the Rome Masters by French Jo-Wilfred Tsonga by 6-4 and 6-1 at the pre-quarter finals. Earlier, Mónaco lost to world number one Novak Djokovic of Serbia by 4-6, 6-2 and 6-3.

• Federer shows off his form with easy win

Rock band Van Halen postponed more than 30 concert dates of their US summer tour, leading to speculation the "Runnin' with the Devil" group was feuding again.

Cuban President Raúl Castro's daughter is scheduled to visit California next week to speak at a conference of experts on Latin America during a rare US trip by a member of Cuba's ruling family.





MARKETS

Dollar Dolar $ 4,430 $ 4,470
Euro Euro $ 5,660 $ 5,800
Pound Euro $ 6,991 $ 7,058
Other currencies

Things fall apart

Things fall apart

James Neilson

To the evident dismay of Cristina and her devotees, the gas-guzzling economic “model” they are so proud of that they think the rest of the planet would be well-advised to adopt it is...

Red-hot Chile peppers?

Red-hot Chile peppers?

Carolina Barros

While Latin America’s focus is mostly on Mexico’s July 1 presidential elections, Venezuela’s scheduled for October 7 and high noon in the United States on November 6 — where the...

Obama, gay rights and minorities

Obama, gay rights and minorities

Patricio Navia

President Barack Obama’s public support for gay marriage will likely invigorate his progressive electoral base and will only bring limited political cost for his reelection bid among key minority...

Twilight of the cabals

Twilight of the cabals

Ivan Briscoe

A few cherished parts of civilized living, from starched linen to butlers in attendance, may have fallen into oblivion, but nothing can stop the onward march of a fine hot meal.

Obama takes a stand

Obama takes a stand

Robert Cox

CHARLESTON, South Carolina — There was a moment in the 2008 presidential campaign when the Democratic Party candidate, Barack Obama, appeared to be doomed. He was under attack...

Your bottom dollar

Your bottom dollar

Martín Gambarotta

Global capitalism, by now you know, is suffering an identity crisis. So how are things here at home? Argentina has definitely not crashed just yet. In the words of President Cristina Fernández...

Tweets and shout

Marcelo J. García

Everything is big in China, and so is the Internet. Over half a billion Chinese are connected to the web and the Chinese Ministry of Information and Information Technology estimated there would likely be over 800 million (57 percent of the total population) by 2015...

Cantero thinks gov’t will help

Cantero thinks gov’t will help

Eric Weil

There are less than half a dozen soccer clubs in Argentina which professed their intention to battle the hooligans, but only one is doing it seriously — Independiente, under its president...

Laura, so very Laura

Laura, so very Laura

Yoani Sánchez

Eight years ago Laura Pollán was a schoolmarm who lived with her husband Héctor Maseda, leader of the illegal Cuban Liberal Party. Despite all the vicissitudes of living in a country...

Within a generally difficult labour scenario, the complexity of the ongoing subway dispute is especially fiendish. This is not just a typical conflict between management and the labour (with the former absent at the negotiating-table and a surplus of the latter)...

• No dormirse con el Subte


This week, Pablo Trapero’s latest: ‘White Elephant,’ is one definitely worth looking into. The film stars Ricardo Darín and Jeremie Renier- two priests who travel through shanty towns, carrying out tough work alongside a social worker. Other releases include ‘The Double,’ ‘A Few Best Men,’ and ‘The Revolution is a Dream.’ (Click the headline to see the trailers).

Inside BuenosAiresHerald.com

Out & About! Rosana


The Spanish singer/songwriter started out writing for others until she decided to put her own voice on them. Her début Lunas rotas included such hits as...

Elefante blanco: sacramental showdown

In most cosmopolitan capitals extreme poverty is, more often than not, found side by side with the type of splendour normally associated with capitalist...

Young blood stirring the pot

After winning the 2011 Grammy Award for Best New Artist, Esperanza Spalding probably felt an extra pressure when the time came for her following...

A small Japanese car arrives in Argentina

The new Nissan March was finally introduced in our country, being the first car with popular features offered by a Japanese automaker in Argentina...

Grupo ámbito ámbito financiero ambito.com Docsalud alrugby.com Premium ávp El Ciudadano El Tribuno Management Pesca Caza
Director: Orlando Mario Vignatti - Edition No. 3413 - This publication is a property of NEFIR S.A. - Issn 1852 - 9224 - Te. 4349-1500 - Paseo Colón 1196, (C1063ACY) CABA