Monday
September 1, 2014

The mayor of Buenos Aires city vowed to lower inflation rates in two or three years and to “remove export tax duties” and “any impediment to export” if he is elected president in 2015 elections.

Cabinet Chief Jorge Capitanich adressed the warnings issued by different analysts about the government’s record monetary base expansion in August. He dismissed a negative impact on inflation rates saying “analyst’s forecasts will not necessarily happen.”

By Charlie Devereux and Pablo González

Truck drivers say theft and extortion are on the rise at the country’s main port, Rosario. While police have pledged to step up security, escalating crime has boosted shipping fees and compounded delays at terminals, threatening the country’s biggest source of dollar income at a time when Central Bank reserves near an eight-year low.

Cabinet Chief Jorge Capitanich reiterated Argentina’s demand for a stay to US Judge Thomas Griesa in the dispute against its holdout creditors. “When we think of a simple, easy solution, it is up to Judge Griesa. It is to issue a stay until the first trimester of 2015,” he stated.

Cabinet Chief Jorge Capitanich said that “Secretary General to the Presidency Oscar Parrilli is working on a report for Federal Judge María Servini de Cubría,” following the magistrate’s warning of a raid at government house if she did not receive the information she requested in her investigation into drug trafficking.

Agriculture Minister Carlos Casamiquela predicted that Argentine food export to Russia “could increase between 1,800 and 2,000 million dollars” and expected the operations to begin on September 15, when officials and business leaders of both countries meet in Moscow’s World Food exhibition.

By Fermín Koop

Prescription drug makers expect the government to authorize them to increase their retail prices soon as the two-month freeze on prices expired last week.

Heavy fighting between the Syrian army and Islamist rebels erupted today on the Golan Heights, where the militants have wrested control of a key frontier crossing which had been operated by the United Nations.

It will be an unusually busy week in Congress as the ruling Victory Front (FpV) will try to pass a number of key initiatives in the Senate, including modifications to the 1974 Anti-Hoarding law and the change in jurisdiction for the country’s debt in a marathon session called for Wednesday.

Following the presentation of ARSAT 1, the first satellite fully developed in Argentina, the president posted a new series of tweets about it. “We speak of satellite sovereignty because the UK was after one of the two orbital positions that Argentina managed to retain for its satellites,” she said.

• CFK presents Argentine satellite

Candidates allied to senator Gerardo Zamora have confirmed their control over the majority of districts in Santiago del Estero province following municipal elections, although key target city La Banda eluded the Civic Front.

Foreign Minister Héctor Timerman referred to Argentina’s plan to regulate international debt restructurings, to be presented on Tuesday before the UN's General Assembly, and stressed the importance of the project saying that “the legal loophole is huge” and that it affects “most of the countries in the world.”

Germany’s Finance Minister Wolfgang Schäuble slammed Argentina’s stance against its holdout creditors saying it has been -and continues to be- “an example of lack of solidity.”

Argentine naval authorities have stepped up efforts to find four citizens who have been missing since last Tuesday when a storm engulfed their sailing vessel, around the Brazilian port of Río Grande do Sul.

By Guillermo Háskel

A ban which Russia clamped last month on food imports from the United States and the European Union as a retaliation for Western sanctions over its support for rebels in Ukraine, is providing a good opportunity for breadbasket Argentina, which rushed to send a trade mission to Moscow.

The informal rate fell back to 13.90 pesos today as the market quiets down after the past weeks’ record climbs. Meanwhile, the US dollar traded steady at 8.42 pesos. Low market activity is expected today due to the US Labour Day holiday.

Argentina's tax revenue jumped 31.3 percent in August from a year earlier to 99.7 billion pesos ($11.852 billion), the government said today.

Ukrainian President Petro Poroshenko accused Russia today of "direct and open aggression" which he said had radically changed the battlefield balance as Kiev's forces suffer major reverses in the war with pro-Moscow separatists.

• Putin calls for 'statehood' talks

US dollar purchases for savings reached a record high of almost US$260 million in August as citizens flooded the official exchange market amid the highest devaluation of the peso since January.

Before the meeting of the Minimum Wage Council scheduled for today, Hugo Yasky, the head of pro-government CTA splinter group, said they would demand a 35 percent minimum wage hike and warned the job market is eyeing “warning lights” due to increased suspensions and firings.

• Minimum Wage Council to meet

After the controversy sparked by Security Secretary Sergio Berni’s remarks on foreigners who “come to Argentina to commit crimes”, the government has decided to launch a “round table” with NGOs to discuss migration policies.

European shares edged higher to trade near a recent one-month peak today, with mergers and acquisitions speculation surrounding British broadcaster ITV helping media stocks and Novartis leading drugmakers.

FIBA World Cup: Argentina beats Philippines in agony

The British government has said it deplored an Israeli decision to appropriate a large swathe of land inside the occupied West Bank, saying the move would seriously damage Israel's international reputation.

• Israel claims West Bank land

Rodolfo Arruabarrena's tenure as Boca Juniors coach enjoyed a perfect start, as Carlos Bianch's successor saw his team fight back from a goal down to beat table-toppers Vélez Sarsfield 3-1 in the Bombonera.

Lionel Messi picked up a hamstring strain in Barcelona's 1-0 victory over Villarreal in La Liga, and is now likely to miss Argentina's friendly against Germany on Wednesday.

Joan Rivers’ loved ones said yesterday that they remain hopeful about her recovery three days after she went into cardiac arrest at a doctor’s office.

Independiente fight back to take Avellaneda derby

Primera División new boys Independiente had to fight back from one goal down in the historic Avellaneda derby, but took the honours at home with a 2-1 victory that downed arch city rivals Racing this afternoon.

Thirty seven people were killed when a suicide bomber rammed an explosives-packed Humvee military vehicle into a construction site, used by the army and police, while Iraqi security forces backed by Shi'ite militias broke the two-month siege of Amerli by Islamic State militants and entered the northern town.






About 50 soccer stars and historical legends are expected today at the Olympic Stadium in Rome for an inter-religious exhibition match organized upon Pope Francis’ request, that seeks to promote world peace and understanding.

• Pope wishes "good luck" to players

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Full MARKET coverage HERE



Good and Bad news

Andrés Federman

Good and Bad news

Anything but war

Ivan Briscoe

Anything but war

Moyano strikes back

Martín Gambarotta

Moyano strikes back

Populists at play

James Neilson / As I See it

Populists at play

Away from  the extremes

Marcelo J. García

Away from the extremes


• World Trade

Argentine trade opportunities with Russia healthy but no panacea

• On Sunday

Brushing aside Socialist Dreams


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