Thursday
July 24, 2014

After three hours, Argentina and vulture funds representatives emerged from their meeting in New York with appointed mediator Special Master Daniel Pollack without making any comments.

• 'Argentina has no interest in negotiating' • Griesa orders Argentina, creditors to meet

Argentine debt holdout investor Mark Brodsky, chairman of Aurelius Capital Management, said his group will not ask US Judge Thomas Griesa to suspend his payment order, after a story in an Argentine newspaper suggested that Paul Singer’s NML Capital Ltd could ask Griesa to reinstate the stay of injunction.

Buenos Aires governor Daniel Scioli highlighted today President Cristina Fernández de Kirchner’s leadership in the Argentine conflict with holdouts, while saying Argentines must act and comment on the matter “with responsibility.”

Ahead of a new hearing called by Judge Thomas Griesa's mediator, Daniel Pollack, in the battle against holdout creditors, Cabinet Chief Jorge Capitanich said the country faces "an absurd situation caused by an absurd ruling that should be fixed by the judge himself”.

• ‘Life goes on despite VF's extorsion’

After moving up by 15 cents yesterday, the “blue” dollar fell back 10 cents to 12.50 pesos today. The official US dollar, meanwhile, closed up a cent at 8.19 pesos in Buenos Aires City banks and foreign exchange offices.

“I want to tell all Argentines that I will not sign anything that jeopardizes future generations,” President Cristina Fernández de Kirchner said yesterday in a speech that served to reaffirm a perceived recovery in her image among the electorate, particularly as result of her administration’s handling of the struggle against holdout hedge funds.

US stocks ended a quiet session today as earnings painted a mixed picture of the economy, though the S&P 500 set another record closing high.

Cabinet Chief Jorge Capitanich said the suspension of workers in the automobile industry are “transitory”, caused by a drop in external demand from Brazil. Asked about the 900 workers  suspended yesterday in Córdoba province, he stressed that “suspensions are not lay-offs”.

Coto and Carrefour have been fined with $6 million as the Domestic Trade Secretary considered both supermarket chains have failed to comply with the government-sponsored Precios Cuidados price watch program that sets reduced prices for more than 150 products.

Pro-government CTA central of workers met today with Cabinet Chief Jorge Capitanich, with its secretary general Hugo Yasky demanding a 35 percent wage hike, a compmrehensive tax reform, and a change of the income tax scheme, among other issues.

Amado Boudou met with Federal Judge Claudio Bonadío in the Comodoro Py federal courthouse but refused to answer questions over alleged irregularities in the purchase of an Honda CRX vehicle in 1992. The VP delivered a written statement instead.

Head of the anti-government splinter of the CGT labour confederation Hugo Moyano talks with “most candidates” seeking to battle for the presidential seat in 2015 but not that much with figures of the ruling Victory Front party, he said.

Chinese President Xi Jinping ended an eight-day trip through Latin America with a visit to eastern Cuba, where both the island's independence struggle against Spain and Fidel Castro's revolution began.

Argentine economic activity fell 0.2 percent in May compared to the same month last year according to the Monthly Economic Activity Estimator (EMAE), published by state-run INDEC statistics bureau.

At least 15 people were killed and many wounded when Israeli forces shelled a UN-run school sheltering Palestinian refugees in northern Gaza, said a spokesman for the Gaza health ministry, Ashraf al-Qidra.

• Hamas ready to accept truce with conditions • Khamenei calls for end to Israeli regime • US, Europe lift ban on flights to Israel

UN Secretary-General Ban Ki-Moon said he was appalled by the shelling of a UN school in the Gaza Strip today and made a vehement plea for both sides to end the conflict.

The United States has claimed that Russia was firing artillery across the border into Ukraine to target Ukrainian military positions in the conflict against pro-Russian separatists, charges denied by representatives of the country.

• Pro-Russian rebels down fighter jets

Argentina national team coach Alejandro Sabella will finally meet next week with Argentine Football Association (AFA) President Julio Grondona, as talks between the two to discuss the trainer's continuity were postponed today.

A 21-year-old woman from Neuquén province died after being hit, dragged by 30 meters and abandoned by a taxi driver while crossing the street in front of Aeroparque airport.

By Fermín Koop

Argentina’s trade balance plunged 28.4 percent in the first half of the year, compared to the same period the year before, with the surplus coming in at US$3.684 billion million, according to the state-run INDEC statistics bureau.

The trial against Venezuelan hardline opposition leader Leopoldo López, who is accused of inciting violence at anti-government protests, began yesterday in Caracas. López could face up to 13 years in jail if convicted.

San Lorenzo were in complete control as they thrashed Bolivar in the first leg of their Copa Libertadores, running out 5-0 winners over the hapless Bolivian team to take a giant leap towards the tournament's final.


Mali's President Ibrahim Keita said that the wreckage of a missing Air Algerie flight had been spotted in his country's desert north. The flight lost contact en route from Ouagadougou in Burkina Faso to Algiers with 110 passengers and 6 crew on board.

Cuban president Raúl Castro’s daughter, Mariela Castro, denied the rumours of her death that began after Ouagadougou’s airport informed that she was one of the passengers of the Air Algerie flight that crashed today after taking off in Burkina Faso.




By Francisco Aldaya

Support for the government in its struggle against holdout hedge funds, which could culminate in a default on July 30, is rising among regular citizens, a national survey by the Poliarquía showed yesterday.

MARKETS ONLINE

CurrenciesBUYSELL
Dollar (Official price) DOLLAR (Official price) $ 8,140 $ 8,190
Dollar Blue price) DOLLAR ("Blue" price) $ 12,40 $ 12,50
Euro EURO $ 10,900 $ 11,350
Pound POUND $ 13,822 $ 13,915
Indices
Merval MERVAL $ 8.232,630 $ 1,15
Dow Jones DOW JONES $ 17.083,800 $ -0,02
Bovespa BOVESPA $ 57.977,560 $ 0,97
Full MARKET coverage HERE

By Tomás Brockenshire

Amid concerns that growth in human development indices have begun to slow down in Latin America and globally, the 2014 United Nations Development Programme (UNDP) Human Development Report will be released today in Tokyo along with calls for public policies aimed at ensuring vulnerable populations receive universal social assistance.


Writing in sand

Michael Soltys / Senior Editor

Writing in sand

A disproportionate response?

Dorit Shavit / Ambassador of Israel in Argentina

A disproportionate response?

No A in BRICS

Martín Gambarotta

No A in BRICS

Unfriendly terms

Patricio Navia

Unfriendly terms

Reality check

Andrés Federman

Reality check


By Emily Bazelon

There’s a short-term question that’s not hard to answer at all: where should the 57,000 children who are already here go? The answer is: every state should be raising its hand and offering to take some of them.




• World Trade

Nicaragua canal project technically feasible, but shrouded in doubts

• On Sunday

The geopolitics of soccer

Grupo ámbito ámbito financiero ambito.com Docsalud AlRugby.com Premium El Ciudadano El Tribuno Management

Director: Orlando Mario Vignatti - Edition No. 4199 - This publication is a property of NEFIR S.A. -RNPI Nº 5177376 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA