Latin America Argentina

  • BUENOS AIRES, Sept 14- Argentine bank loans should double over the next three or four years as interest rates fall in line with lower inflation expectations, the head of the local affiliate of Spain's Santander Group said in an interview on Wednesday. The country is gearing up for a potential lending boom, bolstered by reforms undertaken by President Mauricio...

  • He said BP's Pan American Energy LLC unit in Argentina would follow the same trend, with 2017 investment seen similar to or less than 2016, but clarified BP is not "putting the brakes on." Dudley met with Argentina's new President Mauricio Macri and with his finance and energy ministers this week, as nearly 2,000 executives visited Buenos Aires to hear the...

  • "We try to lock in strategic inventories and we're of course trying to position ourselves for what I'm calling a normalization of the grains market, both in Brazil and Argentina," BRF CEO Pedro Faria told Reuters in an interview late on Tuesday. Faria said he expects large 2016/ 17 corn crops from both Brazil and Argentina to improve the situation.

  • BUENOS AIRES, Sept 13- Toyota Motor Corp's unit in Argentina has been targeting new markets in South and Central America to keep production up as demand for cars from recession-ridden Brazil plummets, a company executive told Reuters on Tuesday. Steve St. Angelo, Toyota's chief executive officer for Latin America and the Caribbean, said the strategy of reducing...

  • BUENOS AIRES, Sept 13- The chief executive of the world's largest advertising company WPP told Reuters that Argentina's new government has made "significant" reforms in a short period of time and his group would like to make more acquisitions and investments in the country. Sorrell, in Buenos Aires for a government investment forum, said Argentina under...

  • BUENOS AIRES, Sept 13- Argentina's government is mulling postponing a tax cut planned for next year on soy exports, cabinet chief Marcos Pena said on Tuesday, as a recession in Latin America's third largest economy eats into fiscal revenue. He also expressed optimism over talks with Britain about flights to the Falkland Islands from the mainland, but said...

  • BUENOS AIRES, Argentina— Argentina's energy minister is selling his stock in Royal Dutch Shell in line with a recommendation by the country's anti-corruption office. The Energy Ministry said in a statement Tuesday that Aranguren sold the stock following the recommendation by the anti-corruption office a day earlier to either get rid of the shares or set up a...

  • BUENOS AIRES, Argentina— President Mauricio Macri urged the CEOs of Coca-Cola, Siemens and nearly 2,000 other foreign and local companies Tuesday to invest in Argentina and help revive its struggling economy. "We're starting to see strong signs that the recession is on its way out and the world is once again looking at and talking about Argentina."

  • BUENOS AIRES, Sept 13- Argentina is hoping a conference of nearly 2,000 top corporate executives that began on Tuesday will spark the capital investment needed to recharge its shrinking economy. Companies agree with Macri's policies, which have included export tax cuts and floating the peso currency, but they are waiting for signs that he can halt the...

  • BUENOS AIRES, Sept 9- Divisions inside Argentina's dominant political movement, Peronism, have weakened its clout in Congress and are helping center-right President Mauricio Macri push through pro-market reforms aimed at restoring economic growth. Fernandez's followers, who supported Justicialist Party candidate Daniel Scioli for president last year,...

  • *EU ruling unhelpful for Ireland, says investment chief. DUBLIN, Sept 7- The European Union's demand that Ireland claw back billions in tax from Apple has hit the country's reputation as an investment destination just as it eyes up opportunities from Brexit, but officials say the damage will be limited. That's problematic for Ireland, "said Martin Shanahan, chief...

  • BUENOS AIRES, Sept 6- Argentina can go ahead with its plan to cut electricity subsidies, according to a Supreme Court ruling on Tuesday that bolstered President Mauricio Macri's fiscal tightening push despite opposition from recession-racked utility users. Plaintiffs in the suit included the official Ombudsman of Argentina's most populous province,...

  • MILAN/ BUENOS AIRES, Sept 1- Argentina is diverting or canceling incoming shipments of liquefied natural gas after mild late winter temperatures curbed fuel demand and forced state-run buyer Enarsa to rework some deals. Stubbornly high stock levels at Argentina's two import terminals, Bahia Blanca and Escobar, also mean there is no storage for more imports.

  • Argentina has fallen behind its mineral-rich neighbors Chile and Peru in mining investment, despite containing rich deposits of copper, gold, silver and zinc. The government plans to send its mining bill to Congress early next year, he added. Ricardo Martínez, head of Buenos Aires- based mining consultancy Viento Andino, said Peru and Chile are each expecting...

  • "That's something we are not so willing to grant," said Dardo Chiesa, president of Argentine Rural Confederation, one of the country's main farmers associations. Grains powerhouse Argentina is the world's No. 3 soybean exporter and top supplier of soymeal livestock feed. President Mauricio Macri was elected last year on promises of rejuvenating Argentina's...

  • Argentina's economic woes

    Argentina's unemployment rate rises since Mauricio Macri became the president of Argentina, CNBC's Seema Mody reports.

  • BUENOS AIRES, Aug 11- At a recent agricultural fair in Argentina, manufacturers of threshers, tractors and harvesting combines did so well that some encountered an unusual problem in an economy hit by recession and high inflation-- excess demand. Despite plenty of gloom about Argentina's economy, there are signs of green shoots in other areas of the economy as...

  • BUENOS AIRES, Aug 10- Things are looking up for Argentina's high-end real estate sector after it struggled for years under former President Cristina Fernandez's unorthodox economic policies, industry leaders told Reuters this week. Eduardo Costantini has made a name for himself in recent decades with luxurious residential mega-projects, such as the...

  • BUENOS AIRES, Aug 10- Argentina is making strides in opening up its economy to foreign investment after years of hostility to free enterprise but still has a way to go to catch up to some of its market friendlier neighbors, investors say. Foreign investment is crucial to President Mauricio Macri's efforts to remake Argentina's economy along less statist and...

  • BUENOS AIRES, Aug 10- Argentina is making strides in opening up its economy to foreign investment after years of hostility to free enterprise but still has a way to go to catch up to some of its market friendlier neighbors, investors say. Foreign investment is crucial to President Mauricio Macri's efforts to remake Argentina's economy along less statist and...