Noticias de Business
Argentina’s Merval Unchanged In Light Trading
BUENOS AIRES (Dow Jones)–Argentina’s Merval stock index was unchanged Tuesday as it closed at 2691.98 in volume totaling almost ARS41 million ($9.4 million). The power distributor Edenor (EDN.BA) led the gains, rising almost 4.2% to ARS1. Edenor was up despite a recent report by J.P. Morgan that questioned the company’s financial future. “Edenor is facing [...]
Rio Negro terminates YPF oil exploitation contract
Río Negro announced it would terminate an YPF exploitation contract in Los Caldenes area, following a meeting between Federal Organization of Hydrocarbon Producer States on Tuesday. The decision was made following ‘a meticulous revision of the documentation provided by the oil company’, a press release stated, indicating that the main reason behind it was the [...]
Argentina Aims To ‘Regain Control Of YPF’ By Winter -Report
Argentina’s government aims to “regain control” of the country’s biggest oil and gas company, YPF SA (YPF, YPFD.BA), by winter, the newspaper Pagina 12 reported Sunday. YPF, which is majority-owned by Spain’s Repsol YPF SA (REPYY, REP.MC), was a state-run company until 1999, when it was privatized. “Before the cold weather arrives, the government aims [...]
IMF confirms plans to close Buenos Aires office
The International Monetary Fund (IMF) will close its Buenos Aires office in protest to Domestic Trade Secretary Guillermo Moreno’s decision to accuse the organization in court, urging it to explain how it calculates Argentina’s inflation rate, sources said. Last year, Moreno filed a motion in court against the IMF, for which judge Alejandro Catania asked [...]
Chubut, Santa Cruz provinces terminate YPF oil contracts in four wells
The Governments of Chubut and Santa Cruz announced the termination of the contract of exploitation of four different oil wells that YPF handles in the Gulf San Jorge and that both provinces share. The oil giant has announced it will file a lawsuit against the measure. The measure was taken by decree, according to Government [...]
Argentina says energy firms must put price cap on jet fuel
BUENOS AIRES, March 12 (Reuters) – Argentina ordered oil companies YPF, Royal Dutch Shell and Esso to put a price cap on jet fuel charged to airlines that own airplanes registered in the country, the state news agency said on Monday. The decision is seen benefiting LAN Argentina, a branch of Chile’s LAN Airlines and [...]
Argentina’s Stocks Slip, Bonds Mixed; Merval Index -0.9%
BUENOS AIRES (Dow Jones)–Argentina’s stocks closed lower Monday on declines in energy and financial shares, while benchmark bonds were mixed in uneven trading. The benchmark Merval equity index fell 0.9%, to 2642.21, on volume of 50.1 million pesos ($11.5 million). The Global X FTSE Argentina 20 ETF, which tracks shares of Argentine companies listed on [...]
Argentina’s Grupo Clarin Forecasts 18% Sales Growth In 2012
BUENOS AIRES (Dow Jones)–Argentina’s largest multi-media company Grupo Clarin SA (GCLA.BA) said Monday that it expects its sales to increase about 18% this year, well below last year’s growth rate. Speaking on a conference call with analysts, Clarin investor relations officer Alfredo Marin also forecast 15% growth in earnings before interest, taxes, depreciation and amortization, [...]
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