BUENOS AIRES (Reuters) – Soaring labor and equipment costs and fierce price competition from Spain and Australia are challenging Argentine winemakers, but one of the country’s biggest producers, Casa Bianchi, sees revenue up this year after a major expansion.
Argentina is the world’s fifth-largest wine producer and family-owned Bianchi is Argentina’s sixth-largest winemaker in terms of local market share. The country exported $770 million worth of wine last year.
BUENOS AIRES (Reuters) – Argentina’s bad image with investors clashes with its strong economic fundamentals, but the president of Pegasus private equity fund said the country is poised to close its credibility gap and attract investment.
Pegasus is a 10-year-old Argentine private equity firm with $500 million invested, half in real estate and the other half in retailers such as Musimundo entertainment retailer, Freddo ice cream parlors and Farmacity pharmacy chain.
BUENOS AIRES/TOKYO, April 30 (Reuters) – Argentina on
Friday launched an offer to exchange new bonds and cash for
$18.3 billion in defaulted debt and said it would issue a new
$1 billion, seven-year global bond.
The swap of bonds left over from Argentina’s historic 2002
default is a bid to clear up the country’s reputation with
investors so it can raise new debt at a time of tight
BUENOS AIRES (Reuters) – A ferocious two-year battle between Argentina’s president and the country’s leading media empire has gone beyond tax raids and soccer broadcast squabbles to dredging up mud from the country’s dark past.
Government officials say the owner of Grupo Clarin may have adopted two babies stolen from murdered political prisoners during the 1976-1983 military dictatorship, and President Cristina Fernandez has urged courts to investigate.
BUENOS AIRES, April 7 (Reuters) – Some $100 million in
Argentine Central Bank deposits in New York can be seized to
pay two investment funds that sued Argentina over unpaid debt,
a U.S. federal judge ruled on Wednesday.
The Argentine funds held in the U.S. Federal Reserve Bank
in New York have been frozen since 2006, but another judge
delayed their attachment pending an investigation into whether
the Central Bank could be considered part of the Argentine
ROME/BUENOS AIRES, March 23 (Reuters) – Argentina said on
Tuesday that its offer to restructure up to $20 billion in
defaulted debt hinged on the sale of a new $1 billion
seven-year global bond to raise fresh cash.
Argentina’s government is trying to clean up defaulted
bonds so that it can return to international markets for the
first time since its historic default around the start of 2002
and raise money as it faces tight financing this year.
BUENOS AIRES, Feb 7 (Reuters) – Former Argentine President
Nestor Kirchner, husband of President Cristina Fernandez and a
prominent political player, underwent successful emergency
surgery on his carotid artery on Sunday, officials said.
Kirchner, 59, was sworn in as a member of Congress in the
lower house in December and is widely expected to run for
president again in 2011, even though his wife’s approval
ratings have dropped to around 20 percent.
BUENOS AIRES (Reuters) – An Argentine political conflict over using Central Bank reserves to pay debt deepened on Friday when a judge temporarily blocked President Cristina Fernandez’s plan to tap the reserves.
Judge Maria Jose Sarmiento issued an injunction, a court source told Reuters, after opposition leaders filed a legal challenge to Fernandez’s order for the Central Bank to hand $6.6 billion in foreign currency reserves to the treasury.
BUENOS AIRES (Reuters) – Argentine President Cristina Fernandez tried to force out the country’s central bank chief on Wednesday in a dispute over using billions of dollars in foreign currency reserves to pay rising debt obligations.
Martin Redrado, who refused to step down and said only Congress can remove him, has balked at handing over $6.6 billion in reserves despite a presidential order to use them to service debt at a time of a rising fiscal deficit.
BUENOS AIRES, Jan 6 (Reuters) – Argentine President
Cristina Fernandez asked Central Bank President Martin Redrado
to resign on Wednesday, but he resisted, in a political
confrontation over how to pay rising debt obligations.
Redrado has refused to quickly hand over $6.5 billion of
the country’s foreign currency reserves, three weeks after the
president ordered him to do so to use the funds to make debt
payments at a time of a rising fiscal deficit.