News of finance

Court halts transformation of Banco Nación into limited company

26-02-2025 18:06 Judge suspends implementation of decree from President Javier Milei seeking to transform state-owned Banco Nación into a limited company.

SHOCK THERAPY

Milei’s strong peso revives domestic football with million-dollar contracts

25-02-2025 15:35 President’s peso policy has domestic clubs spending big; More than two dozen players now make US$1 million or more a year.

BUSINESS & MARKETS

MercadoLibre shares rally after record quarter of profit

20-02-2025 23:55 MercadoLibre stock jumped as much as 14% in after-hours trading after Latin American e-commerce and fintech giant’s profit far surpassed estimates.

TOURISM & TRAVEL

Argentina’s rich neighbours cut back on visits due to strong peso

28-01-2025 09:38 Tourists visiting from Uruguay and Chile fell at least 30% in December from a year ago, according to INDEC.

FINANCE & BUSINESS

Nubank is taking new look at Argentina under Milei, CEO says

23-10-2024 12:13 Nubank “will watch” Argentina over the next 12 months, and is “taking a new look” at the country under President Javier Milei, says Chief Executive Officer David Vélez.

Economy & World

Rio Tinto expands lithium bet with biggest deal since 2007

09-10-2024 14:15 Rio Tinto Group has agreed to purchase Arcadium Lithium Plc in an all-cash deal valuing the US-listed miner at US$6.7 billion.

ENERGY & GAS

Bolivia natural gas shortage sends economy teetering

09-10-2024 13:57 Bolivia's once powerful natural gas industry is now on the verge of collapse as a result of a lack of investment and maintenance. The fall of the state-supported industry has sent shockwaves through Bolivia's economy.

Economy

Rio Tinto makes approach to buy lithium producer Arcadium

07-10-2024 07:57 Rio Tinto group, world’s second-largest miner, makes preliminary move to acquire Arcadium Lithium, producers with operations in Argentina, China, Canada and Australia.

AGRICULTURE & ECONOMY

Global food prices risk spiking on worst-ever drought in Brazil

06-10-2024 09:47 The worst drought in Brazil’s history is jeopardising coffee, sugar and soybean crops. Dead vegetation is giving way to fires, sending greenhouse gases into the atmosphere and disappearing more of the Amazon rainforest.

Politics & Economy

Leftist Uruguay presidential candidate pledges to achieve primary fiscal surplus

25-09-2024 18:12 Uruguay’s leading presidential candidate, Yamandu Orsi of the opposition Frente Amplio coalition, says he will aim for primary fiscal surplus by the end of his term if he wins the October election.

POLITICS, COURTS & ECONOMY

National, City government agrees federal revenue-sharing deal

19-09-2024 00:27 After lengthy court battle over ‘coparticipación’ federal revenue-sharing funds, President Javier Milei’s government and City Hall agrees deal to deliver 2.95 percent in daily and weekly payments.

THE BUSINESS OF SPORT

Top firms in Argentina backing F1 rookie Franco Colapinto

10-09-2024 11:41 Franco Colapinto, the rookie making his way in Formula 1 with Williams Racing, is supported by some of Argentina’s largest companies, including Globant, YPF, Quilmes, Flybondi, Bigbox and Celulosa Argentina.

Cryptocurrencies

Venezuela crypto remittances skyrocket as migration crisis worsens

24-07-2024 21:11 Amount transmitted via crypto in Venezuela likely reached a record 9%of all the money sent home last year, according to data from blockchain analysis firm Chainalysis.

by María Paula Mijares Torres, Bloomberg

BANKS PROBED

Argentina questions three banks on puts, bond transactions

13-05-2024 20:36 Argentina’s Central Bank and regulators are looking into at least three of the nation’s banks – Galicia, BBVA, Banco Supervielle – for potential irregularities in transactions with government bonds and put options.

GEOPOLITICS & DIPLOMACY

Brazil urges 'new globalisation' at G20 meet overshadowed by Ukraine

29-02-2024 11:20 Brazil called for a "new globalisation" to address poverty and climate change as finance ministers from the world's top economies met Wednesday, but the Ukraine and Gaza wars risked overshadowing the plea.

GEOPOLITICS & DIPLOMACY

G20 finance ministers meet on world economy hit by crises, conflicts

28-02-2024 12:55 G20 finance ministers will meet Wednesday in Brazil, seeking ways to shore up a global economy whose nascent recovery is threatened by a raft of conflicts and crises, including the wars in Ukraine and Gaza.

MILEI’S GOVERNMENT

Luis ‘Toto’ Caputo returns to fore with unenviable task

30-11-2023 14:54 President-elect Javier Milei confirms that Macri-era finance chief will be tasked with leading Argentina’s economy out of the doldrums and “defusing the bomb that the government is leaving behind.”

POLITICS & ECONOMY

Wall Street cheers as Milei swaps dollarisation for Macri brass

24-11-2023 13:07 Javier Milei pivots away from advisers advocating for his most dramatic campaign promises, choosing Wall Street veterans closer to Mauricio Macri.

INTERVIEW

Latin America bank eyes finance 'umbrella' role for Amazon rainforest

20-06-2023 15:51 Inter-American Development Bank wants to play a central role as an "umbrella" organisation coordinating climate-related projects in the vulnerable rainforest, says new chief Ilan Goldfajni.

BEIJING & BUENOS AIRES

Argentina renews China currency swap deal to strengthen reserves

02-06-2023 16:39 Government renews three-year currency swap line with China in bid to boost Central Bank reserves.

BRAZILIAN ECONOMY

Brazil 'finfluencers' bring finance to the favelas

17-05-2023 15:05 So-called 'finfluencers,' or financial influencers, are going viral in Brazil, delivering financial education to the masses in a country known for its gaping inequalities.