Wednesday
August 20, 2014

The economy minister was briefing reporters on the bill submitted by President Kirchner to Congress on Tuesday that seeks to change Argentina’s payment "location." US Judge Thomas Griesa is holding bondholders “hostages” to push for a solution benefiting hedge funds, Axel Kicillof said.

Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following President Kirchner’s decision to push a bill to change the payment jurisdiction to Buenos Aires, the cabinet chief pointed out that as a “sovereign country” Argentina cannot end up in contempt.

Cabinet Chief Jorge Capitanich stressed that by changing the debt’s jurisdiction to Buenos Aires the government seeks to protect restructured bondholders and pointed out that the fate of the u$s 539 millions deposited to restructured creditors in a Bank of New York (BoNY) account is to be determined by US District Judge Thomas Griesa, who has frozen the assets.

The Italian bondholders' legal representative Tullio Zembo praised the Sovereign Public Debt Payment Law pushed by the government saying the decision to change the debt’s jurisdiction to Buenos Aires is “probably the most appropiate.”

CFK tables bill to bring debt jurisdiction back home

Argentina wants to service the country’s debt in the country or allow bondholders to swap their bonds for new ones governed by national law in order to get around a US court order.

Cabinet Chief Jorge Capitanich, Foreign Minister Héctor Timerman and Ministry of Foreign Affairs Legal Adviser Susana Ruiz Cerrutti were addressing reporters this morning to discuss Argentina’s legal action against the US at the Hague over its dispute with holdout hedge funds.

Citigroup has told the US appeals court overseeing the dispute between Argentina and hedge funds refusing to accept terms of the country's debt restructuring that its Argentine banking license may be at risk as a result of the standoff.

Following the controversy sparked by his remarks calling for action on “foreign criminals”, Security Secretary Sergio Berni rejected that his comments were xenophobic and called for a “serious debate” on foreign national criminality rates.

• Berni calls to deport criminal foreigners

Industry Minister Débora Giorgi and Agriculture Minister Carlos Casamiquela met in Moscow with Russian authorities, seeking to increase Argentine exports, capitalising on the ban set by President Vladimir Putin on European and US agricultural goods in response to Western sanctions over the situation in Ukraine.

The employees of US-based autoparts company Lear went back to work, after the plant in General Pacheco, in Buenos Aires province, was paralysed for two weeks due to a labour protest.

Head of the CNV securities regulator Alejandro Vanoli explained that the anti-terrorism law will not be applied against printing firm RR Donnelley, as president Cristina Fernández de Kirchner had announced, and that economic crimes law will be enforced instead.

By Marc Champion

If Assange is seriously ill, he should of course be given medical attention, but beyond his health it is hard to feel much sympathy. His asylum ploy has been a two-year farce of his choosing.

Fifteen bodies have been recovered from the site of an artillery strike on a refugee bus convoy in east Ukraine, but further operations have been suspended due to renewed fighting in the area, a Ukrainian military spokesman said.

• Ukraine says rebels attack civilian convoy

The informal rate advanced 15 cents to 13.35 pesos, following the government’s proposal to change the debt’s jurisdiction from New York to Buenos Aires.

Islamic State militants have posted a video that purported to show the beheading of American journalist James Foley in revenge for US air strikes against the insurgents in Iraq.

• IS fighters resist Iraqi forces offensive

The Congressional debate over amendments to the Competition and Anti-Hoarding laws kicked off with a surprise last-minute change to the committees reviewing the package of bills and the announcement that a much more high-profile delegation from the Executive branch will be defending the government’s case before a new committee meeting today.

• 'They must stop political chicanery' • Bill seeks to 'limit' state intervention • G6 rejects Supply law as it ‘risks job creation’

US stocks were little changed today after two days of gains, ahead of the release of minutes from the most recent Federal Reserve meeting, as investors shrugged off bleak earnings forecasts from some retailers like Lowe's and Target.

The central and northern Argentine provinces will experience temperatures up to 35 °C until Saturday, when this week’s summer-like weather is expected to come to an end, the National Meteorological Service (SMN) has said.

US Attorney General Eric Holder was due to visit Ferguson, Missouri today, hours after nearly 50 protesters were arrested in an 11th night of racially charged demonstrations over the killing of an unarmed black teenager by a white police officer.

• At least 31 arrested in 'heavy gunfire'

By Francisco Aldaya

The country’s unemployment rate rose 0.3 percentage points to 7.5 percent in the second quarter compared to the same three months of 2013, government data showed yesterday.

Pontiff expresses ‘profound sadness’

Córdoba car crash kills three relatives of Pope Francis

The wife and two kids of Pope Francis’ nephew, Emanuel Bergoglio, were killed yesterday while his nephew was in serious condition, after their car crashed on a highway in Córdoba province. After hearing the news, the Pope expressed his “profound sadness” and pleaded to “all those who share in his pain to pray for him.”

Pope Francis was informed about the tragic road accident a nephew of his and his family suffered in Argentina, asking for prayers for his relatives.

An Israeli air strike in Gaza killed the wife and infant son of Hamas's military leader, Mohammed Deif, the group said, calling it an attempt to assassinate him after a ceasefire collapsed.

• Truce collapses, Israel orders talks home

Police came under "heavy gunfire" and 31 people were arrested, authorities said, during racially charged protests in Ferguson, Missouri sparked by the fatal shooting of an unarmed black teenager by a white policeman 10 days ago.

• National Guard deployed to Ferguson • Autopsy: Ferguson teen shot six times

New Argentina coach Gerardo Martino sprung no surprises as he named his first squad as head of the national team, picking the same players who reached the final of the World Cup last month for an upcoming friendly against winners Germany.

Argentina's Davis Cup tennis captain Martín Jaite has named his final squad for the international tournament, after announcing that he will step down after the World Group play-off with Israel in September.






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Sympathy vote for Marina

Patricio Navia

Sympathy vote for Marina

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Andrés Federman

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Eric Weil / Sportsworld

Wild soccer hooligans kill number 268



By Aaron Blake

Reasons why Sanders and four Democrats won’t take her on in the upcoming primary campaign.

By Luciana Bertoia

For two weeks, Argentines have been celebrating the recovery of Estela Barnes de Carlotto’s long-awaited grandson. But not everyone is so glad. A group of lawyers and supporters of military and civilians convicted for crimes against humanity committed in the last dictatorship gathered at a City hotel to criticize the ongoing trials in the country and in the region.

• World Trade

Abbey Sea wants 10% of local grain exported via Argentine-flagged ships

• On Sunday

Black and blue

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