Brazil’s far-right president, Jair Bolsonaro, appointed an Army reserve general to lead state-owned energy giant Petrobras, after criticising several successive increases in the price of fuel. “The government decided to appoint Joaquim Silva e Luna to fulfill a new mission, as… president of Petrobras, after closing the cycle, exceeding two years, of the current president … Read more
Argentine banks took a beating last year, and the nation’s biggest lender says the industry is at risk of a repeat performance. While bad loans and government regulations were the main culprits in 2020, rising inflation will be added to the list this year, according to Fabián Kon, chief executive officer of Banco Galicia, Argentina’s … Read more
After delaying 14 months (largely due to the coronavirus pandemic but also procrastination), the Alberto Fernández presidency is now poised to deliver on its campaign promise of multi-sector (although not multi-party) negotiations aiming at a macro-economic consensus based on a wage-price agreement. Optimists hope that this might produce something approximating the plan demanded by the … Read more
Nicolás Aguzin, the head of JP Morgan’s international private banking division, will be the Hong Kong Stock Exchange’s new chief executive, the bourse announced Tuesday. The Argentine-born banker will take up his post in May, at a time when Beijing is clashing with Western powers over its campaign to stamp out dissent in the financial … Read more
Argentina’s state-owned oil company, YPF SA, said Thursday it had swapped almost 60 percent of a key bond due in March, saving the company millions of dollars in debt payments and avoiding a costly default next month. Holders of a total 59.8 percent of a US$ 413-million bond due in March said they would exchange … Read more