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☆ Argentina's shock peso devaluation weighs on sportswear brand Puma
▼ + stars: | 2024-01-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

German sports retailer Puma on Wednesday said Argentina's major devaluation of its currency in December hit its financial results. Full-year currency-adjusted sales growth was estimated at 6.6%, versus an outlook for high single-digit growth, with sales of around 8.6 million euros ($9.37 million). Earnings before interest and taxes (EBIT) came in at around 622 million euros. The impact was particularly pronounced in the fourth quarter, where "the application of hyperinflationary accounting led to a sales decline," Puma said in the results. However, the consensus does not take negative effects from the extraordinary devaluation of the Argentine peso into account," it added.

Persons: Puma Organizations: Puma, Argentine Locations: London

People attend the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 18, 2024. Javier MileiArgentina's President Javier Milei delivers a speech at the World Economic Forum (WEF) meeting in Davos on January 17, 2024. Sam AltmanSam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. He said AGI could be developed in the "reasonably close-ish future," speaking at a private gathering at the Bloomberg House in Davos, Switzerland. AI took a huge leap forward in the last year or two years," Benioff said on a World Economic Forum panel Thursday.

Persons: Denis Balibouse, Donald Trump, Ursula von der, Ursula von der Leyen, Jamie Dimon Jamie Dimon, JPMorgan, Adam Galici, Jamie Dimon, Dimon, Larry Fink's, bitcoin, Volodymyr Zelenskyy, CNBC's Andrew Ross Sorkin, Vladimir Putin, Zelenskyy, Putin, Javier Milei, Fabrice COFFRINI, FABRICE COFFRINI, Fabrice Coffrini, Milei, Adena Friedman Adena Friedman, Adena Friedman, Friedman, Sam Altman Sam Altman, Sam Altman, Altman, Antony Blinken Antony Blinken, CNBC Putin, Antony Blinken, Blinken, Trump's, it's, Christine Lagarde, Emmanuel Macron, Macron, Dmytro Kuleba, Arnd Wiegmann, Trump, Vladimir, Ukraine's, Kuleba, Michelle Yeoh Michelle Yeoh, Mike Coppola, Michelle Yeoh, CNBC's Tania Bryer, Yeoh, Pedro Sanchez Spanish, Pedro Sanchez, Isabel Infantes, Sanchez, Li Qiang Li Qiang, Li Qiang, Li, Isaac Herzog, Kfir Bibas, Herzog, Kfir, Hossein Amir, Abdollahian, Atta Kenare, Joe, Biden, Netanyahu, Amir, Sergio Ermotti, MICHAEL BUHOLZER, Ermotti, Marc Benioff Marc Benioff, Salesforce, CNBC's Sara Eisen, Marc Benioff, Benioff, Ray Dalio Ray Dalio, Bridgewater, Ray Dalio, Dalio, Mark Carney Mark Carney, DANIEL LEAL Organizations: Economic, Reuters, European, JPMorgan Chase, CNBC, BlackRock, Getty, Afp, NASDAQ, CNBC Nasdaq, Reuters OpenAI, Bloomberg, State, European Central Bank, Central Bank, Reuters Ukraine's, United Nations Development, Spanish, Getty Images, Hamas, Palestinian, Hezbollah, Turkish, AFP, Iranian, Sergio Ermotti UBS, Getty Images UBS, Credit Suisse, Bridgewater Associates, U.S, Bank of England, UN, OLIVAS Locations: Davos, Switzerland, Ukraine, Gaza, Russia, China, Moscow, WEF, AFP, OpenAI, U.S, Russian, Iran, Europe, United States, Hollywood , California, Madrid, Spain, Beijing, Washington, Lebanese, Tehran, Israel, Hiroshima

☆ A guy just signed a contract to rent an apartment using bitcoin, likely a world first
▼ + stars: | 2024-01-17 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +2 min

A landlord and tenant in Argentina signed the country's first-ever bitcoin-based rental contract. New regulation in Argentina allows bitcoin to be used as a valid currency in contracts. AdvertisementArgentina's and possibly the world's first-ever bitcoin-based rental contract has been signed, according to a report, marking a major milestone for crypto adoption. AdvertisementThe payments will be made via the Fiwind platform, which both parties are active members of, the company told Paginal12. A company spokesperson told Paginal12 that it is the first agreement of its kind, "at least in Argentina."

Persons: —, Argentina's, Paginal12, Florencia Feldman, it's, Javier Milei, Argentinians, cryptocurrencies Organizations: Service, SEC Locations: Argentina, Rosario, bitcoin

☆ ‘The Western world is in danger’: Argentina’s Milei, a self-described ‘anarcho-capitalist,’ urges Davos elite to reject socialism
▼ + stars: | 2024-01-17 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Argentina's President Javier Milei delivers a speech at the World Economic Forum (WEF) meeting in Davos on January 17, 2024. "Today, I'm here to tell you that the Western world is in danger," Milei said in a special address at the World Economic Forum in Davos, Switzerland, according to a translation. "Rebuilding Trust" is the overarching theme of the annual WEF meeting. WEF founder Klaus Schwab introduced Milei to the stage in Davos by saying his "more radical methods" had "introduced a new spirit to Argentina." "The main leaders of the Western world have abandoned the model of freedom for different versions of what we call collectivism.

Persons: Javier Milei, Fabrice COFFRINI, FABRICE COFFRINI, Milei, Donald Trump, WEF, Klaus Schwab Organizations: Economic, Getty, Reuters Locations: Davos, AFP, Switzerland, Swiss, Argentina

DAVOS, Switzerland (AP) — The top diplomats of Iran and the United States sit down for public — and separate — one-on-one chats while the U.N. chief and leaders of France, Argentina and Spain will deliver speeches as the World Economic Forum's annual meeting saunters into a busy second day on Wednesday. U.S. Secretary of State Antony Blinken, after a day of meetings Monday including one with Ukrainian President Volodymyr Zelenskyy, is on tap for a broadcast conversation with New York Times columnist Tom Friedman. Iranian Foreign Minister Hossein Amirabdollahian will speak with CNN's Fareed Zakaria. It came hours after one missile strike earlier Tuesday hit a U.S. vessel. “Please, strengthen our economy, and we will strengthen your security,” the Ukrainian leader said.

Persons: Antonio Guterres, Antony Blinken, Volodymyr Zelenskyy, Tom Friedman, Hossein Amirabdollahian, CNN's Fareed Zakaria, Emmanuel Macron, Pedro Sanchez, —, Javier Milei —, Guterres, Zelenskyy, Vladimir Putin Organizations: Ukrainian, New York Times, Iranian, Spanish Locations: DAVOS, Switzerland, Iran, United States, France, Argentina, Spain, Swiss, Davos, U.N, East, North Africa, U.S, Yemen, Gaza, Palestinian, Israel, Ukraine

DAVOS, Switzerland (AP) — The Earth is heating up, as is conflict in the Middle East. They'll be among more than 2,800 attendees, which also include academics, artists and international organization leaders. OpenAI chief Sam Altman will be in Davos along with top executives from Microsoft, which helped bankroll his company's rise. TRYING AGAIN TO SAVE THE PLANETOf all the lofty hopes in Davos, the perennial one of late has been the search for creative and promising ways to fight climate change. “Davos is a powerful combination potentially, of a lot of concern about the environment, and a lot of high-powered finance present,” she said.

Persons: Isaac Herzog, Volodymyr Zelenskyy, They'll, Bronwen Maddox, Israel's, Herzog, Benjamin Netanyahu's, ”, Sam Altman, Vladimir Putin, Li Qiang, Ursula von der Leyen, Joe Biden's, Jake Sullivan, Emmanuel Macron, Antony Blinken, Javier Milei, Donald Trump —, Biden, John Kerry, Chatham House's Maddox Organizations: Young Swiss Socialists, Chatham House, Intelligence, Microsoft, European Commission, Chatham, “ Locations: DAVOS, Switzerland, Russia, Davos, Chatham, Gaza, Yemen, Qatar, Jordan, Lebanon, China, U.S, Dubai, “ Davos

☆ Venezuela Economy Grew 5% in 2023, Will Reach 8% This Year-Maduro
▼ + stars: | 2024-01-15 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

By Mayela ArmasCARACAS (Reuters) - Venezuela's economy grew more than 5% in 2023 and growth will reach 8% this year, President Nicolas Maduro said on Monday during his annual address to the government-allied legislature. Inflation reached just under 190% last year, according to the central bank, marking an easing from 234% the year before. "In 2024 we will continue the policy of stoking national production, of recovering national income, of recovering income for workers," Maduro told lawmakers. Oil income has previously been battered by low production due to deteriorated infrastructure and lack of investment. A date for the election has not been set, but it is expected in the second half of the year.

Persons: Mayela Armas, Nicolas Maduro, Maduro, PDVSA, Joe Biden, Julia Symmes Cobb, Deisy Buitrago Organizations: Mayela Armas CARACAS, Reuters, United Locations: State, U.S, United States

Pope Francis said Sunday that if he can, he'll visit his native Argentina in the latter part of 2024, a trip that would see him there for the first time in his nearly 11-year-old papacy and while his fellow Argentines are suffering economically. Francis hasn't been back to his homeland since he was elected pope in 2013. Political Cartoons View All 253 ImagesFrancis has long been dogged by questions about why he hasn't gone home since he became pope. The pope, who had a long conversation with Milei after he won, has indicated he has forgiven him for the campaign rhetoric. “I'd like to go,'' the pope added, making a reference to the ”10 years" since he has been away.

Persons: Pope Francis, he'll, Francis hasn't, Francis, ”, Javier Milei, hasn't, Milei, “ Organizations: Sunday, Argentine Locations: Argentina, Italian, Polynesia, Argentine

☆ Latin America Must Invest up to 4.9% of GDP Annually to Meet Climate Goals -UN
▼ + stars: | 2023-12-04 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +1 min

MEXICO CITY (Reuters) - Latin America and the Caribbean need to rapidly boost spending to up to 4.9% of gross domestic product (GDP) annually by 2030 to meet their climate targets, a United Nations agency said in a report on Monday. The Economic Commission for Latin America and the Caribbean (ECLAC) report presented at Dubai's COP28 summit said the region must spend between 3.7% to 4.9% of GDP annually, up from just 0.5% in 2020, amounting to total investments of $2.1 trillion to $2.8 trillion by 2030. This implies the "availability of substantial but not unattainable amounts - and the time to act is now," ECLAC Executive Secretary Jose Manuel Salazar-Xirinachs said. Climate mitigation - mostly projects around transportation as well as energy, infrastructure and deforestation - would take up the lion's share of spending, ECLAC said, while a remaining third would need to go toward adaptation methods. Climate change - excluding the impacts of extreme phenomena - could strip 10% off labor productivity in some countries, it added, cutting potential for economic growth.

Persons: Jose Manuel Salazar, Xirinachs, ECLAC, Salazar, Marion Giraldo, Sarah Morland, Sandra Maler Organizations: MEXICO CITY, United, Economic Commission, Latin Locations: MEXICO, America, Caribbean, United Nations, Latin America, Uruguay, Brazil, Argentina, South America's Parana, La Plata, Chile

"Given the transition in Argentina, we are handing the subject to the new government, which has indicated they want a deal," the Brazilian foreign ministry spokesman said. A European official with knowledge of the talks said Argentina was no longer open to finalizing the deal on Mercosur. Argentine negotiators who were due to travel to Brasilia for final push to close the deal canceled their trip, a Brazilian government trade official told Reuters. Officials wanted to wrap up agreements before Argentina's Milei takes office on Dec. 10, as he has criticized the trade deal that took two decades to negotiate. Argentina's incoming foreign minister, Diana Mondino, said it was important to sign the EU-Mercosur accord after she visited Brasilia last Sunday to meet Brazil's foreign minister.

Persons: Javier Milei, Milei, Diana Mondino, Anthony Boadle, Marcela Ayres, Lisandra, Matthew Lewis Organizations: European Union, Mercosur, Argentine, Reuters, EU, Milei, Diplomats, Thomson Locations: BRASILIA, Argentina, Mercosur, Brasilia, American, Brazil, Argentine, Belen, Madrid, Jorgelina, Rosario, Buenos Aires

☆ EU-Mercosur Deal's Future up to New Argentina Government -Sources
▼ + stars: | 2023-12-02 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +3 min

Persons: Anthony Boadle BRASILIA, Javier Milei, Milei, Diana Mondino, Anthony Boadle, Marcela Ayres, Lisandra, Matthew Lewis Organizations: Reuters, European Union, Mercosur, Argentine, EU, Milei, Diplomats Locations: Argentina, Mercosur, Brasilia, American, Brazil, Argentine, Belen, Madrid, Jorgelina, Rosario, Buenos Aires

☆ Argentina's incoming foreign minister says country will not join BRICS bloc
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: 1 min

BUENOS AIRES, Nov 30 (Reuters) - Argentina's incoming Foreign Minister Diana Mondino says the country will not join the BRICS grouping of developing nations in a post on social media X on Thursday. Argentina was among six countries invited to become new members of the BRICS at a summit held in South Africa in August, part of the grouping's push to reshuffle a Western-dominated world order it sees as outdated. Reporting by Adam Jourdan, Writing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

Persons: Diana Mondino, Adam Jourdan, Isabel Woodford Organizations: Thomson Locations: BUENOS AIRES, Argentina, South Africa

☆ Henry Kissinger, American diplomat and Nobel winner, dead at 100
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +10 min

Former U.S. Secretary of State Henry Kissinger speaks at the International Economic Forum of the Americas/Conference of Montreal in 2008. U.S. President Richard Nixon and National Security Adviser Henry Kissinger stand on Air Force One during their voyage to China February 20, 1972. U.S. President Gerald Ford meets with Secretary Kissinger at Camp David, U.S., July 5, 1975. In 1973, in addition to his role as national security adviser, Kissinger was named secretary of state - giving him unchallenged authority in foreign affairs. But Ford did replace him as national security adviser in an effort to hear more voices on foreign policy.

Persons: Henry Kissinger, Shaun Best, Kissinger, Richard Nixon, Xi Jinping, Nixon's, Gerald Ford, Duc Tho, Gerald R, Ford, Henry, Heinz Alfred Kissinger, Anglicizing, Lyndon Johnson's, Nixon, Nelson A . Rockefeller, Henry A, Roosevelt, Premier Zhou Enlai, Mao Zedong, China Winston Lord, Leonid Brezhnev, Brezhnev, Gromyko, Dobrynin, Salvador Allende, Jimmy Carter, Ronald Reagan, George W, Bush, Ann Fleischer, Nancy Maginnes, New York Governor Nelson Rockefeller, Abinaya, Sandra Maler Organizations: U.S, International Economic, Americas, Conference of, REUTERS, Kissinger Associates, New York City . U.S, National Security, Air Force, Richard Nixon Presidential, REUTERS Acquire, House, Republican, Paris Peace, Camp David, Ford Library, HARVARD, Nazi, Army, Harvard University, State Department, Office, White, Communist, Premier, Former U.S, Reuters, Ford, Soviet, CIA, Democrat, New York Governor, Thomson Locations: Conference of Montreal, Connecticut, New York City ., China, North Korea, Beijing, U.S, Israel, Paris, North Vietnam, America, North, Cambodia . U.S, Camp, Washington and New York, Voluble, Furth, Germany, United States, Europe, Vietnam, South Vietnam, Washington DC, Cambodia, Jerusalem, Damascus, Syria, Golan, Vladivostok, Soviet Union, Russian, Russia, Egypt, Sinai, India, Pakistan, Washington, New York, Bengaluru

WASHINGTON, Nov 30 (Reuters) - Henry Kissinger, the most powerful U.S. diplomat of the Cold War era, who helped Washington open up to China, forge arms control deals with the Soviet Union and end the Vietnam War, but who was reviled by critics over human rights, has died aged 100. While many hailed Kissinger for his brilliance and statesmanship, others branded him a war criminal for his support for anti-communist dictatorships, especially in Latin America. Kissinger won the 1973 Nobel Peace Prize for ending U.S. involvement in the Vietnam War, but it was one of the most controversial ever. When Nixon's pledge to end the Vietnam War helped him win the 1968 presidential election, he brought in Kissinger as national security adviser. And in the India-Pakistan War of 1971, Nixon and Kissinger drew heavy criticism for tilting toward Pakistan.

Persons: Henry Kissinger, Kissinger, Richard Nixon, Nixon's, Gerald Ford, Joe Biden's, John Kirby, Biden, Le Duc Tho, Vladimir Putin, Benjamin Netanyahu, Abdul Momen, Kissinger's, Momen, Ford, Henry, Antony Blinken, Lloyd Austin, Heinz Alfred Kissinger, Egon Bahr, Fabrizio Bensch, Lyndon, Nixon, Premier Zhou Enlai, Mao Zedong, China Winston Lord, Leonid Brezhnev, Salvador Allende, Jimmy Carter, Ronald Reagan, George W, Bush, Xi Jinping, Ann Fleischer, Nancy Maginnes, New York Governor Nelson Rockefeller, Steve Holland, Arshad Mohammed, Dan Whitcomb, Don Durfee, Kanishka Singh, David Brunnstrom, Trevor Hunnicutt, Jarrett Renshaw, Bill Trott, Diane Craft, Rosalba O'Brien, Tomasz Janowski, Frances Kerry, Jonathan Oatis Organizations: Jewish, Kissinger Associates, Arlington National, Republican, Paris Peace, Democratic, U.S, HARVARD, Nazi, Social Democratic, Mary's, REUTERS, Army, Harvard University, State Department, Paris Peace Accords, Communist, Premier, Former U.S, Ford, CIA, Democrat, House, New York Governor, Thomson Locations: U.S, Washington, China, Soviet Union, Vietnam, German, Connecticut, New York, Arlington, Israel, Paris, North Vietnam, America, Cambodia, North Vietnamese, Beijing, Russian, statesmanship, West, East Pakistan, Bangladesh, Fuerth, Germany, United States, St, Berlin, Europe, Jerusalem, Damascus, Syria, Golan, Vladivostok, Egypt, Sinai, India, Pakistan, Saint Paul , Minnesota, Long Beach , California

☆ Argentina's Milei taps ex-central banker Caputo to fix economy in crisis
▼ + stars: | 2023-11-29 | by ( Jorgelina Do Rosario | Thomson Reuters | Jorgelina Do Rosario Is Emerging Markets Correspondent At Reuters Based In London | ) www.reuters.com time to read: +2 min

Former governor of Argentina's central bank, Luis Caputo, speaks alongside Economy Minister Nicolas Dujovne during a news conference in Buenos Aires, Argentina May 4, 2018. REUTERS/Marcos Brindicci/File Photo Acquire Licensing RightsBUENOS AIRES, Nov 29 (Reuters) - Argentina President-elect Javier Milei will appoint Luis Caputo as his economy minister, he said in a radio interview on Wednesday in Buenos Aires, after a two-day trip to the United States. "The minister of economy will be Luis Caputo," Milei told Radio La Red, although his office has yet to officially confirm the nomination. This will not be the first time for Caputo, a former Wall Street banker, as a government official. The economist was later appointed as central bank governor in 2018.

Persons: Luis Caputo, Nicolas Dujovne, Marcos Brindicci, Javier Milei, Caputo, Milei, elect's, Mauricio Macri's, Jorgelina, Adam Jourdan, Bernadette Baum, Mark Porter Organizations: REUTERS, Radio La, Monetary Fund, Wall Street, IMF, Thomson Locations: Argentina's, Buenos Aires, Argentina, BUENOS AIRES, United States, dollarizing Argentina, Milei, Washington, Rosario

Argentine President-elect Javier Milei departs the Eisenhower Executive Office Building after meeting with Biden administration staff at the White House complex in Washington, U.S., November 28, 2023. His foreign policy, meanwhile, is unabashedly pro-United States and pro-Israel, with a cooler stance on top trade partners Brazil and China. 2 Gita Gopinath and other fund officials, the fund said separately. The IMF has said in the past that dollarization is not a substitute for sound macroeconomic policy. Milei and IMF officials had a first virtual meeting on Friday, which Georgieva called a "very constructive engagement".

Persons: Javier Milei, Kevin Lamarque, Milei, Jake Sullivan, Juan Gonzalez, Benjamin Gedan, Alberto Fernandez, Vladimir Putin, Kristalina Georgieva, Posse, Luis Caputo, Gita Gopinath, Georgieva, Jason Lange, Rodrigo Campos, Rosalba O'Brien, Christopher Cushing Organizations: Argentine, Biden, REUTERS, Rights, U.S, White, National Security, Western, United, Israel, America, Wilson, International Monetary Fund, IMF, Reuters, Thomson Locations: Washington , U.S, Washington, Argentina, United States, Brazil, China, U.S, Moscow, Ukraine, Beijing, Argentine, New York

☆ Argentina's Milei to meet Biden aide after lunch with Bill Clinton
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 27 (Reuters) - Argentina's President-elect Javier Milei will meet with a top security aide to U.S. President Joe Biden in Washington, the White House confirmed on Monday, after the far-right libertarian lunched with former U.S. President Bill Clinton in New York. Upon arriving in the United States, Milei first visited the tomb of a well-known orthodox Jewish rabbi before having lunch with Clinton, according to a statement from the president-elect's office. On Tuesday, Milei will meet with U.S. National Security Adviser Jake Sullivan, while his economic advisers are scheduled to meet with senior U.S. finance officials to discuss the president-elect's economic priorities. Argentina is the IMF's largest debtor nation as it struggles to tame inflation approaching 150%. Milei will take office on Dec. 10 at a time when over two-fifths of Argentina's population is in poverty and a recession looms for South America's second-largest economy.

Persons: Javier Milei, Joe Biden, Bill Clinton, Milei, Luis Caputo, Karina Milei, Clinton, Jake Sullivan, Donald Trump, Jarrett Renshaw, David Lawder, Jorge Otoala, Brendan O'Boyle, David Alire Garcia, Simon Cameron, Moore Organizations: White House, U.S, Democrat, Argentine, U.S . National, International Monetary Fund, Reuters, Thomson Locations: Washington, New York, Milei, New Jersey, United States, Argentina, Buenos Aires

WASHINGTON (AP) — Argentina's right-wing President-elect Javier Milei will meet with President Joe Biden's national security adviser on Tuesday in Washington, according to the White House. National Security Council spokesman John Kirby told reporters on Monday that Milei will meet with White House national security adviser Jake Sullivan and other administration officials. The Treasury Department said in a statement that Milei's economic policy advisers will also meet with senior Treasury Officials on Tuesday. That meeting is expected to focus on the incoming Milei administration's economic policy priorities. Argentina’s president-elect has said he wants to move Argentina’s embassy in Israel from Tel Aviv to Jerusalem, emulating a move made by Trump.

Persons: —, Javier Milei, Joe Biden's, John Kirby, Milei, Jake Sullivan, Biden, Rosalynn Carter, ” Kirby, Donald Trump, Trump, ” Milei, Menachem Mendel Schneerson, Schneerson, he’s, hasn’t, “, Israel, ” ___ Politi, Fatima Hussein, Chris Megerian Organizations: WASHINGTON, House . National Security, White House, Milei, Treasury Department, International Monetary Fund, Lubavitch, Catholic, Israel, Trump, Associated Press Locations: Washington, Georgia, Colorado, Argentina, United States, New York City, Kirby, New York, Queens, Israel, Tel Aviv, Jerusalem, Buenos Aires

☆ Argentina's Milei invites Brazil's Lula to inauguration, travels to US
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +3 min

Last week Milei, who travels to the United States on Sunday, had already softened his tone with China's communist leadership, thanking President Xi Jinping for a letter congratulating him. "I hope that our mutual time as presidents will be a stage for fruitful work and the construction of ties that consolidate the role Argentina and Brazil can and must fulfill in the concert of nations," Milei told Lula. The letter was delivered by his top foreign policy adviser, Diana Mondino, to Brazil's Foreign Relations Minister Mauro Vieira at a meeting in Brasilia. The new Argentine leader is closer politically and personally to former Brazilian President Jair Bolsonaro and has invited him to his inauguration. Milei meanwhile was set to travel to the U.S. on Sunday, a spokesperson told Reuters, noting he would attend a religious ceremony in New York and have meetings in Washington.

Persons: Javier Milei, Brazil's, Luiz Inacio Lula da Silva, Milei, Lula, Xi Jinping, Diana Mondino, Mauro Vieira, Jair Bolsonaro, Bolsonaro, Mondino, Vieira, Karina, Kristalina Georgieva, Gabriel Araujo, Lisandra, Jorge Otaola, David Gregorio, Stephen Coates Organizations: SAO PAULO, Foreign, Argentine, White, U.S . Treasury, International Monetary Fund, dollarizing, IMF, Thomson Locations: BRASILIA, BUENOS AIRES, Argentine, Brazil, United States, China, Argentina, Brasilia, Mercosur, New York, Washington, dollarizing Argentina, U.S, Sao Paulo, Buenos Aires

☆ Argentina’s market rallied sharply on a historic election. How investors can play it
▼ + stars: | 2023-11-26 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

Argentina last week held a historic election in which libertarian candidate Javier Milei came out victorious, sending the country's stock market surging. The Merval , Argentina's stock market benchmark, rallied 42% for the week. The trade Trading in Argentine stocks has historically been a volatile endeavor. That said, there are ways for investors in the U.S. to get exposure to the Argentine market if they think stocks can rise during Milei's presidency. Other U.S.-listed Argentine stocks include oil name YPF — which surged nearly 57% last week — and Banco BBVA Argentina , which is up 34% in 2023.

Persons: Javier Milei, Milei, Diego Pereira, –, Jorge Morgenstern, GlobalX Organizations: JPMorgan, Senate, HSBC, Argentine, Banco BBVA Argentina Locations: Argentina, Argentine, U.S, . U.S

☆ Argentina's Milei, IMF discuss fiscal adjustment plan, monetary program
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +1 min

Argentine presidential candidate Javier Milei addresses supporters as they react to the results of Argentina's runoff presidential election, in Buenos Aires, Argentina November 19, 2023. REUTERS/Agustin Marcarian/File Photo Acquire Licensing RightsNov 24 (Reuters) - Argentina President-elect Javier Milei said on Friday he had spoken with the director of the International Monetary Fund (IMF), Kristalina Georgieva, regarding plans to adjust the country's fiscal policy and monetary program. The country is currently facing inflation nearing 150%, a looming recession and net reserves seen at negative $10 billion. Argentina is tied up by a $44 billion loan program from the IMF that has veered off track. "The IMF is committed to support efforts to durably reduce inflation, improve public finances and raise private-sector-led growth," Georgieva said on X.

Persons: Javier Milei, Agustin Marcarian, Kristalina, Milei, Georgieva, Kylie Madry, Isabel Woodford Organizations: Argentine, REUTERS, International Monetary Fund, IMF, Thomson Locations: Buenos Aires, Argentina

☆ Sinner stuns Djokovic then doubles up to send Italy into Davis Cup final
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +3 min

MALAGA, Spain, Nov 25 (Reuters) - Italy returned to the Davis Cup final after a gap of 25 years as Jannik Sinner beat Novak Djokovic in both singles and doubles to secure a 2-1 victory over Serbia on Saturday that earned the 1976 champions a title clash with Australia. "It was for sure the game-changer today," Sinner said of his singles heroics at 4-5. "Obviously playing doubles in the decider of a Davis Cup tie is not easy. We are a very complete team and each one of us is really happy to be here. Reporting by Shrivathsa Sridhar in Bengaluru; Editing by Pritha Sarkar, Clare Fallon and Toby DavisOur Standards: The Thomson Reuters Trust Principles.

Persons: Novak Djokovic, Lorenzo Sonego, Djokovic, Miomir, Martin, Filippo Volandri's, Lleyton Hewitt's, Kecmanovic, Lorenzo Musetti, Argentina's Juan Martin del Potro, Sinner, Daniil Medvedev, Musetti, Shrivathsa Sridhar, Pritha Sarkar, Clare Fallon, Toby Davis Organizations: Davis, Serbia, Martin Carpena Arena, Australia, Serbian, ATP, Djokovic, men's, Thomson Locations: MALAGA, Spain, Italy, Serbian, Finland, Netherlands, Bengaluru

[1/2] Former governor of Argentina's central bank, Luis Caputo, speaks during a news conference in Buenos Aires, Argentina May 4, 2018. In the meeting, however, Caputo declined to confirm that he would be the new economy minister, two of the sources said. The roadmap is orthodox and without crazy things," Caputo told the assembled bank representatives, according to a senior banking source who attended the meeting. Earlier on Friday, though, he said shutting the central bank was "non-negotiable". The second bank source said Caputo had discussed the need to fully attack inflation and lower the Leliq pile, though did not have details on how this would be done.

Persons: Luis Caputo, Marcos Brindicci, Javier Milei, Caputo, Milei, Mauricio Macri's, Javier Bolzico, ADEBA, Milei's, " Caputo, Jorgelina, Jorge Otaola, Adam Jourdan, Alistair Bell Organizations: REUTERS, La, Reuters, Thomson Locations: Argentina's, Buenos Aires, Argentina, BUENOS AIRES, Argentine, Rosario

☆ Argentina's Milei Says Shutting Central Bank 'Non-Negotiable'
▼ + stars: | 2023-11-24 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

BUENOS AIRES (Reuters) - Argentina's President-elect Javier Milei said on Friday that the closure of the country's central bank, a signature campaign pledge, was a "non-negotiable matter", according to a statement from his office posted on social media platform X. Argentina's social security administration ANSES, a key institution given Milei's pledge to slash state spending and subsidies, will be lead by economist Osvaldo Giordano from the key central Cordoba region, the statement added. That marks a shift from a previous plan that Milei would appoint a close ally to lead the administration. Milei faces major hurdles to implement his more radical reform plans, which include dollarizing the economy, shutting the central bank and privatizing state companies like YPF, which will take time if they can be done at all. Milei also has to juggle demands from the more mainstream conservative bloc, whose public backing was key to him winning the run-off election last week.

Persons: Javier Milei, Osvaldo Giordano, Horacio Marin, Milei, Gabriel Araujo, Adam Jourdan Organizations: BUENOS AIRES, Reuters Locations: BUENOS, Cordoba

☆ Argentina's Milei says shutting central bank 'non-negotiable'
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, Nov 24 (Reuters) - Argentina's President-elect Javier Milei said on Friday that the closure of the country's central bank, a signature campaign pledge, was a "non-negotiable matter", according to a statement from his office posted on social media platform X. Argentina's social security administration ANSES, a key institution given Milei's pledge to slash state spending and subsidies, will be lead by economist Osvaldo Giordano from the key central Cordoba region, the statement added. That marks a shift from a previous plan that Milei would appoint a close ally to lead the administration. Milei faces major hurdles to implement his more radical reform plans, which include dollarizing the economy, shutting the central bank and privatizing state companies like YPF, which will take time if they can be done at all. Milei also has to juggle demands from the more mainstream conservative bloc, whose public backing was key to him winning the run-off election last week.

Persons: Javier Milei, Osvaldo Giordano, Horacio Marin, Milei, Gabriel Araujo, Adam Jourdan Our Organizations: Thomson Locations: BUENOS AIRES, Cordoba

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