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CARTERAS MERVAL Y M.AR 2011
COMPOSICIÓN DE LA CARTERA DEL INDICE MERVAL MERVAL INDEX PORTFOLIO AND WEIGHTS PRIMER TRIMESTRE DE 2011 TERCER TRIMESTRE DE 2011 - First Quarter 2011 - - Third Quarter 2011 - Especie % Especie % Especie % Especie % -Stock- -Stock- -Stock- -Stock- Grupo Financiero Galicia 18.32% Banco Hipotecario 3.98% Grupo Financiero Galicia 15.65% Petrobras Energía 3.30% Tenaris 15.53% Edenor 3.61% Petroleo Brasileiro 10.26% Edenor 3.02% Petroleo Brasileiro 11.48% Transener 3.13% Telecom Argentina 9.81% Molinos 2.61% Pampa Energía 7.82% Banco Macro 3.07% Tenaris 9.07% Banco Patagonia 2.57% Telecom Argentina 7.18% Petrobras Energía 2.82% Pampa Energía 7.75% Mirgor 2.52% Siderar 5.79% YPF 1.81% Banco Francés 6.10% Ledesma 2.36% Banco Francés 4.90% Molinos 1.31% YPF 5.60% Transener 2.22% Aluar 4.01% Ledesma 1.25% Siderar 4.96% Banco Hipoetecario 2.06% Banco Patagonia 3.98% Banco Macro 4.66% Comercial del Plata 1.85% Aluar 3.64% SEGUNDO TRIMESTRE DE 2011 CUARTO TRIMESTRE DE 2011 - Second Quarter 2011 - - Fourth Quarter 2011 - Especie % Especie % Especie % Especie % -Stock- -Stock- -Stock- -Stock- Grupo Financiero Galicia 15.85% Banco Hipotecario 3.72% Grupo Financiero Galicia 18.45% Edenor 2.94% Petroleo Brasileiro 12.29% Edenor 3.67% Tenaris 14.56% Aluar 2.79% Tenaris 9.82% YPF 3.49% Telecom Argentina 8.85% Petrobrás Argentina S:A. 2.75% Pampa Energía 8.85% Petrobras Energía 3.18% Banco Macro 7.32% Molinos 2.07% Telecom Argentina 8.03% Transener 3.16% Pampa Energía 7.13% Comercial del Plata 1.81% Siderar 5.80% Banco Macro 3.15% Petroleo Brasileiro 6.87% -
The Mineral Industry of Argentina in 2011
2011 Minerals Yearbook ARGENTINA U.S. Department of the Interior September 2013 U.S. Geological Survey THE MINERAL INDUSTRY OF ARGENTINA By Susan Wacaster Argentina is a mineral-rich country that produces and Government Policies and Programs exports mineral commodities and raw materials. Argentina has deposits of metals, including copper, gold, lead, silver, Argentina’s Mining Code [El Codigo de Mineria] was and zinc; energy minerals, including natural gas, crude enacted by the Argentine Congress on November 25, 1886. The petroleum, and uranium; a wide variety of industrial minerals; Mining Code underwent significant revisions in 1993 with the and minerals that are important for numerous industrial and enactment of law No. 22,224 (Mining Reorganization Law) manufacturing applications, such as cadmium and lithium. The and law No. 24,228 (Federal Mining Covenant); in 1995 with value of production of goods (including those from agriculture, the enactment of law No. 24,498 (Mining Modernization Law), forestry, and livestock; construction; electricity, gas, and water; law No. 24,523 (creation of the National Mining Trade System fishing; manufacturing; and mining and quarrying industries) of the Mining Secretariat), and law No. 24,585 (Environmental accounted for 37.6% of the country’s nominal gross domestic Protection Mining Law); and in 1997 with the passage of law product (GDP) in 2011 compared with 37.9% in 2010. In No. 25,225 (modifications) (Secretaría de Minería de la Nación, 2011, Argentina was estimated to be the world’s second ranked 2011). producer of boron and the fourth ranked producer of lithium and Argentina’s Secretaría de Minería de la Nación [Mining strontium (from celestite) (Angulo, 2012a, b; Instituto Nacional Secretariat] is responsible for the administration, development, de Estadística y Censos, 2012a; Jaskula, 2012). -
Argentina Connected
AFP Argentina connected The Government of Argentina recognizes the importance training to public-school students, extending connectivity to re- of broadband for social and economic development, and mote areas, and establishing public access ICT centres. last year launched a major plan to increase broadband The strategic orientations of Argentina Conectada are digital connectivity for individuals, businesses, educational in- inclusion; optimizing use of the radio-frequency spectrum; devel- stitutions and government offi ces across the nation. oping universal service; national production and creation of em- ployment in the telecommunication sector; training and research in telecommunication technologies; infrastructure and connectiv- ity; and capacity building. Developments in broadband In order to give effect to the plan, the government has de- and digital television clared the development, implementation and operation of the Argentina’s President Cristina Fernández de Kirchner pre- federal fi bre-optic network entrusted to the Empresa Argentina sented the country’s National Telecommunication Plan Argentina de Soluciones Satelitales SA (AR-SAT), a government-owned cor- Conectada (Argentina Connected) on 18 October 2010. The plan poration, to be a public interest project. combines under a single connectivity initiative several other ef- President Cristina Fernández says with great pride, “The Plan forts already under way, the main thrust of which is public in- ‘Argentina Connected’ means above all the democratization of vestment for the deployment -
Banco Macro S.A
BANCO MACRO S.A. Financial Statements as of September 30, 2017, together with the review report on interim-period financial statements CONTENTS Review report on interim-period financial statements Cover Balance sheets Statements of income Statements of changes in shareholders’ equity Statements of cash flows Notes to the financial statements Exhibits A through L, N and O Consolidated balance sheets Consolidated statements of income Consolidated statements of cash flows Consolidated statements of debtors by situation Notes to the consolidated financial statements with subsidiaries REVIEW REPORT ON INTERIM-PERIOD FINANCIAL STATEMENTS To the Directors of BANCO MACRO S.A. Registered office: Sarmiento 447 City of Buenos Aires I. Report on the financial statements Introduction 1. We have reviewed (a) the accompanying interim financial statements of BANCO MACRO S.A. (“the Bank”), (b) the accompanying interim consolidated financial statements of BANCO MACRO S.A. and its subsidiaries, which comprise the related balance sheets as of September 30, 2017, and the statements of income, changes in shareholders’ equity and cash flows and cash equivalents for the nine-month period then ended, and (c) a summary of the significant accounting policies and additional explanatory information. Responsibility of the Bank’s Management and Board of Directors in connection with the financial statements 2. The Bank’s Management and Board of Directors are responsible for the preparation and presentation of these financial statements in accordance with the accounting standards established by the BCRA (Central Bank of Argentina) and are also responsible for performing the internal control procedures that they may deem necessary to allow for the preparation of interim-period financial statements that are free from material misstatements, either due to errors or irregularities. -
Argentina: Rudderless
1 110TH CONGRESS " ! S. PRT. 2d Session COMMITTEE PRINT 110–48 ARGENTINA: RUDDERLESS REPORT TO THE MEMBERS OF THE COMMITTEE ON FOREIGN RELATIONS UNITED STATES SENATE ONE HUNDRED TENTH CONGRESS SECOND SESSION SEPTEMBER 9, 2008 Printed for the use of the Committee on Foreign Relations Available via World Wide Web: http://www.gpoaccess.gov/congress/ index.html U.S. GOVERNMENT PRINTING OFFICE 44–239 PDF WASHINGTON : 2008 For sale by the Superintendent of Documents, U.S. Government Printing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 VerDate Aug 31 2005 16:39 Sep 11, 2008 Jkt 000000 PO 00000 Frm 00001 Fmt 5012 Sfmt 5012 H:\DOCS\44239.TXT sfrela2 PsN: MIKEB seneagle COMMITTEE ON FOREIGN RELATIONS JOSEPH R. BIDEN, JR., DELAWARE, Chairman CHRISTOPHER J. DODD, Connecticut RICHARD G. LUGAR, Indiana JOHN F. KERRY, Massachusetts CHUCK HAGEL, Nebraska RUSSELL D. FEINGOLD, Wisconsin NORM COLEMAN, Minnesota BARBARA BOXER, California BOB CORKER, Tennessee BILL NELSON, Florida JOHN E. SUNUNU, New Hampshire BARACK OBAMA, Illinois GEORGE V. VOINOVICH, Ohio ROBERT MENENDEZ, New Jersey LISA MURKOWSKI, Alaska BENJAMIN L. CARDIN, Maryland JIM DEMINT, South Carolina ROBERT P. CASEY, JR., Pennsylvania JOHNNY ISAKSON, Georgia JIM WEBB, Virginia DAVID VITTER, Louisiana ANTONY J. BLINKEN, Staff Director KENNETH A. MYERS, JR., Republican Staff Director (II) VerDate Aug 31 2005 16:39 Sep 11, 2008 Jkt 000000 PO 00000 Frm 00002 Fmt 5904 Sfmt 5904 H:\DOCS\44239.TXT sfrela2 PsN: MIKEB CONTENTS Page Letter of Transmittal ............................................................................................... v Introduction ............................................................................................................. -
I Hope You're Available to Swing by the Newseum This Evening As the National Park Trust Honors Senator Martin Heinrich (June 13Th at 6:30 PM)
Message From: Knauss, Chuck [[email protected]] Sent: 6/13/2018 4:40:24 PM To: Wehrum, Bill [/o=Exchangelabs/ou=Exchange Administrative Group (FYDI BO HF 23SPDL T)/cn=Recip ients/en =33d96a e800cf43a391 ld94a 7130b6c41-Weh rum, Wil] Subject: Invitation for tonight -- yes I know it's late ... Attachments: 2018 Bruce F Vento Public Service Award lnvitation.s-c-c-c-c.pdf Bill: Please come tonight and share with others that might be interested. ! I hope you're available to swing by the Newseum this evening as the National Park Trust honors Senator Martin Heinrich (June 13th at 6:30 PM). As you know, I'm on the NPT board and our mission is very important to me - protecting high priority lands for the National Park Service and creating future park stewards, with a special emphasis on children from under-served communities. Each year we host the Bruce F. Vento Public Service Award event to honor an outstanding elected official and conservationist and celebrate NPT's accomplishments. The invitation is below and attached. The short program will give you a chance to hear about the important and effective projects we have underway and the highlight of the evening is hearing directly from some over the under-served children in our programs. The event includes a reception with the 30-minute formal program starting at 7:00 PM. Best regards, Chuck Sierra Club v. EPA 18cv3472 NDCA Tier 1 ED_002061_00180418-00001 Sierra Club v. EPA 18cv3472 NDCA Tier 1 ED_002061_00180418-00002 Sierra Club v. EPA 18cv3472 NDCA Tier 1 ED_002061_00180418-00003 Bruce E Vento Public Service Award Recipients JOHL C'Jn<Jrntt'Nnm:m Sett; McCdkm, Minntrna 2th Ss>ndM fbb h)r!nvm. -
Bolsas Y Mercados Argentinos Indices Methodology Consultation
Bolsas y Mercados Argentinos Indices Methodology Consultation BUENOS AIRES, NOVEMBER 5, 2018: In March 2018, Bolsas y Mercados Argentinos (“BYMA”) and S&P Dow Jones Indices (“S&P DJI”) signed an Index Operation and License Agreement. The partnership between BYMA and S&P DJI, the world’s leading provider of index-based concepts, data and research, includes the adoption of international index methodology standards and the integration of operational processes and business strategies and enhances the visibility, governance, and transparency of the existing indices. The agreement also enables the development, licensing, distribution and management of current and future indices which will be designed to serve as innovative and practical tools for local and global investors. The new and existing BYMA indices will be co- branded under the “S&P/MERVAL” and “S&P/BYMA” names (the “Indices”) that can be used to underlie liquid financial products, expanding the breadth and depth of the Argentine capital market. As part of this transition, S&P DJI and BYMA are conducting a consultation with members of the investment community on potential changes to the following BYMA indices to ensure that they continue to meet their objectives and are aligned with the needs of local and international market participants. BYMA Argentina General Index (Also known as Índice General de la Bolsa de Comercio de Buenos Aires) MERVAL Index MERVAL Argentina Index S&P DJI SUPPORTING DOCUMENTS This consultation is meant to be read in conjunction with supporting documents providing greater detail with respect to the S&P DJI policies, procedures and calculations described herein. -
The Erosion of Checks and Balances in Argentina
Electoral Fraud, the Rise of Peron and Demise of Checks and Balances in Argentina Lee J. Alston Andrés A. Gallo Professor of Economics Department of Economics Director, Program on Environment and Society University of North Florida University of Colorado Coggin College of Business, Room 3404 Research Associate, NBER e-mail: [email protected] e-mail: [email protected] April 2007 For comments and support on earlier drafts we thank A. Leticia Arroyo-Abad, Blanca Sánchez-Alonso, Vanessa Baird, Dan Bogart, Michael Bordo, John Drobak, Bertrand Du Marais, Alan Dye, Samuel Fitch, Wolfgang Keller, John Londregan, Gary Libecap, Joseph Love, Geraldo Munck, Larry Neal, Douglass North, Leandro de la Escosura Prados, Sebastian Saeigh, Mary Shirley, Carol Shiue, Pablo Spiller, Sven Steinmo, Thomas Ulen, Werner Baer and seminar participants at the University of California, University of Colorado, University of Illinois, University of Paris X, and the NBER. We also received valuable feedback from participants at the 2004 meetings of the New Institutional Economics. 2 Electoral Fraud, the Rise of Peron and Demise of Checks and Balances in Argentina Abstract The future looked bright for Argentina in the early twentieth century. It achieved high levels of income per capita and was moving away from authoritarian government, towards a true democracy, with a system of checks and balances. Unfortunately, Argentina never finished the transition. The turning point away from the road towards checks and balances occurred in the 1930s. To stay in power in the 1930s, the Conservatives in the Pampas resorted to electoral fraud, which neither the legislative, executive, or judicial branches checked. -
Denominacion De La Entidad : Banco Hipotecario Nacional
ESTADO DE SITUACION PATRIMONIAL Correspondiente al período económico finalizado el 30/09/2017 Comparativo con el cierre del ejercicio anterior En miles de pesos 2017 2016 ACTIVO A Disponibilidades (Nota 2.1) 3.260.691 7.099.631 Efectivo 801.600 714.529 Entidades financieras y corresponsales 2.459.091 6.385.102 - B.C.R.A. 1.944.702 5.332.648 - Otras del país 1.800 608 - del Exterior 512.589 1.051.846 B Títulos Públicos y Privados (Anexo A y Nota 2.3.) 6.913.570 3.675.743 Tenencias registradas a valor razonable de mercado (Nota 40) 1.631.691 1.957.162 Tenencias registradas a costo más rendimiento 593.838 914.362 Inversiones en títulos privados con cotización 4.092 9.283 Instrumentos emitidos por el BCRA 4.683.949 794.936 C Préstamos (Anexos B, C y D y Notas 2.2. y 2.4.) 29.212.911 25.223.029 Al sector público no financiero 86.588 122.899 Al sector financiero 513.755 532.143 Interfinancieros - call otorgados - 30.000 30.000 Otras financiaciones a entidades financieras locales 437.286 474.679 Intereses, ajustes y diferencias de cotización devengadas a cobrar 46.469 27.464 Al sector privado no financiero y residentes en el exterior 29.149.050 25.034.496 Adelantos 497.238 290.153 Documentos 862.607 557.614 Hipotecarios 3.312.631 2.739.916 Prendarios 2.937 466.500 Personales 5.715.321 4.307.966 Tarjetas de crédito 11.486.024 11.466.334 Cobros no aplicados (5.502) (1.166) Otros (Nota 7) 7.034.173 4.948.348 Intereses y diferencias de cotización devengados a cobrar 274.971 274.230 Intereses documentados (31.350) (15.399) Previsiones (Anexo J y Nota 5) (536.482) (466.509) D Otros créditos por intermediación financiera (Anexos B, C y D y Notas 2.2. -
Global Research on Governance and Social Protection Argentina Case Study
Global research on governance and social protection Argentina case study Document number Acknowledgements Acknowledgements This report was prepared by Development Pathways for the United Nations Department of Economic and Social Affairs (UNDESA), Division for Inclusive Social Development, within the framework of the project “Global research on the governance of social protection systems.” The project is jointly funded and overseen by UNDESA and the International Labour Organization (ILO). The lead author of the report is Alexandra Barrantes (Senior Social Policy Specialist, Development Pathways), with inputs from Shea McClanahan (Senior Social Protection Specialist, Development Pathways) and Richard Chirchir (Senior Management Information System (MIS) Specialist, Development Pathways). Shea McClanahan and Stephen Kidd (Senior Social Policy Specialists, Development Pathways) provided oversight for the report. The authors are grateful for the constructive technical feedback from Aurelie Klein (ILO), as well as the overall guidance provided by Robert Venne (UNDESA), Oleg Serezhin (UNDESA) and Wenyan Yang (UNDESA). i Table of contents Table of Contents Acknowledgements ................................................................................................................ i Acronyms ............................................................................................................................. iii 1 Key messages ................................................................................................................ -
“Don't Borrow from Me Argentina” the Aftermath of the Largest Sovereign
Final Draft: 20 March 2008 “Don’t Borrow From Me Argentina” The Aftermath of the Largest Sovereign Default in International Finance MARIANO SOTO GAJARDO∗ "We are going to take the bull by the horns. We are going to speak of the foreign debt. First, I announce that the Argentine state will suspend payment on the foreign debt.” (Inauguration speech of President Adolfo Rodriguez Saá, December 24, 2001) INTRODUCTION This is the story of a country that has learned how not to honour its contractual obligations. A country that has behaved opportunistically in restructuring its debt. A country that has claimed to negotiate in good faith with its creditors when its efforts to do so have been dubious to say the least. A country that has exploited every legal mechanism available to prevent its creditors from recovering their claims in court. This is the story of Argentina and its most recent sovereign debt restructuring. Argentina has a long history of defaulting on its obligations. After selling bonds listed on the London Stock Exchange in the early 1820s, the country defaulted on the bonds just a few years later and did not settle with the bondholders until ∗ LL.B. Universidad de Chile. LL.M. The University of Chicago and the London School of Economics & Political Science. 1 Final Draft: 20 March 2008 1857.1 Argentina defaulted on its obligations again in 1890, causing a financial panic in England as Argentina’s primary creditor, Baring Brothers, experienced a liquidity crisis as a result of Argentina’s default.2 In 1956, Argentina’s threatened -
Argentina CFO Route to the Top
Financial Officer Argentina CFO Route to the Top When we recruit for the CFO position, clients often ask whether the candidate has previous experience in the position, and which industries we should consider. This study is intended to answer these and several other important questions, as well as offer general guidelines around the CFO’s route to the top in Argentina. Over the past 10 years, Spencer Stuart has analyzed the background and demographics of CFOs of the largest and most important companies in the United States, Europe and Asia. This is the first time we’ve studied the CFO route to the top for executives in Latin America. We have performed a rigorous analysis of the careers of CFOs at leading companies in Argentina to better understand what has prepared them for the leadership positions they now occupy. This report pays particular attention to CFOs’ functional experience, their academic background and the difference in profiles between internal and external hires. argentina CFO rOute tO the Top ExEcutivE summary » Gender: 95% men/5% women » Average tenure: 6.3 years » Average age: 50 years old » Internal vs. external: 62% are internal hires » Country of origin: 95% of CFOs in Argentina are local GEndEr divErsity rEmains an issuE The percentage of woman among Latin American CFOs is extremely low, and Argentina is no exception 95% of all CFOs are men — only 5% of Argentine CFOs are female. In other words, there are only two female CFOs in the Merval 25. By comparison, 13% of all Fortune 500 CFOs, 8% of Latin-American CFOs and 6% of European CFOs are women.