Argentina, holdout creditors reach $4.6 bln agreement

Argentina and its main holdout creditors have reached a $4.653 billion agreement in principle to settle a 15-year-old sovereign debt default dispute, a deal that could help the country to return to international capital markets and revive its economy.

Argentina defaults as "vulture talks" fail

Argentina was in default Thursday for the second time in 13 years after the failure of last-ditch talks with US hedge funds it has branded "vultures."

After hours of meetings Wednesday in New York, Economy Minister Axel Kicillof emerged to confirm that no deal had been reached, leaving Latin America's third largest economy unable to meet repayment obligations by the midnight deadline.

"Unfortunately, no agreement was reached and the Republic of Argentina will imminently be in default," said Daniel Pollack, the lawyer appointed by a US court to oversee the talks.

Russia temporarily cuts gas price by one third to help Ukraine

Russia will provide gas to Ukraine at a price of $ 268.5 dollars per thousand cubic meters which is lower by one third of the previous price which was $ 400 per thousand cubic meters, said Russian President Vladimir Putin on Tuesday after a meeting of the Russian- Ukrainian Interstate Commission.

The agreement was signed between Russia’s "Gazprom" and "Natftogaz Ukraine" in the presence of President Putin and President of Ukraine Viktor Yanukovych.

US judge orders Argentina to pay US$1.4b to hedge funds. Argentina has already petitioned the US Supreme Court to review the case.

A US appeals court judge ordered Argentina on Friday to pay US$1.47 billion to hedge funds holding its defaulted bonds, quashing an appeal by Buenos Aires against the initial 2012 judgment.

NEW YORK: A US appeals court judge ordered Argentina on Friday to pay US$1.47 billion to hedge funds holding its defaulted bonds, quashing an appeal by Buenos Aires against the initial 2012 judgment.
The judge endorsed the original decision that Argentina must compensate two hedge funds, NML Capital and Aurelius, for 100 per cent of the value of defaulted Argentine government bonds they hold even though the two declined to take part in a restructuring of the debt.