Industry, energy and media leaders represented Thursday, September 22, 2016 Argentine business moguls appear in Bahamas leaksIt wasn’t just prominent politicians and their families that appeared in yesterday’s data leak of firms in the Bahamas Islands. A series of prominent Argentine businessmen were also mentioned in relation with offshore societies in the Bahamas, according to the data released by the International Consortium of Investigative Journalists (ICIJ). The Italo-Argentine multinational Techint has a branch in the Bahamas called Techint International Construction Corp (Tenco), the La Nación daily reported yesterday. “It was created with the goal of doing engineering and construction works outside Argentina,” Techint said when asked about the reason for opening an offshore branch. The same was true of Antonio Tabanelli, founder of gaming firm Boldt, whose Bahamas outlets were already public.

English league cup Thursday, September 22, 2016 Manchester City marches on with 2-1 victory over SwanseaLONDON — Manchester City reached the fourth round of the League Cup with a 2-1 win over Swansea City yesterday as it continued its imperious start to the season under Pep Guardiola with a ninth straight win in all competitions. It was a less straightforward evening for City’s rival Manchester United, which was given a testing workout by third tier Northampton Town before goals from Ander Herrera and Marcus Rashford wrapped up a 3-1 win. Charlie Austin and Jake Hesketh were on target for Southampton as it beat Crystal Palace 2-0 in an all-Premier League tie while Sunderland’s Paddy McNair scored twice in a 2-1 win over Championship side Queens Park Rangers. Hull City booked its spot in the next round after coming from behind to beat struggling Stoke City 2-1 thanks to a stoppage-time winner from Markus Henriksen. Bristol City beat Fulham 2-1.

Soccer — South American Cup Thursday, September 22, 2016 Independiente fails to score at homeIndependiente wasted a couple of good scoring chances in the second half, managing only a 0-0 draw with Chapecoense of Brazil at the Libertadores de América stadium in Avellaneda, in the first leg of the South American Cup last 16 round. The plan was to wait for an Independiente player, win the ball and create counterattacks. The Reds did not have their best game since coach Gabriel Milito took charge. Independiente improved in the second half with Emiliano Rigoni participating in the best moves. However, Chapecoense almost took the lead in the 64th minute with a long shot that deflected on defender Nicolás Figal and went over the bar.

Thursday, September 22, 2016 8 Mile director, Oscar-winning writer Curtis Hanson diesBy Andrew DaltonAPLOS ANGELES — Curtis Hanson, who won a screenwriting Oscar for L.A. Paramedics declared Hanson dead at his Hollywood Hills home late Tuesday afternoon, Los Angeles police spokesman Tony Im said. I’m lucky I got to know him.”A native of Reno, Nevada, who grew up in Los Angeles, Hanson dropped out of high school to work as a photographer, writer and editor for the magazine Cinema. The film starring Rebecca De Mornay as a revenge-seeking nanny became a major hit. Hanson was nominated for best director and the movie for best picture.

Thursday, September 22, 2016 PDVSA awards oil contracts worth US$3.2BThe logo of the Venezuelan state oil company PDVSA is seen at a gas station in Caracas. In a similar tender renewed this year, Schlumberger NV , Oklahoma-based Horizontal Well Drillers and Venezuelan contractor Y&V won contracts to drill a total of 480 wells at three joint ventures between PDVSA and foreign partners. “Investment amounts to US$3.2 billion, which demonstrates the strength of PDVSA and shows trust in the national oil company,” PDVSA said in a statement. FINE PRINTAfter the Trenaco episode caused friction with partners, PDVSA revived the sunk deal but separated it into six four-year contracts of around 100 wells each. The second of two contracts at Petrocarabobo was not awarded because no valid bid was received, two sources said.

Thursday, September 22, 2016 Google launches new Allo messaging appGoogle-parent Alphabet Inc launched Allo, a messaging app that incorporates Google’s search feature and a chatbot that uses machine learning to “improve” itself over time. The new messaging service, which was unveiled in May, will compete with Facebook Inc’s WhatsApp and Messenger. The much-anticipated launch comes a month after Google rolled out Duo, its video calling app. Allo features a chatbot powered by Google Assistant, a virtual personal assistant like Apple Inc’s Siri. Google has started rolling out Allo and said the app would be available worldwide in the next few days.

Wednesday, September 21, 2016 Foreign sector deficit keeps raising worriesArgentina is still struggling to balance cash inflows and outflows despite the recent devaluation, the latest report from the INDEC statistics bureau showed yesterday. The country posted a current account deficit of US$2.7 billion in the second quarter of 2016, the bureau said yesterday, with financial inflows — mostly debt — compensating for a net loss elsewhere. Overall, US$2.6 billion were wired abroad under different forms of return of investment, an amount very close to the overall current account deficit. The current account is the broadest measure of a country’s foreign transactions encompassing trade, services, and an array of financial flows, including interest payments. Now, even after stabilizing the macroeconomy we are depending on debt to keep the economy a float,” Castiñeira argued.

Tuesday, September 20, 2016 Opposition targets Malcorra over MalvinasLawmakers call for ‘withdrawal’ of support for UN bid, as minister faces showdown in CongressThe government came under sustained heavy fire from opposition lawmakers and even some allies yesterday after it was accused of weakening the strength of Argentina’s sovereignty claim over the disputed Malvinas Islands in its recent accord with the United Kingdom. The agreement seeks to pave the way for more flights from the mainland to the Malvinas and the exploration of hydrocarbons. But the rapprochement came increasingly under threat yesterday after a fierce opposition backlash gained momentum, even as the government downplayed the move. Key members of various opposition groups including the Victory Front (FpV), Renewal Front (FR) and Workers Leftist Front (FIT) united to slam the agreement. “The declarations signed between Argentina and the UK over the Malvinas Islands and approved by the Executive must be sent to Congress urgently,” a resolution released by the main opposition bloc said.

An Afghanistan-born American sought in connection with a bombing that wounded more than two dozen people in New York City and could be linked to other bombs found in New York and New Jersey was taken into custody on Monday after a shootout, a New Jersey mayor said. Ahmad Khan Rahami of Elizabeth, New Jersey, was taken into custody after firing at police officer in Linden, New Jersey, about 20 miles outside New York, Elizabeth Mayor Chris Bollwage said. Investigators believe more people were involved in the New York and New Jersey bombing plots, two US officials told Reuters. The New York Police Department had released a photo of Rahami, 28, and said they wanted to question him about a Saturday night explosion that wounded 29 people in Manhattan's Chelsea neighborhood and for a blast earlier that day in Seaside Park, New Jersey, authorities said.

Soccer — Italian league Monday, September 19, 2016 Juve loses 2-1 at InterIcardi and Perisic score to take Derby d’ItaliaMILAN — A sixth successive Serie A title for Juventus might not be the foregone conclusion it appeared to be at the start of the season. Cracks have started to appear and Juventus lost its perfect start to the season yesterday as Inter Milan came from behind to win the Derby d’Italia 2-1. Mauro Icardi and substitute Ivan Perisic scored for Inter to cancel out Stephan Lichtsteiner’s opener. Inter had won just one of its first three league matches. Indeed no one else had scored for Inter this season until Perisic headed in Icardi’s cross in the 78th.

Monday, September 19, 2016 Barack Obama and his moral compromisesUS President Barack Obama waves as he boards Air Force One for his departure from Joint Base Andrews yesterday. Obama has generally stuck to passive-voice formulations, as he did in Laos, and avoided explicit apology. The New York Times’ analysis of Obama’s Laos speech appeared on page A8 of its September 8 edition. We’ll never know what, say, Latin America would be like today if the United States had done nothing to stop Cuban attempts to spread revolution during the Cold War. Erdogan certainly seems like the lesser of two evils — but Obama’s policy is nevertheless one of many moral compromises during his tenure, including his fateful decision not to intervene militarily in Syria.

President arrives in United States, representatives for Lula to hold event on sidelines Monday, September 19, 2016 Macri jets into New York ahead of UN General AssemblyPresident Mauricio Macri will renew Argentina’s sovereignty claims over the disputed Malvinas Islands during the 71st session of the United Nations (UN) General Assembly, state-run news agency Télam said yesterday. “(Argentine) sovereignty over Malvinas is permanent and a non-negotiable claim of all Argentine people,” Macri told the press after his arriva in New York yesterday, accompanied by First Lady Juliana Awada. Macri’s first speech as Argentine President at the UN General Assembly will take place tomorrow at 11.30am. The representatives will defend the president and denounce the “judicial persecution” levelled against the former president in Brazilian courts. The lawyer denied that their intention was to hinder new President Michel Temer’s participation in the Assembly, which is traditionally opened with Brazil as first speaker.

Monday, September 19, 2016 Syria ceasefire unravels as US, Russia trade accusations over deadly strikesA wounded man grimaces in pain a field hospital after an airstrike in the rebel-held town of Dael, in Deraa Governorate, Syria, yesterday. The air raid by the US-led coalition killed dozens of Syrian soldiers and led to a harsh verbal attack on Washington by Damascus and Moscow. The US military says it may have unintentionally struck Syrian troops while carrying out a raid against the Islamic State group in eastern Syria on Saturday. The seven-day ceasefire was supposed to end at midnight last night, according to a Syrian Army statement issued last week. Syrian state TV reported yesterday that dozens of residents had left rebel-held areas in Aleppo and were taken to shelters in the government-controlled part of the city.

Monday, September 19, 2016 Big events and little thingsPlenty was said at the Business and Investment Forum throughout most of last week and all had its value (even the most repeated observations about the Argentine economy might have enlightened at least some newcomers) but what went unsaid or failed to surface also deserves comment. Given that forming global value chains is the name of the game these days rather than the straight investment of national companies (if indeed there are still such things) in other countries, various opportunities might have gone missing — especially when Argentine entrepreneurial talent so often finds it easier to succeed abroad than at home. An event on this scale was always going to aim for the big picture but the sweeping generalizations leave aside the fact that the devil lies so often in the detail. Along the lines of “well begun is half done,” this forum only advanced halfway toward its aims in the best of cases — plenty of follow-up will be needed. The government is certainly not blind to this factor with various roadshows lined up for the future, starting already this week on Wall Street.

Monday, September 19, 2016 Empty seats at final gas hearingMultiple absentees as consultation on hikes endsPublic hearing on proposed natural gas price increases closed yesterday with the notable absence of 100 speakers, an express 80-minute session with only twelve debaters and an almost empty auditorium at the Usina Del Arte exhibition centre. Aranguren also announced that final details of the final natural gas rate hikes will be known in October, and that the Energy Ministry’s team will be holding a meeting today in order to schedule the new and definite increases to be applied from next month. “The state should make the proposal an open one by publishing the costs of natural gas,” state provincial prosecutor Eduardo Allende told the press. “About 40 percent of Argentine homes are (currently) paying 300 pesos (instead of 107 pesos) per month because they have to buy gas cylinders ... We want Argentines to have greater access to the natural gas network”, he concluded. On Friday, the Energy minister promised a progressive elimination of energy subsidies through October 2019, at which point they will equal zero except for Patagonia, Malargue and the Puna, where they will have energy subsidies through October 2022.