The internet has exploded with commentary on Argentina’s decision to re-nationalize hydrocarbon firm YPF. While the Western world was aghast at the government’s decision and worried about the future of foreign direct investment in the country, the Argentinian press and public welcomed the return of the formerly state-owned firm.
China dominated Thursday’s web discourse as rumors of higher than expected GDP numbers propped up the American stock market, although concerns about China’s long-term direction festered over the Bo Xilai affair and a report that the country’s low-end housing initiative might not be as successful as envisaged.
Real estate stocks are on the rise, but investors should be careful. Investing in real estate and construction is a riskier proposition than investing in stocks.
The wait may be over for a formalization of the 130-billion-euro aid package for Greece to avoid a default in March. Bloomberg reports on Saturday that the Greek government has found the additional cuts to bring spending down to $427 million, a requirement led by Germany as part of further aid.