News from Latin America and Mercosur

State-controlled YPF wants to keep its ADS listed in the New York exchange

President Cristina Fernández extended for another 30 days the intervention of YPF

Argentine state-controlled energy company YPF said it risks having its American Depositary Shares (ADS) de-listed by the New York Stock Exchange since it is not complying with all regulatory requirements.

Published in: Energy & Oil, Investments, Politics, Argentina, International. 5 comments

Indian oil and gas company desists from Falklands’ exploration partnership

ONGC Videsh expressed interest for two oil and gas blocks up for offer

After having to abandon its oil and gas assets quest in Vietnam off the South China Sea India has asked ONGC Videsh Limited (OVL) not to go ahead with its acquisition of hydrocarbon assets located in deep water in Falkland Islands

Published in: Energy & Oil, Investments, Politics, Falkland Islands, International. 9 comments

Rousseff empowers Truth commission to look into the past without hatred or vengeance

All Brazilian living presidents were present at the solemn ceremony

In a solemn ceremony Brazilian President Dilma Rousseff has sworn in the seven members of a Truth commission created to look into human rights abuses committed during the nation’s long dictatorship.

Published in: Politics, Brazil. 1 comment

“I’m predictable, no shocks” says CFK after Tuesday’s mini run on the US dollar

“Apparently there are people who are determined to speak badly of Argentina” remarked CFK

After a day of intense trading in the ‘blue’ (informal) market for US dollars which reached a new high of 5.50 Pesos, Argentine President Cristina Fernández assured on Tuesday evening that there will be no economic ‘shocks’ or a ‘system of multiple exchange rates’ as “has been rumoured during the ...

Published in: Economy, Politics, Argentina. 82 comments

Paraguay’s beef exports picking up after two outbreaks of FMD

The challenge is to recover the status of free of FMD with vaccination

Paraguay’s meat exports totalled 285 million dollars in the first four months of the year, which makes it the second best four-months for the industry in recent years, said German Ruiz, head of the country’s Rural Association.

Following electoral disaster, Merkel fires federal Environment minister

Roetggen lost North Rhine-Westphalia and his political future on May 13

German Chancellor Angela Merkel fired Norbert Roettgen, the federal Environment minister who led her Christian Democratic Union to its worst-ever result in an election in Germany’s most populous state.

Argentina insists before Red Cross on identifying remains of combatants buried in the Falklands

Vice President Boudou met with Red Cross chief Kellenberg in Geneva (Photo: TELAM)

Vice President Amado Boudou called for a ‘concrete reply’ to Argentina’s request for the International Red Cross to collaborate with the identification of the combatants fallen during the Falkland Islands conflict in 1982 and whose remains are buried at the cemetery in Darwin.

Merkollande admit differences but call for unity and growth in the Euro zone

Hollande and Merkel: not such a complicated fellow after all

Despite their differences over how to drag Europe out of its current economic swamp, German and French leaders pledged to join efforts in reinvigorating growth in the continent during their first meeting on Tuesday.

US dollar in Argentina’s ‘blue’ (parallel) market soars 5% on Tuesday

Markets are nervous and manufacturers are asking for a US dollar of 5.40 Pesos

The US dollar in Argentina’s parallel market soared on Tuesday as strong unsatisfied demand moved to the so called ‘blue’ market as a result of the increasing controls for the purchase of the greenback.

Brazilian discomfort: ends automatic import licences for Argentine perishables

Inspectors have up to 60 days to consider license applications raising the risk cargoes will rot at the border.

Brazil this week escalated a growing trade fight with Argentina by increasing the bureaucratic obstacles for importing about 10 perishable products including apples, raisins, and potatoes, a senior Brazilian government official was quoted by the media.