Stories for March 2010
Mercosur is Uruguay’s main market for value-added exports, says Mujica
Uruguayan president Jose “Pepe” Mujica admitted Mercosur has its problems but it is also the market for Uruguayan exports with most added value: “to the rest of the world we sell mostly commodities, to Mercosur Uruguayan input”.
Argentina begins next week to pay debts with Central Bank reserves
Following an Argentine federal court ruling approving the use of Central Bank reserves for the payment of foreign debt the administration of President Cristina Fernandez de Kirchner will begin transactions next week using the liberated funds.
NZ dairy company in Uruguay sells land to pay debts, but plans to remain
New Zealand Farming Systems Uruguay, listed in the NZ stock exchange, has sold 2,500 hectares of land on its Tobay farm in eastern Uruguay for 8.5 million US dollars in a move that will allow it to repay nearly half an outstanding debt to shareholder PGG Wrightson.
Bolivia denies modernizing the Army “to provoke” neighbouring Paraguay
Bolivian president Evo Morales strongly denied Tuesday that furnishing new equipment to the Armed Forces was directed to provoke neighbouring Paraguay and accused his opponents to take advantage of the situation to confront the two countries.
Main traders agree on quarterly contracts for iron ore, but no mention of China
Two of the world's biggest mining companies have agreed landmark deals with Asian steel mills to buy iron ore on quarterly contracts. The deals could mark the end of annual contracts that have formed the basis for pricing in the steel industry for decades.
Vale and BHP Billiton said the new system was fairer and more transparent.
Argentina expects a 2009/2010 crop of 91 million tons, up 48%
Argentina’s 2009/2010 crop is estimated in 91 million tons, 48% higher than the previous mainly because of improved yields thanks basically to more regular rainfall, courtesy of the El Niño climate phenomenon.
US criticizes Canada over its Arctic policy
Hillary Clinton has criticised Canada for failing to invite indigenous groups and Scandinavian countries to talks on the future of the Arctic.
UK economy recovery in fourth quarter revised upwards
The United Kingdom economy grew faster than previously thought in the last quarter of 2009, the Office for National Statistics says. It revised October to December's growth to 0.4%, up from the previous estimate of 0.3%.
Quake impact leaves Chilean farmers short of storage, cooling and irrigation
Chile’s annual fall harvest season continues apace, notwithstanding earthquake damage to Chile's roads, irrigation systems, electric grid, packing houses, and other infrastructure.
Senator McCain calls for troops to be deployed along Mexican border
The influential US Senator John McCain from Arizona sent a letter to Homeland Security Secretary Janet Napolitano calling for the deployment of National Guard troops along the “southern border region” between the US and Mexico to help counter the growing violence from the drug cartels.
