Stories for June 14th 2011
Humala reaffirms historic links: “Peru will always support Argentina”
President-elect Ollanta Humala said Peru has shown “it will always support Argentina” and underlined the long standing close relations with the country that hosts one of the largest Peruvian communities overseas.
Korean Hyundai to ensure local market agrees to export Argentine bio-diesel and soy flour
Korea’s Hyundai reached an agreement with the Argentine government by which it will compensate its 91 million US dollars surplus on sales to the local domestic market by promoting exports of peanuts, wine, bio-diesel and soy flour to the tune of 157 million US dollars.
Facebook preparing for public offering; company value over 100 billion USD
Facebook is preparing to file for an initial public offering as early as October or November that could value the popular social networking site at more than 100 billion US dollars, financial news channel CNBC reported this week.
Iraq reconstruction 6.6bn USD are missing, says official US investigation
Some 6.6bn US dollars flown into Iraq eight years ago may have been stolen, according to a US official investigating fraud in the country. The missing money may represent “the largest theft of funds in national history”, investigator Stuart Bowen told the Los Angeles Times newspaper.
Humpback whale appears floating in the port of Montevideo
An eight metre long humpback whale with a big gash close to the mouth appeared dead in the port of Montevideo. According to local marine biologists the cetacean most probably collided with a vessel.
Timberland sold for 1.8bn USD with a 43% premium for shareholders
US clothing giant VF Corporation, parent of brands including The North Face, Wrangler jeans and Nautica, will buy Timberland for about 1.8 billion US dollars in cash, the companies announced Monday.
Volcanic ash cloud forces the re-programming of Mercosur technical meeting
The 83rd ordinary meeting of the Common Market Group in the framework of Mercosur and which was scheduled for this week has been re-programmed for June 16 and 17, because of the volcanic ash cloud that has disrupted normal air traffic.
EU/Mercosur trade talks are frozen on the “edge of the cliff”
Trade talks between Mercosur and the European Union have been frozen on the “edge of the cliff” because of the European debt crisis, differences over agriculture subsidies and other crucial issues according to sources in Brazil from both sides.
Seatrade Conference: South America cruise vessel operating costs ‘unbearable’
Cruise vessel operating costs in South America are becoming unbearable according to company representatives speaking at the South America Seatrade Conference.
UN forecasts unemployment in Latin America will drop below 7% in 2011
The strong economic recovery of Latin America and the Caribbean will make it possible to bring down unemployment significantly from 7.3% in 2010 to between 6.7% and 7.0% in 2011, according to ECLAC and ILO.
