Stories for August 18th 2011
Historic win for wind energy in Brazilian government power auction
Wind farms have come out on top in the latest round of power auctions organized by Brazil’s government. Slowly letting go of government protection to compete head-to-head with historically cheaper fossil fuel energy, the wind power sector indicated its potential strength.
Zara accused of accepting Brazilian suppliers with slave-labor work conditions
Spain high-street retailer Zara has been accused of allegedly accepting slave-labor working conditions supplanted by more than 30 of its outsourced plants running in Brazil.
Korean corporations investing heavily in Latin American markets and resources
Korea’s leading businesses are making their forays into Latin America, which has emerged as a favoured destination among global investors for its growing economy, ample natural resources and robust domestic demand.
Rousseff names new Agriculture minister and respects balance in cabinet
Brazilian president Dilma Rousseff named on Thursday lawmaker Mendes Ribeiro as new Minister of Agriculture. The member of Congress from the farming state of Rio Grande do Sul replaces Wagner Rossi who stepped down Wednesday following strong allegations of corruption and irregularities.
Colombia/Argentina bilateral trade expected to reach 2 billion dollars in 2011
Colombia/Argentina bilateral trade is set to reach 2 billion dollars, eight times its 2003 value, and remains favourable for Argentina, according to Minister of Industry Debora Girogi.
Argentina lowers export tariffs for processed hake, shrimp and squid
Argentina lowered fisheries’ export tariffs to all processed goods made out of hake, squid and shrimp. The measure applies for six months and makes effective the promise from Economy Minister Amado Boudou earlier in the month.
US and Euro zone “dangerously close to recession” warns Morgan Stanley
The United States and Euro zone are “dangerously close to recession,” Morgan Stanley said on Thursday, criticizing policymakers and predicting the European Central Bank will have to reverse its rates policy.
Colombia/Canada launch FTA promoting agro-trade and mining investment
The Canada-Colombia Free Trade Agreement which took effect on Monday August 15 is Canada's fourth bilateral trade deal with a Latin American country and eliminates tariffs on a range of goods and services in an effort to facilitate trade and investment.
Fitch ratings sees a decade of opportunities for construction industry in Latam
According to a new report issued by Fitch Ratings, the magnitude of investments in infrastructure during the next decade will provide unprecedented levels of opportunity for Latin American construction companies with the outlook for most companies in the industry being positive.
Falklands’ resumes support for containerized international freight services
The Falkland Islands government and the local fishing industry have promised support for the maintenance of the containerised international freight services, which is expected to resume activities in the coming months.
