Stories for April 26th 2012
Three of Brazil's leading companies said on Wednesday they are increasing investment and exploration in Peru's natural gas sector as the country prepares to build a new pipeline and petrochemical plants.
Loan delinquencies at Brazilian banks fell in March for the first time this year, a sign that households are reining in debt to get current on their obligations, central bank data showed on Wednesday.
Brazil will get US advanced technology transfers if it buys Boeing's F/A-18 Super Hornet fighter jet to upgrade its air force, visiting US Defence Secretary Leon Panetta said on Wednesday.
Tens of thousands of students took to the streets in Chile in support of education reform. Organisers said at least 50.000 marched in the capital Santiago on Wednesday, with police saying 25.000 attended.
Chairman Ben Bernanke on Wednesday said US monetary policy was more or less in the right place even though the central bank would not hesitate to launch another round of bond purchases if the economy were to weaken.
As usual the Argentine people will suffer the most, victims of a “cheap nationalism” seduction inspired in the “Venezuela process”, says the latest edition of Veja, Brazil’s weekly magazine with the largest circulation, in an article dedicated to the seizure of YPF from Repsol.
Uruguay has began works in the extension of a pier in the port of Montevideo to cater the cruise industry which should be ready for the next season 2012/13 when the country will also become a hub for the exchange of passengers.
Argentina once again warned oil companies considered by the Government to be “illegally operating” in the Falklands/Malvinas Islands, and reiterated it will press charges against them unless they justify their actions before next Wednesday, May 2.
European Commission Deputy Director General for Enterprise and Industry Daniel Calleja warned on Wednesday that Europe has lost its trust in Mercosur trade block after the government announced it would expropriate 51% of YPF shares, owned by Spanish oil company Repsol.
Three Argentine ministers denied as “false” that YPF, under control of Spain’s Repsol had invested more than 20 billion dollars in the company since 1999, arguing the fall in Argentine oil and gas production and reserves is clear evidence of that.