Stories for June 5th 2012
Brazil/Argentina Mercosur differences can be overcome with ‘greater production integration’
Trade differences between Mercosur leading partners Brazil and Argentina will be overcome with negotiations and promoting productive integration, coincided business people, diplomats and academics from both countries at a seminar in Rio do Janeiro.
Brazil re-assessing its 3bn dollars potash project in Argentina due to ‘political risk’
Brazil’s Vale Doce, the world's second-largest miner, expects to overcome obstacles that prompted management to re-assess a 3 billion dollars potash project in the Argentine province of Mendoza, the company's head of fertilizers, Roger Downey, said.
Santander bank chief praised Brazil as “the place to be to make business”
Emilio Botin president of Santander, Spain’s largest bank and one of the leading EU financial institutions said that Brazil is the top priority for the group since it is the source of 30% of its global earnings and anticipated the opening of more branches in merit to the country’s economic stability and social progress.
Uruguay lost competitiveness for sixth month running in April with main trade partners
External competitiveness of Uruguayan goods dropped for the sixth month running in April because locally produced goods’ prices in US dollars dropped less than those of its main trade partners according to figures released by the Central bank.
Paraguayan president and former bishop admits fathering a second child
Paraguayan President Fernando Lugo admitted on Tuesday fathering a second child when he was a Roman Catholic bishop, in an apparent effort to limit damage from the latest paternity scandal to emerge during his four-year-old presidency.
G7 members agree to work together to deal with Spain’s financing problems
The Group of Seven finance chiefs agreed in a teleconference call to work together to deal with the problems hitting Spain and Greece, Japanese Finance Minister Jun Azumi said on Tuesday.
Uruguay’s inflation kept climbing in May reaching an annualized 8.06%
Uruguay’s inflation climbed in May to an annualized 8.06% the highest so far this year, according to the Statistics Office release on Tuesday. In May consumer prices were up 0.39% over April accumulating 3.82% in the first five months of the year, which makes the annual target of 4% to 6% hard to achieve.
Chile tells Morales “it will not yield sovereignty over any piece of territory”
The Chilean Executive secretary general Andres Chadwick gave full support on Monday to Foreign Affairs minister Alfredo Moreno decision of not attending the Sunday session at the OAS General Assembly in Cochabamba where Bolivian president Evo Morales called for a sovereign sea outlet for his land-locked country.
Argentina in Bolivia after strong OAS declaration in support for Falklands’ claim
Argentina’s Foreign Affairs minister Hector Timerman has a challenging and fragile mission in Bolivia: to obtain strong support from the OAS general assembly for Argentina’s claim over the Falklands/Malvinas’ sovereignty ahead of the UN decolonization meeting in New York which President Cristina Fernandez has promised to attend.
New car sales balloon and housing market stalls with Argentina’s “clamped dollar”
Trading in the Argentine money exchange market on Monday was relatively calm with very few operations in the so called ‘blue’ or ‘parallel’ dollar but with none of the expectations announced by members from President Cristina Fernandez administration.
