Stories for August 6th 2012
Venezuela’s government oil corporation, PDVSA, in considering with Argentina’s YPF exploring for oil and gas in the area next to Falkland/Malvinas waters, revealed the president of the corporation and Minister of Petroleum and Mining.
Argentine Industrial Union head José Ignacio de Mendiguren says he wholeheartedly agrees with President Cristina Fernández criticism to those who back a devaluation of the Peso, in an interview with Ambito.com.
Chile's government re-drafted a sweeping tax reform bill aimed at helping fund an education overhaul, removing criticized benefits for higher earners as it seeks to help its passage through Congress ahead of key local elections.
Actor Sean Penn joined President Hugo Chavez at an election rally in Venezuela on Sunday, bringing a dash of Hollywood to the campaign as he rode with him atop a truck past cheering supporters.
Brazil state-controlled oil company Petrobras reported a net loss of 1.35 billion Reais (some 633 million dollars at the current exchange rate) in the second quarter, attributing the result to the depreciation of the Real relative to the dollar.
The slowdown in Latin America’s once booming economies could take a heavy toll on profits for Spanish and Portuguese companies whose two-decade investment spree abroad has provided a lifeline during a deepening crisis at home.