Stories for August 11th 2012

Saturday, August 11th 2012 - 11:45 UTC

Uruguay will continue with Mercosur but is also interested in the Pacific alliance

President Mujica, a more flexible Mercosur is needed

Uruguay will continue “to look after” Mercosur in spite of the strong diplomatic discrepancies with Argentina, but will also continue with an interest in participating in other trade blocks of the region, said President Jose Mujica.

Saturday, August 11th 2012 - 11:38 UTC

Peru will host leaders’ summit of Arab and South America countries in October

Deputy Minister Baraún, an excellent opportunity to promote trade and investments

Peru will be hosting next October the III Summit of heads of state and government from South America and Arab nations which is expected to bring together 32 countries, according to Deputy Foreign Affairs minister Jose Beraún.

Saturday, August 11th 2012 - 11:26 UTC

“Two tough years” ahead for Uruguayan construction and real estate

Economist Caumont anticipates a strong devaluation of the Argentine currency

The Uruguayan construction industry faces tough years ahead because of the international crisis and its effects on neighbouring Argentina, forecasted economist Jorge Caumont who is also an advisor of several real estate agents.

Saturday, August 11th 2012 - 11:17 UTC

US consumers face dearer pork, chicken and beef because of the drought

Farmers would like to have ethanol production based on corn reduced

Pork and chicken will join beef on the menu of expensive meats as drought and US ethanol policy combine in a corn “disaster”, the head of the world’s largest pork producer has said.

Saturday, August 11th 2012 - 11:11 UTC

UK minister swims in tank of sharks to highlight campaign against ‘finning’

Minister Benyon swimming among sharks

UK Fisheries minister Richard Benyon has been swimming with sharks to highlight his desire to tighten the European ban on “finning”. Mr Benyon took the plunge into a tank of sharks at Sealife London Aquarium to launch a Shark Trust initiative calling for support to close loopholes in the EU ban on slicing off shark fins and discarding the bodies at sea.

Saturday, August 11th 2012 - 11:03 UTC

China only interested in commodities, not in products that reach supermarkets

De Mendiguren: virtues and drawbacks of trading with the Asian giant

Trade with China for Argentina has great opportunities but also great threats because the Asian giant is only interested in produce with no added value, warned the head of Argentina’s Industrial Union, Ignacio De Mendiguren.

Saturday, August 11th 2012 - 10:56 UTC

Bill Gates finances research project to improve corn yields

The idea is to use nitrogen-fixing bacteria instead of expensive fertilizers

Billionaire computer magnate Bill Gates is to fund a €8m research project into whether cereal crops can be genetically engineered with nitrogen-fixing bacteria.

Saturday, August 11th 2012 - 10:49 UTC

Argentina applies tax hike on bio-diesel exports and lowers price for local market

The tax which will go to 32% from 20% becomes effective Saturday

Argentina tightened its grip on the country's energy sector on Friday by ordering a tax hike on bio-diesel exports, a move it said was needed to make domestic fuel prices more affordable, but denied market rumours that it will increase a soybean export tax.

Saturday, August 11th 2012 - 10:45 UTC

Official (fantasy) inflation in Argentina 0.8% in July and 9.9% last 12 months

Indec CPI numbers have been questioned since 2007

Official consumer inflation in Argentina reached 0.8% in July accumulating 9.9% in the last twelve months and 5.9% in the first seven months of the year, according to the Indec statistics bureau.

Saturday, August 11th 2012 - 10:36 UTC

Bad day for vulture fund that was after 100 million dollars from Congo

 Peter Grossman

Britain’s Privy Council has ruled that a “vulture fund” cannot collect 100 million dollars from the Democratic Republic of Congo. Newsnight revealed last year that old Congo debts had been illegally sold to FG Hemisphere for 3 million and the fund had then sued in Jersey where they were awarded 100 million.


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