Venezuela in 2012 became a net importer of gasoline as a result of escalating problems at its refineries and increasing demand for fuel in its internal market, joining a growing list of countries that struggle with fuel supplies despite ample oil reserves.
Latin America and the Caribbean received last year a record 173.361 billion dollars in foreign direct investment (FDI) (6.7% more than in 2011), despite an international context characterized by shrinking FDI flows worldwide, according to the United Nations Economic Commission for Latin America and the Caribbean (ECLAC).
Brazil’s Roberto Azevedo vowed to revive the deadlocked World Trade Organisation, as he was confirmed this week as the incoming leader of the body which sets the rules for global commerce.
An Argentine appeals court threw out the fines that Domestic Trade Secretary Guillermo Moreno had slapped on private firms that issued inflation estimates that were much higher than the government’s official rate.
The claim that more Falklands veterans have killed themselves since the war ended than died in action is not borne out by statistics, a study says. Some 255 UK personnel died in action, but a veterans group has said the suicide toll since 1982 exceeds that.
In a decision that drew sighs of relief from the biotechnology industry, the US Supreme Court ruled that an Indiana farmer violated agribusiness company Monsanto Co’s patent for a type of soybean. The court agreed unanimously with Monsanto that Vernon Bowman, 75, had performed an end-run around the law when he used the company’s patented soybean seeds without seeking a licence.
Venezuelan president Nicolas Maduro said he is prepared for political dialogue with the leader of the opposition Henrique Capriles to ensure peace in the country, even if it means “talking to the devil”. He also warned that United States must “give a huge leap forward” if relations as equals are to be advanced between Caracas and Washington.
Trading of the ‘blue’ or parallel dollar in Argentina remained flat on Monday for a second day following last week’s events when the 10 Pesos barrier was broken and the government reacted with a tax amnesty or whitewashing draft bill promising all dollar assets holders a new clean record and no questions asked if they turn their greenbacks into government bonds or promissory notes.
By PM David Cameron - The Wall Street Journal - Britain and America have a proud history of working together to meet the great challenges of the day. Ours is a partnership without parallel, rooted in our values of freedom and enterprise—advancing not just Britain’s and America’s interests but the good of people around the world.
Brazil’s state-controlled oil firm Petrobras sold 11 billion dollars of global debt on Monday in the largest-ever bond offering by a Latin American company. The deal was split in six tranches comprised of fixed- and floating-rate debt with maturities ranging from three to 30 years, according to a report from Thomson Reuters.