Brazilian officials ditched expectations of a tumble in wheat imports to a multi-year low after a surprisingly strong finish to 2016 for buy-ins, encouraged by a recovery in the real and state purchases of domestic supplies. Conab - which a month ago slashed its forecast for Brazil's wheat imports in 2016-17 [on an August-to-July basis] to 5.10m tonnes, the lowest since at least the mid-1990s – this week revised its forecast sharply upwards, to 5.95m tonnes.
Petrobras’ average oil production in Brazil in 2016 went up 0.75% in comparison to the previous year and reached 2,144,256 barrels per day. According to the company, the result was in line with the established target of 2.145 million and represents an annual all-time high.
Brazilian prosecutors on Thursday filed corruption charges against Decal do Brasil co-founder Mariano Marcondes Ferraz, accusing him of bribing a former executive at state-run oil company Petrobras to win contracts for Ferraz's own firm.
Argentina struck an 18-month financing deal worth US$6 billion with six banks on Thursday, Finance Minister Luis Caputo told reporters, saying the government planned to tap international capital markets for US$10 billion in 2017. Sovereign bond issuance will start on Jan. 19, with a sale of US$3 billion to US$5 billion in U.S. dollar-denominated paper.
Falkland Islanders can expect a total of 46 minefields cleared over the next two years in the Mount Longdon and Stanley area confirmed a Foreign and Commonwealth Office delegation in the Falklands this week. Mines are the long lasting and unwanted legacy of the 1982 war.
Former Brazilian President Lula da Silva, confirmed Wednesday that “he is preparing” to run for the presidency in 2018, should it “be necessary.”
The comprehensive Double Taxation Convention between Uruguay and the United Kingdom has taken effect from 1 January 2017.