Brazil's Petrobras and its Indian partners have made a beautiful oil discovery off Brazil's northeast coast, Sergipe-Alagoas basin, and it will produce a minimum 100,000 barrels of petroleum a day starting in 2018, the company's CEO said on Friday.
Uruguay’s president Jose Mujica anticipated that his intention is to authorize the UPM pulp mill to expand production, as the Finnish company had requested, but conditioned to certain additional environmental measures, which will not be made public until talks with Argentine president Cristina Fernandez on Monday.
Brazil's jobless rate fell unexpectedly and salaries jumped in August from the previous month, government data showed this week. It was the second consecutive month-to-month drop in Brazil's jobless rate, which remains close to record lows.
New York Judge Thomas Griesa has ruled against Argentina's request to dismiss a lawsuit over the Central Bank (BCRA) reserves, which if upheld could allow holdout creditors to seize assets belonging to the country.
The Pacific Alliance made its official presentation in New York before 200 business people and investors, mostly from the US, with four top anchor men: the presidents of Chile, Peru and Colombia and Mexico’s foreign trade minister since head of state Enrique Peña Nieto had to remain in the country because of the catastrophic floods.
President Mariano Rajoy making the round of financial media in New York this week, said Spain had emerged from recession in the third quarter with estimated economic growth of 0.1% to 0.2% forecast and 0.5% to 1% in 2014.
By R. Viswanathan (*) - India should take its cue from Brazil and invest in ethanol as a viable commercial substitute for costly petrol.
Argentina is on track to harvest more wheat this season as greater acreage and coming warm weather should offset any yield loss caused by recent frosts that hit in the last days of the Southern Hemisphere winter.
The Brazilian industrial federation on Wednesday upped its 2013 growth forecast to 1.4% from 1% and its GDP growth projection from 2% to 2.4%. But, despite the better data, the National Confederation of Industry (CNI) urged caution. The improved economic outlook is no guarantee of a strong growth rate, it said.
The recent rain, wind and cold storm that severely punished Uruguayan farmers last week caused the death of 54.200 adult sheep. The sum from a survey conducted by the Uruguayan Wool Secretariat, SUL, almost doubles the original 30.000 estimate and does not include the recently born lambs.