For the first time the Falkland Islands have underlined the significance of the hydrocarbons industry as a fully integrated sector of the local economy as it effectively and successfully moves from the exploration to the exploitation stage with first shipments scheduled for 2017. At the same time it regrets that South American companies are not participating of the logistical opportunities because of Argentine interference.
Consumer prices in Paraguay dropped 0.3% during May which brings the accumulated five month inflation to 0.2%, reported the Central bank. The percentage is considerably lower than May a year ago when it reached 0.4% and had accumulated 3.2%. Twelve month inflation in May reached 0.9% which compares favourably with the 3.8% of a year ago
Denmark’s Vestas Wind Systems wind-turbine maker received a 90-megawatt turbine order from Compañia Forestal Uruguaya SA for the Pintado power plant in south centre Uruguay. The 30 3-megawatt turbines project will be serviced by the company for 15 years and the farm is expected to be operational by the second quarter of next year.
Brazil will pour 6.1 billion Reais (2.85 billion dollar) to fund renewable-power and bio-fuel technology research, accelerating its efforts to modernize its energy industry and shift away from a commodity-export based economy.
Argentina's nationalized energy company YPF will sue the head of Repsol SA over accusations that YPF's board members were overpaid when the Spanish oil major held a majority stake in the company, the government said.
Uruguay’s trade deficit climbed to over a billion dollars in the first four months of the year compared to 975 million dollars in the same period a year ago. So far this year the fall in exports has been stronger than that of imports, which has led to the 1.045 billion dollars deficit according to the latest stats from the Central bank.
Argentine tourists have staged a British invasion, with record numbers flying in to the UK in the last year, according to an article by Matt Chorley published in the Daily Mail. The influx of more than 100.000 visitors, up more than a quarter year-on-year, comes despite renewed tensions between the two countries over the status of the Falkland Islands.
Uruguayan economic officials have warned the ruling coalition Broad Front about the regional risk-situation in complex Argentina and stalled Brazil, and its influence on Uruguay which needs to lower its budget deficit and improve labour productivity and competitiveness.
The leaders of Mexico and China will meet for the second time in two months this week, a sign of deepening cooperation, even as the Latin American nation seeks to close a huge trade deficit. Chinese President Xi Jinping will be treated to a lavish two-day state visit in Mexico that begins on Tuesday, with an event at the Campo Marte military field with President Enrique Peña Nieto and a speech to Congress.
Paraguay is considering the announcement made by Uruguayan president Jose Mujica who suggested delaying the coming Mercosur summit in Montevideo scheduled for the end of June, ‘to wait and give time for Paraguay’ (currently suspended) to return to the block.