Committees of Argentina’s Lower House of Congress began a plenary session on Thursday in order to clear the YPF expropriation bill for debate, which was approved early morning by the Senate.
The IMF warned Latin America on Wednesday that favourable economic conditions are not for ever and called on the region’s countries to “rebuild defences” ahead of an uncertain economic future.
The processes of concentration, foreign ownership and land degradation came to be a central concern of supranational bodies and NGOs that warn, like the United Nations Organizations for Food and Agriculture Organization (FAO), of the “negative effects of these phenomena on food security, agricultural employment and the development of family farming.”
Three of Brazil's leading companies said on Wednesday they are increasing investment and exploration in Peru's natural gas sector as the country prepares to build a new pipeline and petrochemical plants.
Chairman Ben Bernanke on Wednesday said US monetary policy was more or less in the right place even though the central bank would not hesitate to launch another round of bond purchases if the economy were to weaken.
European Commission Deputy Director General for Enterprise and Industry Daniel Calleja warned on Wednesday that Europe has lost its trust in Mercosur trade block after the government announced it would expropriate 51% of YPF shares, owned by Spanish oil company Repsol.
Three Argentine ministers denied as “false” that YPF, under control of Spain’s Repsol had invested more than 20 billion dollars in the company since 1999, arguing the fall in Argentine oil and gas production and reserves is clear evidence of that.
The biggest-ever pipeline of copper projects is under threat as Chile, the world's top producer, struggles to contain rising opposition to new power plants.
The US Federal Reserve on Wednesday repeated its promise to leave interest rates on hold until at least late 2014 but offered few clues into whether it might offer additional stimulus later this year.
The US government announced it was getting into the commodities game in an effort to protect consumers from some of the geopolitical factors spilling over into the retail gasoline market. OPEC and the IEA both said in their monthly reports that market perceptions were behind higher energy prices, not physical shortages.