Petroleos Mexicanos; Pemex, sued 11 US firms over claims they helped Mexican drug cartels smuggle and re-sell more than 300 million USD in natural gas liquids stolen from Mexico’s northern oilfields into the U.S.
Argentina’s second- biggest soybean producer Los Grobo, plans to transfer some assets to a new company and sell shares of the business in an initial public offering in Brazil.
Argentine president Cristina Fernandez de Kirchner invited Italian business-people to invest in Argentina underlining the close links between the two countries and the fact her visit was the re-launching of normal relations after a decade.
The US dollar continues to slide in the Uruguayan foreign exchange market having lost 1.85% in May vis-à-vis the Uruguayan peso, completing the steepest monthly drop so far in 2011.
Uruguay’s trade balance registered a deficit of 790 million US dollars in the first quarter of the year, according to the latest data from the central bank. Exports totalled 1.681 billion USD, up 30.5% over the previous year while imports totalled 2.470 billion USD, up 49.5%.
Argentina's Senate on Wednesday passed a bill called for by President Cristina Fernandez, CFK, to toughen financial controls and meet global standards on fighting money-laundering.
The Argentine Lower House passed a law that bans smoking in public spaces and forbids advertising, promoting and sponsoring tobacco companies and forces manufacturers to include warnings on the back of all cigarette packs detailing the harmful effects of smoking on health.
Barclays Capital expects the administration of President Cristina Fernandez might issue bonds on international credit markets towards the end of this year in a bid to prop up Argentina's fast-growing economy.
Brazil's environment agency gave its definitive approval Wednesday for construction of the Belo Monte hydroelectric dam, a controversial 17 billion US dollars project in the Amazon that has drawn criticism from native Indians and conservationists.
Uruguay’s fiscal deficit increased 0.7 percentage points of GDP in April reaching 1.6% of GDP in the accumulated twelve months, reports the Ministry of Economy and Finance. The 1.6% of GDP is the fiscal budget deficit target established by the government for the whole of 2011, which was recently increased.