Economy

• Friday, June 3rd 2011 - 07:53 UTC

  Korean group plans shipyard in south Brazil to cater “Malvinas” fishing fleet

  

  The Korean fishing group Insung signed this week an letter of intent with a Brazilian consortium for the construction of a ship yard in the Rio Grande/Pelotas area , state of Rio Grande do Sul, which could cater to the Korean fishing vessels operating in the “Falklands/Malvinas” area.

• Friday, June 3rd 2011 - 03:07 UTC

  Chile, Peru and Colombia launch second largest regional stock market

  

  Chile, Peru and Colombia formally combined operations of their stock markets on Monday to form the Latin American Integrated Market (Mercado Integrado Latinoamericano, or Mila).

• Friday, June 3rd 2011 - 02:02 UTC

  Argentina and Brazil agree on terms to unlock the bilateral trade conflict

  

  Argentina and Brazil agreed Thursday to abide by the 60-day retention period applied to products affected by non automatic tariff trade barriers and accelerate trade in the agricultural sector with the purpose of overcoming the conflict that erupted mid May and had virtually frozen bilateral operations.

• Friday, June 3rd 2011 - 01:56 UTC

  Rousseff tries to overcome internal rift and launches plan to eliminate extreme poverty

  

  Brazilian President Dilma Rousseff launched an ambitious plan to eliminate dire poverty in Brazil within four years by lifting more than 16 million people from conditions of “misery”.

• Friday, June 3rd 2011 - 01:52 UTC

  Chinese Vice-president arrives in Uruguay to sign 17 agreements

  

  China’s Vice-president Xi Jinping and tipped as a leading candidate to succeed President Hu Jintao will be visiting Uruguay June 7 to 9 as part of a tour that includes Italy, Cuba and Chile.

• Thursday, June 2nd 2011 - 09:44 UTC

  Mexico’s oil company sues US firms for trading stolen gas condensates

  

  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.

• Thursday, June 2nd 2011 - 09:36 UTC

  Argentina’s second biggest soybean producer expands in Brazil; plans shares sale

  

  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.

• Thursday, June 2nd 2011 - 09:02 UTC

  CFK invites Italian businesses to invest in Argentina; announces “new phase in relations”

  

  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.

• Thursday, June 2nd 2011 - 08:52 UTC

  US dollar looses 1.85% against the Uruguayan Peso in May; 7.44% in five months

  

  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.

• Thursday, June 2nd 2011 - 08:46 UTC

  Soaring imports push Uruguay’s trade deficit in the first quarter

  

  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%.