Reports from the European Union and Mercosur confirm that negotiations for a trade agreement remain at ‘technical level’ and no information will be forthcoming until both sides have agreed on the lists of products to be exchanged.
Chile will become the first developed country in Latin America, predicted Mexican communications mogul Carlos Slim, the richest man in the world, in an economic presentation given in Honduras last Thursday.
Brazil’s oil and gas corporation Petrobras was ranked first in a new listing of the most valuable brands in Latin America, with an estimated brand value of 13.4 billion US dollars.
Brazil will harvest this year a record crop of 158.7 million tons, 6% higher than last year’s 149.7 million tons, according to the latest release from the country’s Geography and Statistics Institute, IBGE.
Soybean crop prospects in Brazil and Argentina, the second- and third-biggest exporters of the oilseed behind the U.S., have improved, researcher Oil World said in a report Tuesday. Growers in Brazil will produce 73 million metric tons of soybeans, up from a record 68.7 million tons a year ago, and farmers in Argentina will harvest 49.5 million tons, up 1% from a prior estimate.
Argentine President Cristina Fernández de Kirchner announced on Tuesday that YPF energy company had made a large shale oil discovery in Neuquén province, a find that she considered to be of extreme importance, since “it will allow for us to maintain and further promote development” throughout the country.
China assured the United States that it will continue moving toward a more flexible Yuan exchange rate, a US Treasury official said on Tuesday. The announcement came as the Central bank set the Yuan reference rate at the strongest level since 2005.
China's trade surplus in April was nearly four times bigger than expected, with exports far exceeding imports. The trade surplus was 11.4 billion US dollars, according to the customs agency, whereas analysts had expected a figure of about 3 billion USD.
Standard and Poor's cut Greece's credit rating further into junk territory, reflecting growing doubts that the Euro zone's most fragile economy can manage its debt without imposing losses on private bondholders.
Chile approved on Monday the construction of a hydroelectric project that would flood Patagonian valleys and become the country’s biggest power generator, sparking violent protests.