Falkland Island Holdings PLC announced on Monday that its pre-tax profit increased slightly in its first half as strong sales at the company's London-based Momart operations offset increased costs at its Falkland operations. The international services group, which focuses on transport and logistics, said its underlying profit before tax was up 14.8% to £ 1.37 million for the six months ended September 30 compared to £ 1.19 million the previous year.
The dispute between the Argentine government and Repsol over the seizure of a 51% stake in petroleum company YPF has shown some signs of cooling, with the Ministry of Economy announcing on Monday that an agreement in principle for compensating the Spanish corporation had been reached.
The agreement reached by the world powers with Iran regarding its nuclear plans could have a positive impact for Uruguay, (and the region) since the regime of Teheran has been for years a strong client of Uruguayan rice and other products.
The high operational costs in the ports of the region is having a negative impact for the cruise industry and some of the companies have already withdrawn vessels from the South Atlantic routes, warned Mediterranean Shipping Company, MSC and Royal Caribbean during a regional conference on the industry sponsored by Uruguay's Ministry of Tourism.
Jaguar Land Rover plans to build a 500 million dollars manufacturing plant in Brazil, the O Globo newspaper reported on Sunday. The daily wrote that the Rio de Janeiro factory will be the company's second production facility outside Britain, in addition to one China. It also has an assembly plant in India.
Argentine Cabinet Chief Jorge Capitanich announced on Friday the government sent a bill to Congress raising taxes on luxury goods such as premium model cars, recreation boats, motorbikes and aircraft, and underlined that ”those who want to buy luxury goods will have to pay more,” he warned.
The US Federal Reserve officials said they plan to begin trimming the central bank's stimulus efforts in the coming months. They believe that the US recovery is strengthening, according to minutes their October meeting.
Fiat Argentina CEO Cristiano Rattazzi said that Argentina is on fire because of inflation and called on the newly appointed cabinet chief Jorge Capitanich and Economy minister Axel Kicillof to work hard to bring inflation down.
Argentina's flag carrier Aerolíneas Argentinas CEO Mariano Recalde said that the company's goal, as requested by president Cristina Fernández, was to provide a quality service over profit.
The United States Senate Banking Committee approved on Thursday Janet Yellen's nomination to become the first woman to lead the Federal Reserve, sending it to the full Senate for a final vote. If she is confirmed, as is widely expected, the current No. 2 at the central bank will replace its chairman, Ben Bernanke, when his term expires on January 31, making her the most powerful woman in world finance.