Roubini General Economics, RGE, founded by Nouriel Roubini the economist described as Dr. Doom for having predicted long before his peers the US financial and mortgage crisis said the Uruguayan government must apply additional measures to higher rates and bank reserves, to help contain inflation.
The scarcity of qualified labour and the increase in costs have become a growing concern for the pulp mill that Chilean and Scandinavian investors are building in Conchillas, Uruguay.
Brazil’s Vale Doce, the world’s biggest iron-ore producer, said it will invest 2.9 billion US dollars to increase the capacity of the Ponta da Madeira terminal in northern Brazil, making it the largest port in the country by volume.
Uruguay and Argentina have received interest from 39 companies to build infrastructure for a floating LNG terminal, a project they are fast-tracking to start operations by the end of 2013, a project adviser said Tuesday.
Brazil which gets about 80% of its energy from hydroelectricity is considering a record investment of 4.1 billion Real (2.5 billion USD) for wind farms this year to diversify its power supply.
The New York Times has joined the Aysén region project controversy in Chilean Patagonia which was recently approved but has triggered massive protests from environmentalists and an overwhelming rejection from the majority of the population according to public opinion polls.
GeoPark oil and gas company with operations in Latin America announced in a joint release the definitive sale of oil and gas exploration and production blocks in the south of Chile to the Korean conglomerate LG International Corporation.
Colombian state oil company Ecopetrol said it made a new discovery at a well in the south-eastern Caño Sur block, of which the company is the sole owner and operator.
The Mito-1 exploratory well yielded an average of 200 barrels per day of heavy oil in initial testing, Ecopetrol, which plans to drill another 10 wells at that block in the near future, said.
Argentina and Peru are the top recipients of Chilean overseas investments in the service sector according to report released last week covering a two decade period from 1990 to 2010.
US agricultural processor Archer Daniels Midland Co said this week it was building a grain export terminal in Nueva Palmira, Uruguay, capable of loading large bulk shipments of corn, wheat, soybeans and soy-meal.