Venezuelan president Hugo Chavez announced he expected to sign an oil/gas alliance between Argentina’s YPF and PDVSA (Venezuelan Petroleum) when he meets with his peer Cristina Fernandez in Brasilia in the framework of the Mercosur extraordinary summit to officially incorporate the country as full member of the trade group.
As part of its “Malvinas noose tightening” policy the Argentine government is planning an international tender to offer licenses to explore for oil near the Falkland Islands, reports Buenos Aires main daily Clarin in its Monday edition, citing a letter to Congress by Cabinet chief Juan Manuel Abal Median.
The Uruguayan government announced it will auction next 3 September the seven Bombardier aircraft from the collapsed flag air-carrier Pluna, which was definitively grounded last July 5, announced Public Works and Transport minister Enrique Pintado.
Mexican regulators have imposed a fine of 27.5 million dollars on banking giant HSBC for its failure to comply with money-laundering regulations.
Profits at Spanish banking giant Santander have halved after it made more write-downs against unrecoverable loans secured against property. The bank, which is the Euro zone biggest, said first-half profits halved to 1.7bn Euros in the six months to the end of June.
Uruguayan president Jose Mujica strongly defended the incorporation of Venezuela to Mercosur and forecasted that in a short time the country will become Uruguay’s third trade associate, behind China and Brazil.
Brazilian President Dilma Rousseff said on Friday her government will unveil more measures to stimulate the economy in the next few months, including investments in ports, airports, railroads and highways.
Spain has for the first time conceded it might need a full EU/IMF bailout worth 300 billion Euros if its borrowing costs remain unsustainably high, a Euro zone official was quoted in the Madrid media.
The White House cut its outlook for US growth in 2012 and 2013 on Friday, hours after data showed the economy grew at a tepid pace in the second quarter, raising concerns about a slowdown that could mar President Barack Obama's re-election chances.
Russian President Vladimir Putin has an ambitious plan to cut his country's 3 billion dollars annual import bill for beef. He even aspires to return Russia's beef industry to its pre-revolutionary stature.