Uruguay announced it will invest 150 million dollars for the eradication of shanty towns, 90% of which are located in Montevideo, half of them in contaminated and flood-prone areas.
Following the agreement which raised the Argentine minimum wage by 25%, equivalent to 549 dollars per month, business leaders and representatives from the labour unions admitted that when it comes to salaries negotiations the official inflation index from the government statistics office, Indec, “is not taken into account”.
The Argentine automobile industry will expand its production capacity to a million units annually by 2012 following on the expected record production of 840.000 this year boosted by domestic demand and exports to brazil, said Anibal Borderes president of the country’s Automobile Manufacturers Association, Adefa.
Brazil Securities and Exchange Commission, CVM, expects to have ready by the end of the year a regulatory framework for risk rating agencies with the purpose of improving the quality of their analysis, said Maria Helena Santana, president of CVM.
Delta Air Lines Inc. agreed to buy 100 Boeing Co. 737 single-aisle jets with a catalogue value of 8.5 billion dollars as the carrier postponed plans to buy another 100 smaller jets from Brazil’s Embraer SA or Canada’s Bombardier Inc.
US billionaire Warren Buffett's company Berkshire Hathaway has announced it is investing 5 billion dollars in Bank of America. News of the famous investor's move sent Bank of America's shares up by 25%, before moving back to 10% ahead.
Mexican billionaire Carlos Slim spent 8.8 million dollars to boost his stakes in Saks Inc. and New York Times adding to his biggest US holdings as the stock market slumped last week. Saks gained the most in almost a year.
The commerciality of the Falkland Islands Rockhopper Exploration’s Sea Lion oilfield development shouldn’t be significantly impacted by logistical problems arising from Argentina’s claim over the sovereignty of the Islands, according to analysts at the Royal Bank of Scotland.
Monday morning Rockhopper Exploration announced the spudding of its latest exploration well, 14/10-7, to further test the Sea Lion oil discovery in Falkland Islands waters.
After a year without any obvious movement on the idea of a new deep sea port for the Falkland Islands it seems that the idea is alive and well and being pursued, quietly in the background. The estimates for such a project vary up to £ 50, £ 60 million.