Tuesday, May 31st 2011 - 07:58 UTC

Hyundai Group signs agreement to build industrial lifts plant in Brazil

Hyun Jeong-eun, chairwoman of Hyundai Group, and Governor Tarso Genro (L)

The first Asian factory of industrial and residential lifts in Brazil will be built in the southern state of Rio Grande do Sul, it was announced Sunday in Seoul, Korea by the Hyundai Group.

Tuesday, May 31st 2011 - 07:47 UTC

Brazil plans massive infrastructure investment in next four years

Luciano Coutinho, head of the BNDES, Brazil’s pivotal bank in support of Brazilian corporations

Brazil’ president of the Economic and Development Bank, BNDES, Luciano Coutinho said that the country’s investment rate in the coming four years will be equivalent to 23% of GDP, sufficient to ensure a sustained robust long term growth of Latin America’s largest economy.

Tuesday, May 31st 2011 - 07:13 UTC

Falklands’ Desire Petroleum completes 3D seismic program; encouraged by new prospects

Chairman Stephen Phipps committed to continue

The Falklands oil company Desire Petroleum announced Tuesday it had completed the acquisition of 3D seismic program over an area of 1.416 kilometres with initial indications of encouraging new prospects.

Monday, May 30th 2011 - 05:33 UTC

Miami Herald sells HQ in downtown to a hotels and cruise line group

The Malaysian group owns 50% of Norwegian Cruise Lines

The publishing company of the Miami Herald, McClatchy Co. (MNI) sold a 14-acre parcel of Miami prime land for 236 million US dollars to Genting Malaysia, a sale begun six years ago by then- independent Knight Ridder Inc.

Monday, May 30th 2011 - 02:39 UTC

Latam’s largest bank has requested to operate in Uruguay as commercial bank

Banco do Brasil has been expanding aggressively overseas, including the US.

Banco do Brasil, Latin America’s largest financial institution has requested a licence to operate in Uruguay as a commercial bank according to the Brazilian government’s news agency.

Friday, May 27th 2011 - 22:37 UTC

Chile’s pulp giant Arauco trebles profits in first quarter of 2011

Arauco this week begun construction in Uruguay of another pulp plant

Chile’s Arauco the forestry and pulp unit belonging to the Copec group, trebled profits in the first quarter boosted by higher international prices and sale volumes particularly pulp, according to the company’s latest financial report.

Friday, May 27th 2011 - 12:38 UTC

Impact investment fund targeting low-cost housing in Brazil launches in London

David Palumbo, Director of Origen Private Equity Ltd.

Origen Private Equity Ltd., a boutique investment firm headquartered in London, is launching in June what is set to be the first impact investment fund developing low-cost housing in north-east Brazil in conjunction with the Brazilian government's Minha Casa Minha Vida programme.

Friday, May 27th 2011 - 08:48 UTC

Real estate operations in Punta del Este reached 2.25 billion USD in 12 months

The Atlantic resort ever more attractive for investors and Mercosur tourists

Real estate operations in Uruguay’s hottest resort and leisure farms’ area totalled 2.55 billion US dollars in the twelve months to April 2011, equivalent to daily deals involving 7 million USD.

Friday, May 27th 2011 - 08:44 UTC

Roubini forecasts Uruguay needs additional measures to contain inflation

Growth in 2011 will be speared by a robust domestic demand

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.

Thursday, May 26th 2011 - 19:53 UTC

Construction of Uruguay’s second pulp mill begins with concern on costs in Pesos

Erwin Kaufmann, General Manager of the Montes del Plata project

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.


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