Argentina's Merval benchmark stock index climbed 3% on Tuesday to finish at a record high of 5,696.2 points, following a strong hike in YPF and Edenor stocks. YPF shares soared 11%, while electricity distributor Edenor saw prices close 19% up at the end of trading.
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.
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.
FIFA boss Sepp Blatter on Friday hit back at criticism over work conditions on World Cup venues in Qatar, accusing European companies and saying France and Germany pushed the bid for economic interests.
Airport operators from Singapore, Germany, Switzerland and Brazil on Friday won rights to run airports in Rio and Belo Horizonte, two host cities of the 2014 World Cup. One consortium including engineering firm Odebrecht and Singapore airport operator Changi paid 19 billion Reais (8.24 billion dollars) for a 25-year concession to run Rio's Galeao airport at an auction held at the Sao Paulo stock exchange.
Finland's UPM/Botnia plant, which is an ongoing motive of dispute with Argentina is planning a second pulp mill but to the east of Uruguay, announced Vice-president Danilo Astori, confirming a previous statement from the First Lady and Senator Lucia Topolansky.
United States sided with Spain's Repsol position in the dispute over the seizure of a majority stake in YPF by the administration of Argentine President Cristina Fernandez last year, a dispute which remains unresolved over compensation for the assets.
Long gone are the days of easy money, so it seems. Junior energy companies are finding today’s capital to be more expensive and harder to access. In the current market, juniors are fighting an ongoing battle just to balance sustainable growth, manage debt, and to compete with peers for dollars that just aren’t there. When assessing a junior, one must look at how they put their budgets together and maintain them if they’re to survive out there in the wild.
The Uruguayan government sent a draft law to parliament Tuesday that would ban the ownership of land by companies if they are in any way linked to foreign countries. The measure states it aims to avoid the risk of foreign states breaching the sovereignty of the Uruguayan state in the absence of appropriate regulations and occupying a significant position in agricultural activity.
OPEC said on Tuesday its rivals will produce more oil than expected this year, as it continued backpedaling from its previous skepticism over the significance of a US shale boom. The views of the Organization of the Petroleum Exporting Countries show it is narrowing its differences with oil consumers on the impact of resurgent North American output.