Spain’s Repsol inaugurated on Thursday, a month before schedule, a new module of its gas processing plant in Margarita in the south of Bolivia which will allow the company in three weeks, to significantly increase its production and delivery to Argentina, its main client.
The bilateral conflict between Argentina and Uruguay over the UPM/Botnia pulp mill, on the Uruguayan side of the Uruguay River is once again leading to tension between the two neighbours amid reports that the plant’s Finnish owners plan to increase production from 1.1 to 1.3 million tons of cellulose paste per year.
“We have come for people-to-people contacts, to talk about business opportunities and for the resumption of the close and historic links between the Falkland Islands and Uruguay”, repeated Falklands’ lawmaker Dick Sawle during one of his many presentations in Montevideo.
South Africans working at the British Overseas Territory of St Helena airport have gone on strike, in what is thought to be the first industrial action on the island in half a century, according to the local news. It is understood they are in dispute over employment terms and conditions.
Microsoft has agreed a deal to buy Nokia's mobile phone business for 5.4bn Euros. Nokia will also license its patents and mapping services to Microsoft. Nokia shares jumped 35% on the news, whereas Microsoft's fell more than 5%. The purchase is set to be completed in early 2014, when about 32.000 Nokia employees will transfer to Microsoft.
YPF Chief Executive Officer Miguel Galuccio said Argentina’s nationalized energy company is willing to form a partnership with Mexico’s state-run Petroleos Mexicanos to develop shale oil and natural gas deposits in the Vaca Muerta formation.
Vodafone has sold its 45% stake in Verizon Wireless to US telecoms group Verizon Communications in one of the biggest deals in corporate history. The 130bn dollars deal was announced by Vodafone after the close of trading on the London Stock Exchange.
Uruguay has ceased to be the magnet for Argentine funds looking for safe places to save and real estate investments since the Argentine revenue service AFIP, following on the neighbouring countries tax-data exchange agreement, could have access to that information, according to Uruguayan private financial and investment advisors.
Falkland Islands Argos Resources oil and exploration company have said that they are extremely well placed to participate in the next round of exploration drilling in the Falklands and they are continuing to consider various ways to finance drilling.
Falkland Islands member of the Legislative Assembly Dick Sawle will be in Montevideo 2-6 September, after spending a week in Brazil involved in business, academia and informal political contacts sponsored by the Foreign Office. In Uruguay according to the official release MLA Sawle will inform about business opportunities with the Falklands and to strengthen the historical ties with Uruguay.