Uruguay and Argentina presidents Jose Mujica and Cristina Fernandez seem to have ironed out differences, at least in public and in the pictures, during the inauguration of a gasoline and diesel de-sulphuring plant in Montevideo, which was financed with Venezuelan funds and Argentine technology.
The Falkland Islands government is reviewing a tax return submitted by one of the oil companies currently operating off-shore the Islands and is confident a mutually acceptable outcome can be reached.
Falkland Islands lawmaker Dick Sawle is expected next week in Brazil where he will be meeting representatives from the business community, students’ organizations and share lunch with a group of members of Congress, announced British ambassador in Brasilia Alex Ellis.
Argentina lost on Friday its appeal of a ruling that would force it to pay in full holders of 1.3 billion dollars in defaulted debt when it makes a payment to investors who took discounted restructured bonds, opening the prospect for a US Supreme Court appeal, which if it happens will push the litigation into 2014.
Four London AIM listed oil companies carrying out exploration work in Falkland Islands waters have been barred from operating in Argentina. The measure affects Borders & Southern Petroleum, Desire Petroleum, Argos Resources and Falkland Oil and Gas.
Falkland Islands lawmakers at their final assembly on Thursday thanked Argentine President Cristina Fernandez for her, undoubtedly unintended assistance in getting the Falklands story publicized world-wide and in repeated headlines, reported the latest edition of the Penguin News in its front page.
Argentina's government this week awarded a 4 billion dollars contract for the construction of two hydroelectric dams to a consortium led by China Gezhouba (Group) Co. and which includes Argentine firms Electroingenieria SA and Hidrocuyo SA.
Brazil's President Dilma Rousseff has not yet discussed raising gasoline and diesel prices to support state-run oil producer Petrobras, said her spokesperson in response to local media reports on Thursday.
Brazil's development bank BNDES chief Luciano Coutinho said on Thursday that a sustainable exchange rate for the country would be between 2.2 and 2.35 Reais to the US dollar, which is currently trading at around 2.44.
Brazil's central bank announced a currency-intervention program on Thursday that will provide 60 billion dollars worth of cash and insurance to the foreign-exchange market by year-end, a move aimed at bolstering the country's currency, the Real which has slipped to near five-year lows against the dollar.