For the second year running London is Europe's top city in terms of prospects for economic growth in an overall outlook for European property which is described as good despite the credit crisis, according to the ninth European regional Economic Growth Index released Tuesday by LaSalle Investment Management.
Portuguese pulp and paper maker Portucel will decide before the end of the year whether it will build a plant in Uruguay, government representatives announced. This would become the fourth pulp mill to be established in Uruguay.
Uruguay announced Friday that the Botnia-Orion pulp mill, which has been at the heart of an ongoing bitter controversy with Argentina, is set to begin production in mid November conditioned to the finishing of a bicycle lane and an alternative water intake for the plant.
Computer giant Microsoft is getting into the telephone business. Chairman Bill Gates was in San Francisco for the official launch of software linking a person's phone, computer and other communications devices.
Brazil's Petrobras, Venezuela's PDVSA and two Argentine groups are interested in acquiring US oil coporation Esso assets in South America, reports El Cronista, a business newspaper from Buenos Aires.
Uruguayan representatives of Britain's Breeders & Packers announced this week in Montevideo plans for an abattoir with an annual capacity of 320.000 head of cattle bred in feed lots involving investments of over 100 million US dollars.
Chile's Mining Minister Karen Poniachik disclosed Monday that Chile is anticipating 17 billion US dollars on new gold and copper mining investment in the next five years. Poniachik said the new cash infusion is needed to replace existing mines whose reserves are running out and to bolster output.
Global liquidity in recent years has led to a boom, --and speculation--, in real estate and farming land in Mercosur member countries. Argentina, Brazil, Uruguay and Paraguay have seen land prices soar pushed by foreign buyers and now governments are reacting tightening restrictions on land ownership.
Ecuador offered on Friday to rework the contracts of foreign oil companies that object to a decree sharply reducing their share of windfall oil revenues. President Rafael Correa surprised companies on Thursday by decreeing that the government will take 99% of the profits gained when oil prices rise above contracted levels. Previously, it was a 50-50 split.
ArcelorMittal the world's largest steel group announced plans to offer 542 million US dollars to take over Argentina's Acindar and increase its presence in Latinamerica.