Investments

Investments
Tuesday, September 16th 2014 - 07:41 UTC

Norwegian company buys Acuinova Chile with 40.000 tons production capacity

Asset purchase includes a hatchery, a smolt facility, 36 sea water licenses and a primary and secondary processing facility, all located in Chile's Region XI.

Norwegian giant salmon-faming company Marine Harvest has announced an agreement to purchase assets of the former Chilean farming company Acuinova Chile SA, currently in bankruptcy, for 120 million dollars.

Tuesday, September 16th 2014 - 05:20 UTC

Santander new chairwoman confirms full control of the Brazil branch

Ana Botin, told shareholders at an extraordinary meeting she would defend the legacy of her father Emilio Botín at the helm of the Euro zone's biggest bank.

Spanish banking giant Santander under its new executive chairperson Ana Botin announced on Monday the purchase of the remaining 25% of Banco Santander Brasil which it did not already own.

Friday, September 12th 2014 - 01:43 UTC

China constructing a satellite tracking station in Argentine Patagonia

According to the Neuquen province minister Rodolfo Laffitte, the space antenna will be finished and ready to operate next February.

A space tracking station for lunar exploration being built in Argentine Patagonia by China, as part of the strategic relation and accords between the two countries, has caused concern in the Argentine congress because of the secrecy surrounding the terms of the deal.

Friday, September 12th 2014 - 01:39 UTC

Singapore Olam will invest 80m in dairy processing facility in Uruguay

The plant is expected to begin production in 2017 with a potential of a million liters per day

Singapore based Olam International's wholly-owned subsidiary New Zealand Farming Systems Uruguay will be investing 80 million dollars to establish a new dairy processing facility in Uruguay.

Thursday, September 11th 2014 - 04:30 UTC

Despite all the negative economic data, Argentina's stock market has almost doubled this year

Much of the money flowing into Argentina's Merval this year has come from wealthy Latin American investors

Despite all the negative news on government restrictions imposed on the Argentine economy and the shortage of hard currency, the country's Merval Index has skyrocketed almost 100% this year, the highest of any stock market in the world. It includes many of the largest companies in the country such as Telecom Argentina and Energy Petrobras, along with banks and a steel maker.

Tuesday, September 9th 2014 - 04:46 UTC

Uruguay opens second pulp mill with annual production capacity of 1.45 million tons

Mujica during the opening of the pulp mill that is the single largest investment in the country's history

Uruguay officially inaugurated on Monday a second pulp mill, Montes del Plata, on the River Plate, belonging to Chile's Arauco and Swedish-Finnish Stora Enso, which is considered the largest single investment in the country and will have an annual production of 1.3 million tons.

Friday, September 5th 2014 - 07:47 UTC

Argentine Senate approves bill changing debt payment jurisdiction; next step Lower House

“Sometimes there are court decisions that cannot be followed,” said Miguel Angel Pichetto, head of the government's coalition in the Senate.

Argentina's Senate on Thursday passed a bill aimed at circumventing U.S. court decisions regarding its defaulted debt by changing payment jurisdiction, sending the proposal to the lower house Chamber of Deputies for final approval. The chamber, like the Senate, is controlled by government allies who are expected to vote the bill into law.

Friday, September 5th 2014 - 07:33 UTC

NML Capital subpoenaed 18 banks in search of embezzled Argentine funds

Lead attorney for NML, Robert Cohen of Dechert, said  that the list of banks all have at least a presence in the United States

NML Capital Ltd, a creditor suing Argentina in the U.S. courts for full payment on defaulted debt, subpoenaed 18 banks last week in an effort to track down 65 million dollars in what it says is embezzled Argentine money laundered through the United States.

Friday, September 5th 2014 - 02:19 UTC

Bank of England leaves interest rate on hold at 0.5%; eyes set on minutes to be released 09/17

Bank governor Mark Carney has made clear that any rate rises would be small and gradual.

The Bank of England has held UK interest rates at a record low of 0.5% for another month. The size of the Bank's economic stimulus program - quantitative easing - was also unchanged at £375bn.

Friday, September 5th 2014 - 02:17 UTC

ECB cuts rates to record low and negative for overnight deposits; Euro/dollar slumps below 1.3

“The newly decided measures...will have a sizable impact on our balance sheet,” anticipated ECB President Mario Draghi

The European Central Bank cut interest rates to new record lows on Thursday, unexpectedly lowering borrowing costs to try to lift inflation from rock-bottom levels (deflation) and support the stagnating euro zone economy. The ECB cut its main refinancing rate to 0.05% from 0.15%.

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