Brazilian state-controlled oil company Petrobras reported its largest quarterly earnings in two years as crude prices rose and the government allowed it to sell fuel at a profit in the domestic market. Petrobras posted a 4.5 billion reais net profit (US$ 1.4bn) in the January to March period, reversing a 1.25 billion reais loss (US$ 400 million) in the first three months of 2016.
JP Morgan, the US investment bank, has bought a new office building in Dublin that can accommodate up to 1,000 staff. The bank said the purchase reflected its thriving existing business in Dublin, where it employs 500 staff, however the new office may provide space for hundreds of JP Morgan workers that it plans to relocate from London following the Brexit decision.
Argentine president Mauricio Macri, First Lady Juliana Awada, and members of the official delegation were received on Sunday by Chinese president Xi Jinping and his wife at the Great Palace of the People, where they were hosted together with 27 world leaders in the framework of the One Belt, One Road, OBOR, Beijing's ambitious international cooperation forum.
Argentine president Mauricio Macri and a delegation of ministers and governors, are off for an Asian tour in search of investments that includes the Arab Emirates, China and Japan. The undertaking is looking for billions of dollars to help develop Argentina's infrastructure.
The president of the Government of the Spanish region of Galicia, Alberto Núñez Feijoo, announced a strategic plan for the canning industry that will consolidate the sector in the gourmet markets and maintain Galicia as world leader in the field.
President Mauricio Macri met on Monday midday with his Italian counterpart, Sergio Mattarella, who is in Buenos Aires on the first official visit by an Italian president to Argentina in 16 years. The two leaders underlined the unique links between Italy and Argentina and announced the re-launching of diplomatic and trade relations.
The Euro has risen after pro-EU Emmanuel Macron won France's presidential vote by a large margin. The single currency strengthened 0.2% against the dollar as investors were reassured over the future stability of the European project. Macron has proposed cutting corporation tax and changes to the labour market.
Argentina and China will sign next 17 May in Beijing a contract for the construction of two new nuclear powered plants, with an investment of US$ 12.5 billion, according to Argentina's Nuclear energy deputy secretary, Julian Gadano.
Container shipping company Maersk Line will pay EUR 3.7 billion for its acquisition of smaller German rival Hamburg Sud, including all subsidiaries and associated shipping companies. The boards of Maersk Line and the Oetker Group, owner of Hamburg Sud, approved the proposed deal, which has been given the green light by the European Commission and the US Department of Justice.
“Good progress has been made in the discussions between the Government of Uruguay and UPM concerning the infrastructure development and other local prerequisites for long-term industrial growth in Uruguay. We are now in agreement regarding the majority of the key items on the negotiation agenda,” says Jaakko Sarantola, Senior Vice President, UPM, Uruguay Platform.