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.
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.
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.
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.
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.
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.
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.
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.
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%.
With Brazil battling recession and inflation a month away from the presidential election, the Central bank kept its key interest rate on hold at 11%. Traders and analysts had forecast no change and the central bank's monetary policy commission (Copom) duly decided to leave all quiet following its monthly two-day meeting.