Argentina's Tecpetrol, part of the Techint Group, said on Thursday it would invest US$2.3 billion in the Vaca Muerta shale fields through 2019, the largest announcement in the formation in years. Tecpetrol said in a statement the investment was made possibly due to measures from President Mauricio Macri's government, including a deal with labor unions earlier this year and a definition of price supports this month.
The much publicized and controversial bid from an Argentine group to acquire a leading position in the Falkland Islands Holdings, which owns the Falkland Islands Company, closely linked to the Islands' history and economy, has been considered “a real hazard” by FIH directors.
Finance minister Nicolas Dujovne will be heading this week the largest Argentine business delegation to visit the UK in twenty years, jointly organized by the Argentine-British Chamber of Commerce with support from the Argentine foreign ministry and the embassy in London.
Brazil's finance minister has said that he is ready to listen to the U.S. policies on trade at this weekend's G-20 meeting but speaks from experience when he says he believes a free economy is better for everyone. Brazil actually has experience of closing down its economy, Henrique Meirelles said on Thursday.
Brazil awarded three European groups on Thursday the rights to operate four airports, drawing nearly double the minimum bids at an auction that underscored investors' appetite for a new wave of privatizations under President Michel Temer. German airport operator Fraport AG, French group Vinci SA and Zurich Airport bid a combined 1.46 billion reais (US$470 million) for the rights to run airports in Porto Alegre, Salvador, Fortaleza and Florianopolis.
The Falkland Islands government announced on Monday that it is currently in discussion with Premier Oil on a wide range of issues with the objective of progressing the Sea Lion development towards a successful project sanction.
Brazil's President Michel Temer launched an infrastructure concessions program on Tuesday that he said should raise 45 billion Reais (US$14.43 billion) in investment in building and operating roads, port terminals, railways and power transmission lines. Temer said the program was key to restoring an attractive business environment as Brazil struggles to emerge from its worst-ever recession.
A new unique food product was created by scientists at the Center for Research in Food and Development (CIAD) of Mexico: a protein-rich squid sausage and omega 3, which has up to 70% less fat, in addition to natural dyes and preservatives.
The Colombian National Infrastructure Agency (ANI) has cancelled a US$1.89 billion highway construction contract with Odebrecht. The Brazilian contractor is the majority partner in a consortium that won the 25-year public private partnership (PPP) contract in 2010.
When toymaker Estrela decided to move manufacturing capacity back to Latin America from China, it sank US$ 2 million into a new factory not in its native Brazil - the region's largest economy - but in its tiny southern neighbor Paraguay. The plant, which opened this month in the border town of Hernandarias, stands near a 4,500-hectare industrial park filled with Brazilian companies making everything from auto parts to clothing.