Investments

Investments
Thursday, May 8th 2014 - 04:57 UTC

Repsol sells YPF stake for 1.25bn dollars to Morgan Stanley; keeps 0.5% share

A 'strategic' decision said Repsol that recently settled the seizure of YPF with the Argentine government

Spain's Repsol oil and gas company says it has sold an 11.86% stake it owned in Argentina's YPF energy company to Morgan Stanley for 900 million Euros (1.25 billion dollars), effectively leaving it without a stake in a company it once controlled.

Tuesday, May 6th 2014 - 21:29 UTC

Uruguay to sign agreement with Brazil to boost the naval construction industry

Minister Kreimerman made the announcement during the launching of a barge with 5.000 tons capacity for the pulp industry

Uruguay and Brazil will be signing this month an agreement to promote the development of Uruguay's naval construction industry, which has been described as one of the fastest growing sectors of the economy, said Industry and Energy minister Roberto Kreimerman in Montevideo during the launching of a barge for the pulp industry.

Saturday, May 3rd 2014 - 06:18 UTC

Uruguay interested in joining negotiations to liberalize trade in services

Minister Almagro committed by writing Uruguay's interest and acceptance of the negotiations' results

Uruguay has expressed an interest in actively participating in negotiations to liberalize trade in services in the framework of TISA, Trade in Services Agreement which recently held its seventh round of talks in Geneva.

Friday, May 2nd 2014 - 10:00 UTC

Uruguay confirmed a third pulp mill with construction beginning in 2017

Montes del Plata should be opening sometime during May

Uruguay has confirmed a third pulp mill to be built to the north east of the country in Cerro Largo, while the second one, Montes del Plata on the River Plate and recently finished is to be formally inaugurated sometime between May 15 and 25, although production will be delayed for a few months since the second wharf is unfinished and the effluents plant non commissioned.

Friday, May 2nd 2014 - 09:51 UTC

Petrobras concessions in Argentine Patagonia extended for ten years

The company plans to invest 819 million dollars in exploration and production

The Argentine unit of Brazilian state-controlled oil giant Petrobras has signed an agreement with the Patagonian province of Rio Negro that extends its three concessions in that region for 10 years. The new deal was inked after the company renegotiated its contractual conditions with the provincial government.

Friday, May 2nd 2014 - 09:46 UTC

Major dairy farming invester in Uruguay sells land to recoup losses

Singapore Olam took control of the 49 dairy farms NZ farming company had in Uruguay

NZ Farming Systems Uruguay, the dairy unit of Singapore-based Olam International in Uruguay, has sold some 7,771 hectares of farm land in Uruguay to local interests for about 53.7 million dollars in gross cash proceeds. The transactions would free up cash “for redeployment into more value-accretive projects,” Olam said in a statement.

Friday, May 2nd 2014 - 09:27 UTC

Uruguay's budget fiscal deficit climbs in March to its highest since October 2003

Minister Bergara believes there is no risk for public accounts sustainability

Uruguay's fiscal deficit climbed to 3.2% of GDP during March, the highest since October 2003, --equivalent to 1.69 billion dollars--, but Economy minister Mario Bergara said that there is no risk for “the sustainability of public accounts or sustainability of current macroeconomic policies”.

Friday, May 2nd 2014 - 09:11 UTC

Brazil denies financing Uruguay's project of a deep-sea port on the Atlantic

President Mujica insists Brazil has 'an interest' in the project

Brazil's economic and social bank, BNDES, denied it was intent in financing Uruguay's deep sea port on the Atlantic coast, as repeated sources in the Uruguayan government have indicated.

Wednesday, April 30th 2014 - 09:22 UTC

Argentina and Brazil agree to further integrate and prop their auto industries

Guido Mantega met Axel Kicillof

Argentina and Brazilian officials agreed to continue meeting regularly to solve as soon as possible bilateral trade problems mainly those referred to the auto industry. On Tuesday Argentine Finance minister Axel Kicillof and Industry minister Deborah Giorgi met their Brazilian counterparts, Guido Mantega and Mauro Borges in Brasilia.

Friday, April 25th 2014 - 21:33 UTC

British Virgin Islands received more FDI in 2013 than Brazil and India together

“In the BVI there are some financial companies that perform the role of treasuries of the TNCs” said UNCTAD's James Zhan

The British Virgin Islands received more foreign direct investment last year than the major emerging economies of India and Brazil combined, a United Nations survey said on Tuesday. Brazil and India got 63 billion and 28 billion respectively.

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