Investments

Investments
Thursday, May 5th 2016 - 11:27 UTC

Petrobras sells stakes in Argentina and Chile, part of major divestment plan

Petrobras sold to Pampa Energia the 67.19% stake in PESA, but excludes two major gas formations in Neuquén (Argentina) and Bolivia

Brazil’s state-run oil firm Petrobras said it has concluded the sale of its 67.2% stake in Petrobras Argentina to Argentina’s Pampa Energía for US$ 892 million, according to a securities filing. Petrobras also sold all of Petrobras Chile Distribución to Southern Cross Group for about US$ 490 million as part of its divestment program, the company said.

Saturday, April 30th 2016 - 11:45 UTC

YPF will fight back legal claim seeking US$ 500 million for rescinding contracts

YPF said it was notified that it must pay damages of US$184.5 million to Brazilian electric utility AES and US$319.1 million to Transportadora de Gas del Mercosur

Argentina's state-run energy company YPF said this week it will fight a legal claim seek more than US$500 million in damages for rescinding natural gas export contracts in 2009. “YPF shall use all its legal resources to defend its interests and those of its shareholders,” the company said in a filing with the Buenos Aires Stock Exchange.

Friday, April 29th 2016 - 06:42 UTC

Chilean mining minister inaugurated the British Pavilion at Expomin 2016 in Santiago.

Chilean Mining Minister, Aurora Williams, Ambassador Fiona Clouder, and UKTI-Chile Director inaugurate the British Pavilion at Expomin 2016

Chilean President Michelle Bachelet and Mining Minister Aurora Williams officially inaugurated Expomin 2016. During her tour through the exhibition, Minister Williams visited the British pavilion, joined by Ambassador Fiona Clouder and UKTI Director Trevor Hines.

Wednesday, April 27th 2016 - 10:51 UTC

In a strategic decision, Australia opts for French submarines, sinks Japanese bid

“The recommendation was unequivocal, the French offer represented the capabilities best able to meet Australia's unique needs,” Turnbull told reporters

France has beaten Japan and Germany to win a US$ 43 billion deal to build a fleet of 12 submarines for Australia, one of the world's most lucrative defense contracts, Australian Prime Minister Malcolm Turnbull announced on Tuesday.

Wednesday, April 20th 2016 - 06:58 UTC

Argentina makes emerging-market record US$ 16.5b debt sale and ends litigation with bondholders

“We are resolving three issues at the same time: the 2001 default, the default of the previous government and we are returning to the market” said Minister Prat Gay

Argentina announced on Tuesday the largest emerging market debt sale on record with a global offering of 16.5bn dollars at an average interest rate of 7.14%, well below what it had planned in March in the midst of negotiations to end litigations with holdout funds opening the way, after fifteen years, for the return to world money markets. Underwriters received 68.5bn dollars in orders for bonds, more than four times the value of the debt.

Tuesday, April 19th 2016 - 22:42 UTC

First commercial airliner lands in St Helena: new chapter of opportunities for the BOT island in mid Atlantic

British Airways Boeing 737-800 prepares to touch down at St Helena’s airport.  It is the actual Boeing aircraft which will serve the St Helena/Johannesburg route.

The British Overseas Territory St Helena in mid Atlantic made history on Monday as the first large passenger jet aircraft, a Boeing 737-800 (ZS-ZWG), touched down at St Helena’s new Airport shortly after 12.00 noon. This is the actual Boeing aircraft which will serve the St Helena/Johannesburg rout, according to a release from the local government.

Monday, April 18th 2016 - 09:46 UTC

Mercosur/EU trade deal is “no bed of roses” and “we're just beginning”

“We'll only reach an agreement if we start to discuss it. We're not going to get closer unless we display proposals. It's a give and take game”, said Malcorra

Despite growing optimism among Mercosur member countries of reaching a trade agreement with the European Union, Argentine minister of foreign affairs Susana Malcorra has cautioned that the road ahead is not “a bed of roses”, and the coming exchange of goods and tariff reduction proposals “will not satisfy any of the two sides”, but that is where “serious discussions begin”.

Saturday, April 16th 2016 - 09:44 UTC

A view of the Falkland Islands by the British Consul in Uruguay

Katharine Felton next to the Stanley Welcome signpost  (Pic FB)

Katharine Felton writes the highlights of her one week experience in the archipelago. - Last week I visited the Falkland Islands for the first time - to learn more about the Islands and look at how their links with Uruguay, and vice versa, can be strengthened.

Wednesday, April 13th 2016 - 05:03 UTC

Ecuador signs US$ 1 billion investment deals to boost oil production in existing fields

Petroamazonas signed a contract with Pañaturi consortium, made up of China’s Sinopec International and Sinopec Service Ecuador

Ecuadorian state-owned energy firm Petroamazonas EP, which is looking to boost production at nine of its existing oil fields and on Monday signed a series of investment deals amounting to US$ 1 billion for those areas, enlisting the help of both domestic and foreign companies.

Monday, April 11th 2016 - 05:46 UTC

Argentina ready to formally join the IMF fold; Prat-Gay to meet Lagarde this week

 Prat-Gay will attend the IMF-World Bank summit in Washington DC and is expected to discuss the issue with IMF head Christine Lagarde.

Argentina will start discussions with the International Monetary Fund (IMF) this week on its first Article IV review in a decade, Finance Minister Alfonso Prat Gay said at a conference held by the Institute of International Finance (IIF) in Nassau. “Next week we are going to have a discussion (with the IMF) to agree on an actual schedule for the next Article IV evaluation, which will happen sometime around September,” Prat Gay told the audience on Sunday.

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