Mercosur

Mercosur
Thursday, July 14th 2016 - 07:43 UTC

Petrobras tenth FPSO vessel in the pre-salt Santos Basin begins production

Petrobras is the operator of the Lula field with a 65% interest. Royal Dutch Shell has a 25% stake while the remaining 10% is in the possession of Petrogal Brasil SA.

Petrobras declared the commencement of production from the Cidade de Saquarema floating production, storage and offloading (FPSO) vessel at the Lula oil field on Jul 8. The offshore oil field is situated in the pre-salt Santos Basin and most importantly, the Cidade de Saquarema unit is the tenth FPSO that is working in the pre-salt region of Brazil.

Thursday, July 14th 2016 - 07:38 UTC

Temer wins strong ally with Lower House new speaker; crucial to approve unpopular economic reforms

Maia, a trained economist who worked briefly in banking before turning to politics, signaled he would help Temer with reforms to pull the economy out of recession

Brazil's lower house of Congress elected an ally of interim President Michel Temer as its new speaker late on Wednesday, marking a victory for a government racing to approve unpopular economic reforms. Rodrigo Maia of the right-leaning Democrats party, known as DEM, won the second round ballot by a wide margin in a hotly contested election.

Thursday, July 14th 2016 - 07:35 UTC

Lula says a six-vote swing is needed to beat Rousseff's impeachment in August

“Dilma depends on only six votes,” Lula told a radio station in Pernambuco state. The Senate must vote by 54 votes out of 81 for the impeachment to pass

Brazil's suspended president Dilma Rousseff could still wriggle out of a looming impeachment vote, her ally and predecessor Lula da Silva said. Speaking with Radio Jornal, Brazil's most prominent leftist leader said Rousseff's case is not hopeless, despite months of mounting pressure on her to be removed from office.

Wednesday, July 13th 2016 - 07:04 UTC

Argentines hold at least 232.5bn dollars overseas, according to stats office Indec

Finance minister Alfonso Prat Gay said that there's “no official estimate” of how much money can take advantage of the bill, because it involves “hidden funds”

Argentines held 232.5 billion dollars overseas in 2015, almost 10bn dollars over the previous year, according to the latest report from the country's official Indec stats office. The report, “International Investment position” is a financial balance account of Argentina with the rest of the world and records the market value of Argentine residents external assets and liabilities.

Wednesday, July 13th 2016 - 05:11 UTC

Mercosur asks Venezuela for 'democratic and human rights gestures' before transferring the group's chair

“Let political prisoners free, show a commitment to democratic values and human rights, otherwise there will be no consensus”, Loizaga said in Asunción

Mercosur members are requesting from Venezuela concrete gestures in favor of democracy and human rights if they are to consider the transfer of the group's pro tempore chair from Uruguay to Caracas, pointed out Paraguayan foreign minister Eladio Loizaga a day after the group was unable to reach a consensus on the issue that has become particularly controversial when not frustrating.

Wednesday, July 13th 2016 - 01:31 UTC

Argentina and Brazil situations take a toll on Uruguay's 2015/16 cruise season

 The season which extended from November 2015 to April 2016, recorded 56 calls in the Punta del Este sea resort and 105 in Montevideo.

The number of vessel calls dropped 6.4% and passengers landed 4.1%, during the last 2015/2016 cruise season compared to 2041/2015, according to the final report from Uruguay's Tourism ministry. The number of passenger and crew landed in Montevideo and Punta del Este reached 319.000 having spent an estimate 11.1 million dollars.

Tuesday, July 12th 2016 - 08:03 UTC

Neighbors Stand Up to Venezuela

“You can be elected democratically but lose legitimacy over time through your actions,” Eladio Loizaga Caballero, the foreign minister of Paraguay said

By New York Times Editorial Board

This summer, Venezuela was poised to assume the rotating presidency of Mercosur, a trade bloc that includes Brazil, Argentina, Paraguay and Uruguay. But at the urging of Paraguay, Mercosur heads of state are considering blocking Venezuela, at least temporarily, citing the erosion of democracy there.

Tuesday, July 12th 2016 - 06:36 UTC

Mercosur ever so divided plans a new meeting to decide on Venezuela´s presidency of the group

Host minister Nin Novoa said that the group would take a two-day recess and meet again next Thursday following consultations

Mercosur four founding members meeting in Montevideo have been unable to reach a consensus on whether to transfer, for the next six months, the group's pro tempore presidency to Venezuela and decided on a new round of talks next Thursday. Uruguay insists in complying with the charter and calendar, but Paraguay and Brazil question the current government of Venezuela's credentials for the job, and Argentina has an ambiguous position.

Monday, July 11th 2016 - 10:20 UTC

Spontaneous ovation and acknowledgement for Malvinas veterans during Bicentenary celebrations

As veterans approached the box with authorities, thousands that had turned out for the event started to applaud them, as the crowd shouted “Argentina, Argentina”

Malvinas veterans received a huge ovation and applause when they marched in Buenos Aires closing the main parade that concluded two days of festivities and speeches across Argentina to celebrate the bicentennial of the country's declaration of independence on 9 July 1816.

Monday, July 11th 2016 - 07:44 UTC

Buenos Aires port planning ambitious new terminal to recover cruise industry business

 “We are determined that this project will help us recover the 50% of business lost in recent years, by making the Buenos Aires port more competitive”, said Mortola

The port of Buenos Aires is planning a new terminal for the cruise industry with the purpose or recovering lost business estimated at 50% compared to the peak reached in the 2012/2013 season. Likewise for this coming season there will be a drastic reduction in landing and provision costs for cruise companies operating from Buenos Aires.

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