A drilling engineer with a long experience in the oil and gas industry Miguel Galuccio, 44, will be taking over as of next Monday as manager of the nationalized YPF corporation, announced on Friday Argentine President Cristina Fernandez.
Uruguayan Foreign Minister Luis Almagro backed Argentina’s controversial decision to nationalize the country's biggest oil company YPF arguing countries’ right to recover a strategic market is “indisputable”.
The Argentine government spent 1.225 billion Pesos (307.8 million dollars) in 2010 on public advertising campaigns, an increase of 25 times since 2003, according to a recent study released by Poder Ciudadano, the Argentine national chapter of Transparency International.
Brazil received more than 5.4 million international visitors in 2011, up 5.35 from 2010, the Tourism Ministry announced Friday. The number of visitors from other South American nations rose from 2.384 million in 2010 to 2.628 million in 2011.
WPP international advertising holding on Friday regretted a controversial TV spot showing an Argentine athlete training for the London Olympic Games in Port Stanley, Falkland Islands.
British Foreign Secretary William Hague has branded as a stunt an Olympic TV advert by Argentina featuring a hockey player training on the disputed Falkland Islands, described in the broadcast as “Argentine soil”.
The controversial Argentine government Olympic spot allegedly in support of the delegation that will competing in the coming London games had everybody on the black: public opinion, the athlete who ignored who really paid for his acting, obviously the Falklands where it was filmed and even the Argentine Olympic Committee.
President Cristina Fernández said that YPF will be a “great challenge for Argentina” since it will have to turn into a modern competitive oil company in line with the interests of the country.
Even when the YPF nationalization bill in the Argentine Lower House was passed with support from most opposition parties, including the two main groupings the event was not without incidents.
After a two-day session, Argentina’s Lower House voted late Thursday night 207-32 in favour of expropriating energy corporation YPF, clearing the way for President Cristina Fernandez to sign the controversial bill into law.