Argentina's Defence Minister announced on Thursday a budget boost and promised a significant increase in the number of aircraft for the Air Force during the celebration of Malvinas War Fire Baptism Day.
Headlines: Concordia Bay is on her way; Anger at squid fee hike; Argentine protest at drilling plans; Co-op in difficulty?
The international hydrocarbons corporations which last October were awarded oil exploration licences in the extreme south of Chile signed on Wednesday the operation contracts with the Chilean government during a ceremony headed by President Michelle Bachelet in Punta Arenas.
The Argentine government and farmers seem to have reached a deal just hours before the May 2 truce comes to an end. In exchange for liberating the wheat market and reopening the beef export registry, farmers will put the initiative to consideration, together with the extension of the truce, to their respective organizations.
Japanese and South Korean corporations announced their interest in Brazil's first bullet train which is expected to be set to bid in the first quarter of next year. Brazil's cabinet chief Dilma Rousseff is currently visiting Japan where she was approached by the corporations.
The European Union on Wednesday approved a German bailout of WestLB, a regional bank that lost billions from US mortgages gone badly. Germany can now put up 5 billion Euros to help the bank ride out its exposure to the subprime banking crisis.
A delegation of 12 European Members of Parliament are currently in Brazil to assess livestock and beef conditions, and the bio fuels industry. The visit is considered significant because Brazil has only just managed to resume beef exports to the EU after Brussels imposed last February a temporary ban based on sanitary rules.
The Falkland Islands government is entitled to develop a hydrocarbons industry underlined the United Kingdom after reaffirming its sovereignty over the South Atlantic Islands following a formal protest from Argentina regarding a new oil exploration licensing round.
Bolivia announced on Thursday, May first, that it had completed the purchase of majority ownership of four energy companies by buying back shares in the firms as part of a nationalization drive started exactly two years ago.
Brazilian Finance Minister Guido Mantega this week announced a 10% hike in the price of gasoline and 15% for diesel fuel, the first such increase since 2005. The increases refer to products from Petrobras, the country's government owned oil corporation which sets the pace for the rest of the industry.