Stories for August 2010

Friday, August 6th 2010 - 00:34 UTC
IMF praises Brazil’s “carefully calibrated” policies and forecasts 7.1% growth

The International Monetary Fund reiterated its forecast for Brazil’s economy to expand 7.1% this year, as result of capital inflows and the expansion of credit. However the IMF also cautioned about the official credit policy of the country’s development bank.
Friday, August 6th 2010 - 00:28 UTC
Chinese auto maker planning a plant with a production capacity of 170.000 units

Chinese auto-maker Chery Automobile Co. will spend 700 million US dollars on a plant in Sao Paulo, Brazil's wealthiest state, the local newspaper o Estado de S. Paulo reported in its Thursday edition.
Thursday, August 5th 2010 - 21:10 UTC
South American countries gather to discuss reducing broad band costs

The economic development of Latin America has pushed technology experts to seek out a stronger technological network to suit the region’s changing needs.
Thursday, August 5th 2010 - 17:28 UTC
Foster Wheeler awarded engineer contract for Montevideo LNG receiving plant

Foster Wheeler AG (Nasdaq: FWLT) announced Wednesday that its Global Engineering and Construction Group has been awarded an owner’s engineer contract for a new LNG receiving terminal (the “GNL Del Plata” facility) to be built in Uruguay’s capital Montevideo.
Thursday, August 5th 2010 - 17:22 UTC
Chile advances in ‘bi-oceanic’ link projects with Brazil, Bolivia and Argentina

Chilean President Sebastián Piñera made his Mercosur debut this week at the regional trade association’s summit in San Juan, Argentina, delivering a well received speech and holding separate meetings with Bolivian President Evo Morales and Brazil’s Lula da Silva and Argentina’s Cristina Kirchner.
Thursday, August 5th 2010 - 16:26 UTC
Over fifty fishing vessels docked in Montevideo because of labour conflict

An estimated Uruguayan flagged fifty fishing vessels have been docked in Montevideo for over a month because of a labour conflict over a new work contract with the owners of the vessels and processing plants.
Thursday, August 5th 2010 - 16:20 UTC
Georgia to open embassies in Latam looking to attract investment

The former Soviet republic of Georgia plans to open embassies in Brazil and Mexico and will send a top delegation to the inauguration of Colombian president Juan Manuel Santos as it seeks to attract more foreign investment and to expand economic and political ties with Latin America, according to the Foreign Ministry.
Thursday, August 5th 2010 - 16:11 UTC
Japan rice stockpiles to reach the highest in eight years in 2011

Japan’s food rice stockpiles may reach the highest level in eight years at the end of June 2011, leading to a price drop and planting curbs by growers next year. Private and government inventories are forecast to climb 2.5% to 3.24 million metric tons from 3.16 million tons a year earlier, the Ministry of Agriculture, Forestry and Fisheries said in a report Wednesday.
Thursday, August 5th 2010 - 09:14 UTC
Beware (River Uruguay) contaminators, warns Argentine top scientist

Contaminators “beware, the time of reckoning is coming” warns Enrique Martinez Argentina’s president of the National Institute of Industrial Technology, INTI who in a brief opinion column praises the recent agreement reached between Uruguay and Argentina to monitor the River Uruguay and ensure the non contamination of the shared water course.
Thursday, August 5th 2010 - 09:09 UTC
Obama administration wants to end Bush era tax cuts for the rich

The George Bush administration's “misguided” policies are to blame for huge US budget deficits, Treasury Secretary Timothy Geithner charged as he sought to build an election-year case for ending tax cuts for the wealthiest US citizens.