Next Wednesday Mercosur country members are scheduled to meet in Brazil to coordinate for the coming round of Mercosur/European Union trade negotiations that will be taking place in Brussels, October 11 to 15.
Uruguay’s central bank raised on Friday its overnight lending rate to 6.5% from 6.25% as inflation expectations are above the target range of 4% to 6%. The decision took the market by surprise since exporters have been asking for a stronger US dollar, but the Economy ministry said “it did not visualize a loss of competitiveness”.
Experts from more than 75 FAO Member States agreed Friday that while there were no grounds for complacency, there was no indication of an impending world food crisis. They proposed exploring new measures to check food price volatility and manage associated risks.
There is no resolution in sight for the Chilean indigenous Mapuche hunger strike. On Day 75, the health of the 34 prisoners is in danger. Eight have been hospitalized, with one needing surgery for appendicitis.
Desire Petroleum (AIM:DES), one of the Falkland Islands oil exploration companies announced Friday it had successfully placed 16,294,600 shares at 140 pence each raising £22.8 million before expenses.
Rockhopper Exploration said that during the testing of its Sea Lion well in the Falkland Islands, problems limited the amount of oil extracted to just an average of 2000 barrels per day (bopd). Otherwise, it could have produced sustained rates of at least double that, at 4000 bopd, “without these constraints”.
Brazil's government managed oil and gas company raised 70 billion US in the world's biggest-ever share offering Thursday. The success of Petrobras issue showed the extent of investor interest in Brazil's massive offshore oil reserves, one of the world's fastest-growing regions for energy production.