Stories for May 3rd 2011

Tuesday, May 3rd 2011 - 23:04 UTC
Falklands oil company spuds new well and has four more lined up

Rockhopper Exploration has spudded the next appraisal well on the Sea Lion oil discovery in the Falkland Islands’ waters. Drilling began on the 14/10-5 appraisal well on May first 2011.
Tuesday, May 3rd 2011 - 22:56 UTC
Argos confirms it is closer to starting an oil drilling campaign in Falklands’ waters

Argos Resources is a step closer to starting a drill campaign in Falkland Islands waters, where it is targeting a high priority area adjacent to Rockhopper’s Sea Lion discovery.
Tuesday, May 3rd 2011 - 22:52 UTC
Portugal reaches agreement with EU and IMF for 116 billion dollars bail-out

Portugal’s caretaker Prime Minister Jose Socrates announced Tuesday that he has reached agreement on a bail-out from the EU and the International Monetary Fund. He said the three-year loan was a “good agreement that defends Portugal”.
Tuesday, May 3rd 2011 - 18:13 UTC
Air France Flight 447 cockpit voice recorder recovered from the Atlantic

The French aviation safety agency BEA announced on Tuesday the discovery and recovery of Air France Flight 447′s cockpit voice recorder from the bottom of the Atlantic Ocean, nearly two years after the Airbus A330-200 disappeared.
Tuesday, May 3rd 2011 - 18:08 UTC
Tax and investment protection agreements needed to boost India/Mercosur trade

India emphasized the need to deepen trade and investment engagements with Latin America by expanding the existing PTA with Mercosur, during a business seminar in Montevideo, Uruguay. But he added that double tax and investment protections agreements are critical to expansion.
Tuesday, May 3rd 2011 - 17:58 UTC
Beware Mr Slim: Brazil’s Batista says he will become the world’s richest person

Brazil’s billionaire Eike Batista said that he expects to become the world's richest person, speaking in an interview at the Milken Institute's annual global conference in California.
Tuesday, May 3rd 2011 - 17:55 UTC
Boeing forecasts Latam air-carriers will require 2.180 airplanes in next 20 years

Boeing forecasts that air carriers in Latin America will require 2,180 new airplanes worth approximately 210 billion US dollars over the next 20 years as air travel in the region out paces the world average.
Tuesday, May 3rd 2011 - 17:24 UTC
US printing press is flooding the world with dollars, claims Mantega

Testifying before Congress Brazilian Finance Minister Guido Mantega said that international commodity prices are behind much of the country’s rising inflation, but insisted the government will take action to keep prices in check and prevent the currency from strengthening too far too fast.
Tuesday, May 3rd 2011 - 17:08 UTC
Petrobras earmarks 73 billion USD for investment in Santos pre-salt basin

Petrobras announced the increased investment plans for the emerging Santos basin pre-salt assets, earmarking 73 billion US dollars for the 2011-2015 period. The vast sum is a 63% increase compared with the company’s 2010-2014 plan said a company statement.
Tuesday, May 3rd 2011 - 17:03 UTC
Brazil’s industrial output expands for third consecutive month

Brazil’s industrial output increased a seasonally adjusted 0.5% from February although it fell 2.1% compared with March 2010, the Brazilian Census Bureau, or IBGE, said Tuesday.