Stories for August 2012

Monday, August 6th 2012 - 07:47 UTC
Argentine industry lobby blast devaluation but demand more competitiveness

Argentine Industrial Union head José Ignacio de Mendiguren says he wholeheartedly agrees with President Cristina Fernández criticism to those who back a devaluation of the Peso, in an interview with Ambito.com.
Monday, August 6th 2012 - 07:40 UTC
Chile’s discredited Piñera revamps tax reform bill ahead of municipal elections

Chile's government re-drafted a sweeping tax reform bill aimed at helping fund an education overhaul, removing criticized benefits for higher earners as it seeks to help its passage through Congress ahead of key local elections.
Monday, August 6th 2012 - 07:34 UTC
Sean Penn joins Venezuela’s Chavez presidential electoral campaign wagon

Actor Sean Penn joined President Hugo Chavez at an election rally in Venezuela on Sunday, bringing a dash of Hollywood to the campaign as he rode with him atop a truck past cheering supporters.
Monday, August 6th 2012 - 07:29 UTC
Petrobras posts loss in second quarter; blames depreciation of the Real

Brazil state-controlled oil company Petrobras reported a net loss of 1.35 billion Reais (some 633 million dollars at the current exchange rate) in the second quarter, attributing the result to the depreciation of the Real relative to the dollar.
Monday, August 6th 2012 - 07:21 UTC
Slowdown in Latin America further exposed vulnerabilities of Spain and Portugal

The slowdown in Latin America’s once booming economies could take a heavy toll on profits for Spanish and Portuguese companies whose two-decade investment spree abroad has provided a lifeline during a deepening crisis at home.
Saturday, August 4th 2012 - 22:29 UTC
Chile expects a 30% increase in cruise vessel calls this 2012/13 season

Chile is expecting an increase of 30% in the number of cruise vessels calls this coming season with Puerto Montt and Punta Arenas receiving the most, said the country’s Under Secretary for Tourism Jacqueline Plass.
Saturday, August 4th 2012 - 19:24 UTC
Falkland Islands’ assessing options for the expansion of port facilities

Falkland Islands port facilities are under assessment given the prospects of oil industry activities in the near future and two options are being considered by the local government: a new port project, and an interim development of the current facilities at FIPASS.
Saturday, August 4th 2012 - 05:00 UTC
YPF and PDVSA advance in the energy strategic alliance; next meeting in Caracas

Argentina and Venezuela gave their first step in the creation of an energy strategic alliance between oil companies YPF and PDVSA, after the agreement signed by President Cristina Fernández and her Venezuelan counterpart, Hugo Chávez, in Brasilia last Tuesday.
Saturday, August 4th 2012 - 03:14 UTC
Venezuela accession to Mercosur “by the back door”, according to The Economist

Under the heading of “In by the back door” referred to the expansion of Mercosur, The Economist says “bringing Venezuela certainly was smart, in the sense of cunning rather than wise”, but it was done ignoring the block’s rules which call for unanimity in admitting new members.
Saturday, August 4th 2012 - 02:18 UTC
Paraguayan senators challenge Chavez version of attempted bribes to favour Venezuela

An international controversy has surfaced between President Hugo Chavez and Paraguayan senators as to who really tried to bribe whom regarding failed attempts to have Venezuela incorporated to Mercosur.