Argentina announced on Tuesday an agreement between state-run oil company YPF and Dow Chemical to spend $500 million next year developing a natural gas project in the Patagonia region.
President Mauricio Macri's administration announced the end of restrictions on imports into Argentina, with the current controls of 'sworn statements' or DJAI, replaced by a system of automatic and semi-automatic licences.
HMS Lancaster, a type 23 Frigate is in Gibraltar for a few days to top up on fuel and supplies and allow its crew some rest and recuperation. HMS Lancaster recently completed a 9-month deployment to the South Atlantic where she conducted Atlantic Patrol Tasking, and made over 23 port visits in 18 countries.
The all powerful Sao Paulo Federation of Industries, FIESP, formalized on Tuesday its support to the impeachment process against Brazilian president Dilma Rousseff, thus becoming the first business corporation to publicly express such stance that could end with the removal of the head of state of Latin America's largest economy.
Petrobras, Brazil's largest corporation, carried out asset sales and underwent a restructuring this year in response to a severe financial crisis, emerging smaller but with a more profitable and productive future ahead, CEO Aldemir Bendini said Tuesday.
Brazilian federal police searched the home of lower house speaker Eduardo Cunha on Tuesday as part of a series of anti-graft raids against senior political figures, dealing a blow to the man who opened President Dilma Rousseff's impeachment proceedings.
Argentina's foreign minister Susana Malcorra said on Tuesday the Falklands/Malvinas sovereignty conflict “can't be sidestepped because it's a historic and central issue” for Argentina, although this “does not impede” acknowledging that relations between the two countries “have a lot of other areas in which we have to work”.
Financial and political turmoil that have Brazil on the brink of a depression is also contributing to one of the best years ever for domestic farmers. Economic stress and a weak currency has facilitated export revenue for everything from soybeans to beef to coffee.
Analysts expect Brazil's economy to contract by 3.62% this year, with inflation hitting 10.61%, the Central Bank said Monday. GDP and inflation estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.
Argentina's business friendly president Mauricio Macri, announced on Monday large tax cuts on agricultural exports and emphasizing that the camp was essential to get Argentina back on its feet. Macri, who took office Thursday, had promised to slash the steep taxes on agricultural exports, which triggered major protests by producers against former president Cristina Fernandez administration.