Economy

• Monday, September 17th 2012 - 14:57 UTC

  FOGL and Edison strike gas discovery to the East of the Falkland Islands

  

  Falkland Oil and Gas Ltd announced Monday that the well drilled to the East of the Falkland Islands to a depth of over 4.000 meters is a gas discovery. The statement comes after a rough week for FOGL when its shares plummeted following poor and unfounded press coverage.

• Monday, September 17th 2012 - 05:37 UTC

  Venezuela and Argentina sign 24 agreements in the oil-food industries

  

  Venezuela and Argentina signed three institutional agreements and 24 among corporations during the two-day First Meeting for the Venezuela-Argentina Petro-industrial development with the purpose of intensifying trade, investment and cooperation between the two countries.

• Monday, September 17th 2012 - 02:47 UTC

  Experts close to President Rousseff warn of a “real estate bubble” in Brazil

  

  A team of experts working for the administration of President Dilma Rousseff has warned of the existence of a “real estate burble” in Brazil with the value of houses soaring 165% in Rio do Janeiro and 132% in Sao Paulo in the last four years.

• Saturday, September 15th 2012 - 06:54 UTC

  Growing number of Spanish companies looking to make business in Latin America

  

  An ever growing number of Spanish companies are setting their eyes on Latin America, a region with an expanding economy, abundant natural resources and much to be done as reported by Spain’s trade offices and Spanish chambers of commerce.

• Saturday, September 15th 2012 - 05:42 UTC

  Obama says his administration has been ‘very aggressive’ in expanding relations with Latin America

  

  US President Barack Obama denied on Thursday contrary to what many of his critics contend that he has neglected Latin America and said that his administration has been “very aggressive” in trying to broaden relations with the region.

• Saturday, September 15th 2012 - 05:36 UTC

  Argentina pledges to increase corn exports to help ease tight global markets

  

  Argentina pledges to export an extra 2.75 million tons of corn from its 2011-12 harvest to a total of 16.45 million tons helping to ease tight international markets after this summer's drought in the US damaged crops there and fuelled fears of a food crisis.

• Saturday, September 15th 2012 - 05:29 UTC

  YPF/Chevron signed an understanding to explore for shale gas and oil in Neuquen

  

  Argentina's recently nationalized oil and gas producer YPF SA and the US Chevron Corporation have signed a memorandum of understanding to explore for unconventional energy in Vaca Muerta, in the Patagonian province of Neuquen.

• Saturday, September 15th 2012 - 05:24 UTC

  Brazil economic activity picks up in July, but will end below 2% in 2012

  

  Brazil’s economic activity rose more than forecast in July, posting the biggest expansion in almost a year. The non-seasonally adjusted economic activity index rose 2.34% from a year earlier after rising 0.99% in June, the central bank said in a report.

• Saturday, September 15th 2012 - 05:19 UTC

  Two Brazilian mid-sized banks ordered liquidation by monetary authorities

  

  Brazil's central bank ordered the liquidation of Banco Cruzeiro do Sul on Friday after no one stepped up to acquire the troubled lender, raising doubts about government oversight of small and mid-sized banks.

• Saturday, September 15th 2012 - 05:13 UTC

  Argentina’s money supply adjusted for inflation climbed 22.6% in last 12 months

  

  A benchmark measure of Argentina's money supply rose 34.6% on the year in August, according to the central bank. In its monthly monetary report published late Thursday, the Central Bank of Argentina said its M2 measure of money supply averaged 403.93 billion Argentine pesos (86.6 billion dollars) last month.