Economy

• Thursday, June 6th 2013 - 22:25 UTC

  Brazilian industry demands Mercosur looks for new markets or will end ‘isolated’

  

  The powerful Brazilian National Confederation of Industry, CNI said that the country and its Mercosur partners will end ‘isolated’ if they don’t actively look for alternative trade accords, as is being done by other Latam countries.

• Thursday, June 6th 2013 - 22:14 UTC

  Falklands’ oil company completes second 3D survey over its Southern licenses

  

  Falkland Oil and Gas (FOGL) reported Thursday the completion of a 3D survey over its Southern Area licenses offshore the Falkland Islands. FOGL said the survey aimed to target a number of prospects and leads immediately to the west and northwest of the Darwin condensate discovery.

• Thursday, June 6th 2013 - 06:06 UTC

  Brazil signs bill expanding private sector participation in the clogged ports

  

  Brazilian President Dilma Rousseff signed into law on Wednesday new regulations to make its ports more efficient and attract up to 12 billion dollars in investments as the country finally begins to tackle logistics bottlenecks hampering vast farm exports.

• Wednesday, June 5th 2013 - 22:16 UTC

  Good news for Chevron (and YPF): Argentine court revokes 19bn dollar embargo

  

  Argentina's Supreme Court revoked a 19 billion dollar embargo on the assets and future income of Chevron Corp.'s Argentina subsidiary, giving the U.S. oil giant a victory in a decades-old battle with indigenous groups in Ecuador.

• Wednesday, June 5th 2013 - 22:06 UTC

  Brazil boosts agriculture budget by 18% to speed expansion of storage capacity

  

  The Brazilian government announced that it is increasing the farm budget, including funds for subsidized loans by 18% to 136 billion Reais (approx 68 billion-dollars) mainly for improving the country’s insufficient storage capacity and new silos.

• Wednesday, June 5th 2013 - 21:08 UTC

  Russia temporary bans beef and poultry imports from three Brazil Marfrig plants

  

  The Russian veterinary and phytosanitary service, Rosselkhoznadzor, temporarily suspended imports from two Brazilian beef slaughterhouses and one poultry processing facility on May 17, citing detection of listeria in shipments, according to processors involved.

• Wednesday, June 5th 2013 - 18:50 UTC

  Airline profits 20% higher than expected this year, anticipates IATA

  

  Airline profits will be 20% higher than expected this year despite razor-thin margins, according to the industry's main representative body. The International Air Transport Association (IATA) said increased demand was helping pack planes to record levels.

• Wednesday, June 5th 2013 - 17:49 UTC

  Uruguay ‘can’t ignore (Mercosur) reality’ and is applying for full Pacific Alliance membership

  

  Vice-president and acting president Danilo Astori strongly defended the Uruguayan government’s intention of joining the Pacific Alliance, next to Chile, Colombia, Peru and Mexico, claiming that Mercosur has fallen into a state of ‘inactivity’ but also rejected point blank statements from Brazilian diplomacy contrary to such a move.

• Wednesday, June 5th 2013 - 08:16 UTC

  Fearing lesser global liquidity, Brazil eliminates tax on foreign capital inflows

  

  Brazil will scrap a tax on foreign investments in local debt, a surprise move that could help stop a sharp depreciation of the country's currency which lost 7.6% in the past three months and that threatens to stoke already high inflation in Latin America's largest economy.

• Wednesday, June 5th 2013 - 08:05 UTC

  Inflation in Uruguay falls for the fourth month running but still above target

  

  Consumer prices in Uruguay during May increased 0.32% and 8.06% in the last twelve months which is still above the annual top target range of 6%, but on the positive side for the fourth month running inflation has been decreasing, according to the latest release from the stats office INE.