Economy

Thursday, October 18th 2012 - 15:56 UTC
Brazil plans to double natural gas output by 2020; 21 new rigs in 2018

Brazil natural gas output could nearly double by 2020, reaching up to 120 million cubic-meters a day, as Latin America's largest economy increases the number of offshore platforms to take advantage of huge deep-sea oil reserves, the general director of the National Petroleum Authority, ANP, said this week.
Thursday, October 18th 2012 - 06:57 UTC
Moody’s downgraded debt ratings of several Argentine provinces and cities

Moody's Investor Service announced on Wednesday it has downgraded the issuer and debt ratings of several provinces and cities in Argentina, due to the risks these states may face to access foreign currency and “serve their obligations in foreign currency.”
Thursday, October 18th 2012 - 06:52 UTC
Lula da Silva calls for Argentine/Brazilian business corporations

Brazil's former President Lula Da Silva blasted the “protectionist” measures of the developed countries and called for the alliance between businessmen from his country and Argentina's, as he highlighted that Brazil “grows, but with a controlled inflation rate”.
Thursday, October 18th 2012 - 06:49 UTC
Argentina's sovereign debt, a matter of time says The Economist

When Argentina proposed a brutal 65% haircut to holders of its defaulted sovereign bonds in a 2005 restructuring, one argument the country’s officials used to justify the offer was that the country could not take on more debt than it could reasonably expect to pay. As painful as the loss might be, the argument went at least the new bonds the government would issue would be creditworthy.
Thursday, October 18th 2012 - 01:37 UTC
Australian beef sales to Japan remain weak: down 6% over last year

Australia shipped 22,648 tonnes swt of beef to Japan during September, the lowest monthly volumes since December 2003 (with the exception of January).
Thursday, October 18th 2012 - 01:26 UTC
Venezuela’s air carrier Conviasa expands schedules with Brazilian aircraft

Venezuelan flag air-carrier Conviasa plans this year to expand the number of destinations from four to ten with the three, out of an order of twenty aircraft purchased to Brazil, announced on Wednesday the president of the company General César Martínez.
Thursday, October 18th 2012 - 00:57 UTC
Hedge funds targeting Argentina miss the target: BIS deposits free from embargoes

Switzerland’s government rejected a law suit filed by US hedge funds asking to set an embargo on Argentina's assets deposited in Switzerland based Bank for International Settlements as they claim the payment of a 1 billion dollars debt.
Thursday, October 18th 2012 - 00:25 UTC
The bursting of the social media bubble: Dot-com déjà vu?

By Ned Raynolds - A joke currently making the rounds on Wall Street has it that a bar opened in Silicon Valley, giving away drinks for free. The place was soon wall-to-wall with people. Other West Coast saloons latched onto the idea, figuring that a business model that attracted so many patrons couldn’t fail.
Wednesday, October 17th 2012 - 20:34 UTC
Brazil’s slowdown impacts on neighbouring Argentina and Uruguay says Fitch

Brazil's deeper-than-expected economic slowdown is amplifying the deceleration already being experienced by Argentina and Uruguay as a result of the global slowdown, according to a new Fitch Ratings report.
Wednesday, October 17th 2012 - 17:00 UTC
Argentina/Chile working on tunnel under the Andes linking the Atlantic and Pacific

By 2022 if all works out as planned the Aconcagua Bi-Oceanic corridor should link the Atlantic with the Pacific coast of South America facilitating trade and business opportunities.