Argentina’s oil corporation YPF signed a purchase option for 54.67% of the British Gas controlled GASA group that is the country’s largest distributor of gas. The purchase option expires August 31.
President Cristina Fernández de Kirchner said that the restructuring of Argentina’s debt allowed the resumption of relations with Italy, and in human rights, art and culture Argentina was back in the world map with ‘a bang’.
In response to increased air traffic this past decade, the Ministry of Public Works has formed a plan to improve and expand the airports of Chile including Punta Arenas.
Uruguayan president Jose Mujica warned that several abattoirs will run into deep trouble and might have to close down because of the lack of livestock ready for slaughtering. He also cautioned that “there is not much more the Executive can do”.
Moody's has warned it may downgrade the US debt rating if Congress fails to increase the US debt limit in the coming weeks and risks default. The agency warned of political entrenchment preventing an increase.
Consumer prices in Uruguay rose sharply again in May, led by steep increases in prices at restaurants and hotels, for housing and for health costs accumulating 8.53% in the last twelve months and 4.34% in the five months of 2011.
Brazil's first quarter GDP grew 1.3% compared to the previous quarter – an annualized rate of over 5% – and 4.2% against the first quarter of 2010 revealed on Friday the Brazilian government.
White House said on Friday the US unemployment rate was unacceptably high while trying to put a brave face on a report that showed employers hired far fewer workers than expected in May.
Past voluntary debt re-profiling in Latin America have worked to varying degrees, but soft restructuring is not going to solve Greece's debt problems, according to Stuart Culverhouse, chief economist of frontier markets specialist Exotix.
Hyundai Motor Company, South Korea’s largest automaker is constructing its seventh overseas plant in Piracicaba, Sao Paulo state, Brazil to actively respond to soaring demand in one of the world’s fastest growing markets and to bring its manufacturing presence in so-called BRIC countries full circle.