Citrovita and Citrosuco of Brazil won European Union antitrust approval for their merger plan to form the world’s largest wholesale supplier of orange juice.
Economic growth in much of Latin America remains strong, propelled by rising commodity prices, easy financing conditions, and stimulative policies. Growth exceeded 6% in 2010, and while it is projected to moderate to about 4¾% in 2011, the IMF says countries should remove the policy stimulus on a timely basis.
The Argentine ‘development model’ had had its successes but it belongs to the average group of most South American countries that benefited by the explosive advance of commodity prices and since 2007 has fallen to the bottom half of performers in the region according to former Economy minister Martin Lousteau.
In spite of its love for horses, Argentina is the world’s leading exporter of horse meat having shipped 23.880 tons in 2010, valued 75 million US dollars according to the country’s Animal health and Agro-food quality service, SENASA.
Latin America and the Caribbean was the region with the strongest percentage increases as a recipient and source of Foreign Direct Investment (FDI), according to a report presented Wednesday in Mexico City by the Economic Commission for Latin America and the Caribbean, ECLAC.
Trade among the two leading Mercosur partners reached 11.7 billion US dollars during the first four months of the year with Argentine exports to Brazil reaching a record 5.2 billion USD. This is 29% higher than in 2010 and 23% above the 2008 record year.
With Uruguay’s economy growing at 8.5% in 2010 and managing to skip the 2009 slowdown with a 2.86% expansion, the housing market in the capital Montevideo is going through an excellent moment according to Global Property Guide based on info from local appraisers.
The European Union/Mercosur trade talks taking place in Paraguay are attempting to advance with a ‘verbal exchange of proposals’ while negotiators continue ahead with technical aspects of a future agreement, according to Argentine sources.
Argentina has assured India of reviewing a ban on imported pharmaceutical products and announced the purchase of drugs worth 150-200 million US dollars from Indian firms, a statement said Wednesday.
Portugal’s caretaker Prime Minister Jose Socrates announced Tuesday that he has reached agreement on a bail-out from the EU and the International Monetary Fund. He said the three-year loan was a good agreement that defends Portugal.