Investments

• Wednesday, June 4th 2014 - 09:03 UTC

  Timid S&P ignores Moody's and leaves Uruguay' risk rating unchanged

  

  Standard & Poor's (S&P) decided on Tuesday to maintain Uruguay's sovereign debt risk rating unchanged at the lowest investment grade BBB-, because although it has solid growth prospects, predictable policies and a favorable debt profile, the country still has limited fiscal and monetary flexibility and lives in a neighborhood experimenting 'economic stress'.

• Wednesday, June 4th 2014 - 08:58 UTC

  Mexico's Pemex sells its majority stake in Repsol over management disputes

  

  Mexico's state-owned oil giant Pemex has sold the majority of its stake in Spanish energy firm Repsol for approximately 2.2bn Euros with the intervention of Citigroup and Deutsche Bank. Pemex has been a shareholder in Repsol for more than 25 years.

• Tuesday, June 3rd 2014 - 06:03 UTC

  With help from FIFA, the stadium opening the World Cup approved the test

  

  A less-than-capacity crowd at Sunday’s final World Cup test event at the Itaquerao venue in Sao Paulo means it will host a full crowd for the first time at the tournament opener.

• Saturday, May 31st 2014 - 07:55 UTC

  The 'morality' of the Argentina/Paris Club deal is that it's 'a shared effort'

  

  Argentina's Economy minister Axel Kicillof gave details on Friday of the payment agreement reached with the Paris Club involving 9.7bn dollars of 2001 defaulted debt, which will open the doors to export credit agencies from the group's members and equally important signals a new attitude from the Cristina Fernandez administration.

• Saturday, May 31st 2014 - 07:03 UTC

  US Chamber of Commerce delegation on potential business tour of Cuba

  

  A delegation from the American Chamber of Commerce has begun its first visit to Cuba in 15 years. Chamber president Thomas Donohue said he was in Cuba to assess the economic changes taking place under President Raul Castro.

• Saturday, May 31st 2014 - 06:25 UTC

  Hedge funds' lobby praise Argentina/Paris Club deal; calls for talks with private creditors

  

  Following Argentina's agreement to resolve its 9.7bn debt to Paris Club member nations within five years, American Task Force Argentina co-chairs Robert Shapiro and Ambassador Nancy Soderberg have declared their support for Argentina's pledge to act responsibly and encouraged the Argentine government to go further.

• Saturday, May 31st 2014 - 06:08 UTC

  Uruguay's FDI equivalent to 5% of GDP and mostly in alternative energies, said Eclac report

  

  Foreign direct investment in Uruguay totaled 2.79bn dollars last year, which is slightly higher than the 2.68bn of 2012, equivalent to 5% of GDP, according to the latest report on FDI for the region from the UN Economic Commission for Latin America and the Caribbean.

• Tuesday, May 27th 2014 - 11:01 UTC

  Brazil considering proposals to open operatorship of pre-salt projects

  

  Brazil's government is considering proposals to open operatorship of its pre-salt projects to companies other than state-run Petrobras and this change might be made, Mayer Brown partner Alexandre R. Chequer told the law's firm's annual energy conference in Houston last week.

• Saturday, May 24th 2014 - 00:37 UTC

  The California shale bubble just burst

  

  The great hype surrounding the advent of a shale gas bonanza in California may turn out to be just that: hype. The U.S. Energy Information Administration (EIA) – the statistical arm of the Department of Energy – has downgraded its estimate of the total amount of recoverable oil in the Monterey Shale by a whopping 96%. Its previous estimate pegged the recoverable resource in California’s shale formation at 13.7 billion barrels but it now only thinks that there are 600 million barrels available.

• Friday, May 23rd 2014 - 23:50 UTC

  Argentina with 'Vaca Muerta' won the 'geological lottery': 305 meters-thick shale oil and gas

  

  Argentina has won the “geological lottery” with its 305 meters-thick Vaca Muerta shale oil and gas field in Patagonia, a spokesman for Chevron said on Thursday, as the U.S. energy giant increases its investments in the country. The company and state-owned oil firm YPF announced plans last month to invest an additional 1.6 billion to develop Vaca Muerta.