Investments

Thursday, August 22nd 2013 - 23:37 UTC
A ‘sustainable’ exchange rate for Brazil is 2.2 to 2.35 Reais to the US dollar

Brazil's development bank BNDES chief Luciano Coutinho said on Thursday that a “sustainable” exchange rate for the country would be between 2.2 and 2.35 Reais to the US dollar, which is currently trading at around 2.44.
Thursday, August 22nd 2013 - 23:24 UTC
Brazil launches 60bn dollars currency-intervention program to boost the sliding Real

Brazil's central bank announced a currency-intervention program on Thursday that will provide 60 billion dollars worth of cash and insurance to the foreign-exchange market by year-end, a move aimed at bolstering the country's currency, the Real which has slipped to near five-year lows against the dollar.
Thursday, August 22nd 2013 - 11:32 UTC
Falklands’ government supports Premier Oil proposed development concept

The Falkland Islands Government notes the update provided by Premier Oil today (Thursday) regarding the progress of the Sea Lion oilfield development in the North Falkland Basin, and “supports the proposed phased development concept which will help mitigate local infrastructure and capacity pressures during peak development activity”.
Thursday, August 22nd 2013 - 00:44 UTC
‘Positive meeting’ of Cristina Fernandez with business, bank and union leaders

Leaders of some of Argentina's most important business groups praised the meeting held in Rio Gallegos with president Cristina Fernandez, where the head of state spoke with representatives of companies, banks and unions for more than three hours.
Thursday, August 22nd 2013 - 00:40 UTC
Argentina purchases Chinese equipment to improve the railway system

Argentina approved a contract to purchase railway equipment from a Chinese firm, said the government gazette. The contract was signed by the Argentine Ministry of the Interior and Transportation and the Chinese firm CSR Qingdao Sifang Co, Ltd on May 23, 2013 and officially approved with Administrative Decision 584/2013.
Thursday, August 22nd 2013 - 00:39 UTC
Argentina’s trade surplus down 40% in July; unemployment fell to 7.2%

Argentina's trade surplus shrank by 40% in July from a year earlier as surging fuel and auto imports increased pressure on President Cristina Fernandez government's system of currency controls. However the unemployment rate in the second quarter fell to 7.2% according to official data.
Thursday, August 22nd 2013 - 00:37 UTC
China’s CNOOC and Dow in line to sign agreements to develop Argentina’s shale deposits

YPF, the energy company in which Argentina holds a majority stake said its next shale oil and gas partnership will be with a group including China’s Cnooc. A deal is expected to be signed sometime next month.
Thursday, August 22nd 2013 - 00:35 UTC
Rio do Janeiro mayor questions Brasilia’s 2016 Olympic Games policy

The mayor of Rio de Janeiro has said it is a shame his city will be hosting the Olympic Games in 2016 because Brazil lacks a sports policy. Eduardo Paes said that his city should not pay for high performance athletes.
Thursday, August 22nd 2013 - 00:33 UTC
Fed members agree to slow bond purchases but divided over when to start

The US Federal Reserve members appear to agree on slowing bond purchases by the end of this year if the US economy continues to improve, but remains divided over the exact timing of the move. That's the message from the minutes of the Fed's July 30-31 meeting released Wednesday.
Wednesday, August 21st 2013 - 18:50 UTC
Chile/Argentina row: Lan Chile evicted from Buenos Aires metropolitan terminal

Chilean president Sebastián Piñera has instructed Foreign minister Alfredo Moreno to immediately contact Argentine authorities following the decision by the government of President Cristina Fernandez ordering Lan Chile to move out from the metropolitan airport of Aeroparque in Buenos Aires.