Uruguay needs “new markets and new partners” and must try to diversify trade with the largest possible number of agreements to make Mercosur more flexible and anticipate the current process in Argentina, said President Jose Mujica.
Brazil's government unveiled on Wednesday measures to lure up to 133 billion Reais (66 billion dollars) in private investment for new roads and railways needed to unclog the country's transportation bottlenecks.
Uruguay's central bank unveiled measures on Wednesday aimed at cooling the local Peso's appreciation by discouraging foreign investment in the bank's short-term debt. To combat the Peso's rise, officials ordered that 40% of new foreign capital invested in central bank bills be frozen in an account at the central bank.
Chile's newly merged regional carrier LATAM Airlines said on Monday it would spend 7.87 billion dollars on its fleet through 2014. The airline aims to have a 359-strong fleet by 2014, up from the 319 planes projected for this year.
Argentina’s nationalized YPF oil and gas corporation will issue bonds for 3.5 billion Pesos (760 million dollars) as part of its push to reduce fuel imports by investing in domestic output, the energy company said in a letter to regulators on Monday.
The incorporation of a major oil company is a sign of confidence in the future of the Falklands hydrocarbons industry and by any standards “absolutely fantastic”, said the Islands governor Nigel Haywood during an official reception at Government House for Rockhopper Exploration and their UK partners Premier Oil.
Peru will be hosting next October the III Summit of heads of state and government from South America and Arab nations which is expected to bring together 32 countries, according to Deputy Foreign Affairs minister Jose Beraún.
The Uruguayan construction industry faces tough years ahead because of the international crisis and its effects on neighbouring Argentina, forecasted economist Jorge Caumont who is also an advisor of several real estate agents.
Trade with China for Argentina has great opportunities but also great threats because the Asian giant is only interested in produce with no added value, warned the head of Argentina’s Industrial Union, Ignacio De Mendiguren.
Billionaire computer magnate Bill Gates is to fund a €8m research project into whether cereal crops can be genetically engineered with nitrogen-fixing bacteria.