Investments

• Tuesday, March 26th 2013 - 22:44 UTC

  March-bonus for 7 million low income Chileans, handout in presidential election year

  

  Chilean president Sebastian Piñera signed this week a bill which grants a special ‘March-bonus’ to low-income families and is extensive to seven million people. Each beneficiary will receive the equivalent of 85 dollars which will represent for the Treasury an outlay of 208 million dollars.

• Tuesday, March 26th 2013 - 21:55 UTC

  Argentina’s tax office targets main grain exporters; demands 951 million dollars in alleged arrears

  

  Cargill Inc. and Bunge Ltd. are among grain exporters that allegedly owe the Argentine government 951 million dollars in taxes and won’t be eligible for a reduced interest rate under a payment plan unveiled by the government this week.

• Tuesday, March 26th 2013 - 21:33 UTC

  Setback in New York court for Argentina’s strategy in its battle with bond holdouts

  

  A US court in New York on Tuesday rejected Argentina's request for a full-court rehearing of an appeal it lodged as it struggles to shake off holders of 1.3 billion dollars in defaulted bonds.

• Tuesday, March 26th 2013 - 05:48 UTC

  BRICS summit to discuss creation of development bank with 50bn initial capital

  

  Brazilian President Dilma Rousseff will attend this week's BRICS summit of five emerging powers hosted by South Africa to discuss creation of their own development bank, the Planalto office announced.

• Tuesday, March 26th 2013 - 05:02 UTC

  Brazilian supermarkets will not sell meat from cattle raised in Amazon rainforest

  

  The main group representing supermarkets in Brazil says it will no longer sell meat from cattle raised in the rainforest. The Brazilian Association of Supermarkets, which has 2,800 members, hopes the deal will cut down on the illegal use of rainforest for pasture.

• Monday, March 25th 2013 - 05:16 UTC

  EU, ECB and IMF agree on a deal to bailout Cyprus; no Parliament vote

  

  Euro-zone finance ministers have agreed a deal on a 10bn-Euro bailout for Cyprus to prevent its banking system collapsing and keep the country in the Euro-zone. Asian financial markets rose in early trading on news of the deal.

• Monday, March 25th 2013 - 04:45 UTC

  Falklands ‘a NATO base’ and the referendum ‘unacceptable and ridiculous’, says Uruguay

  

  Two of Uruguay’s President Jose Mujica closest ministers, Defence and Foreign Affairs said that the ‘British occupation’ of the Falkland Islands is ‘unacceptable’, represents a NATO base in the South Atlantic and described the recent referendum in the Islands as ‘absurd and ridiculous’.

• Friday, March 22nd 2013 - 06:36 UTC

  Pescanova planning to sell assets in Chile to reorganize finances

  

  The main creditor banks of the Galician multinational firm Pescanova, (which is under a probe from the Spanish stock market regulator), argue that the only way the firm can reorganize its financial situation is through the total or partial sale of its subsidiary in Chile by means of a Preventive Judicial Agreement.

• Friday, March 22nd 2013 - 02:18 UTC

  India, seventh market for Brazilian exports; bilateral trade reaches 10.6bn dollars in 2012

  

  By R. Viswanathan - India's trade with Brazil reached 10.6 billion dollars in 2012 (January to December), increasing by 15% from 9.2bn in 2011. Twenty years back, in 1992 bilateral trade was just 177 million dollars. Ten years back, in 2002, it was 1.2 billion dollars.
  India's exports to Brazil declined in 2012 to 5.04bn from 6bn dollars in 2011.

• Wednesday, March 20th 2013 - 08:29 UTC

  Suspended potash project top officials left Argentina following union threats

  

  Top officials from the Brazilian mining company Vale which suspended a 6 billion dollars potash development project in Argentina left the country for Sao Paulo last Friday following “on instructions from the security department” of the corporation, according to reports in the Brazilian press.