Investments

• Friday, August 5th 2011 - 01:43 UTC

  China takes over South Africa’s Standard Bank network in Argentina

  

  Industrial and Commercial Bank of China Ltd (ICBC) announced Friday it would buy stakes in Standard Bank Argentina and another two institutions from Standard Bank Group Ltd for about 600 million dollars as it expands into South America as part of its global strategy that includes Europe, India and Pakistan.

• Wednesday, August 3rd 2011 - 22:02 UTC

  Uruguay’s second pulp project receives 200 million loan from IDB

  

  The Inter-American Development Bank (IDB) approved a 200 million dollars loan for Uruguay’s second major pulp mill investment, Celulosa y Energía Punta Pereira S.A. and Zona Franca Punta Pereira S.A., belonging to the Montes del Plata Group.

• Wednesday, August 3rd 2011 - 06:58 UTC

  CFK and Mujica underline ‘importance of dialogue’ and overcoming conflicts

  

  President Cristina Fernandez de Kirchner, CFK, underlined the importance of dialogue between Argentina and Uruguay which enable to overcome ‘conflicts’, while her Uruguayan peer Jose Mujica said that the “good neighbours” policy is the only way forward and a win-win situation for both sides.

• Wednesday, August 3rd 2011 - 02:53 UTC

  Uruguay disappointed with Indian group downgrading iron-ore project priority

  

  The Uruguayan government was taken aback by the announcement that the Indian iron-ore mining group Zamin Ferrous has decided to downgrade the priority of its several hundred millions dollar project in Uruguay from position one to four.

• Tuesday, August 2nd 2011 - 15:41 UTC

  Uruguay condemns statements denying Holocaust by Iran ambassador

  

  Uruguay has condemned statements denying the Holocaust made by Iran's ambassador in Montevideo Hojatollah Soltani

• Monday, August 1st 2011 - 22:51 UTC

  Uruguay/Argentina summit will address canal dredging and power transmission

  

  The dredging of the Uruguay River and access to the Martin Garcia canal as well as importing power from Paraguay are the two main issues of the agenda to be addressed by Presidents Jose Mujica and Cristina Fernandez de Kirchner when they meet Tuesday in Buenos Aires.

• Monday, August 1st 2011 - 22:47 UTC

  Record Foreign Direct Investment in Uruguay in 2010 with 2.35 billion dollars

  

  Foreign Direct Investment, FDI, in Uruguay was record in 2010 with 2.35 billion dollars (47.8% higher than in 2009) according to the latest report on global investment from the UN Conference on Trade and Development, UNCTAD. FDI represented 30.5% of total gross investment in Uruguay last year.

• Tuesday, July 26th 2011 - 08:25 UTC

  S&P upgrades Uruguay’s rating to BB+, just one notch below investment grade

  

  The credit rating agency Standard & Poor’s upgraded on Monday Uruguay’s rating by one notch to BB-plus, only one notch below investment grade, praising years of “prudent and consistent” economic policies in the country.

• Tuesday, July 26th 2011 - 08:06 UTC

  Mexico Pemex buys Repsol shares, becomes third largest stock holder

  

  Mexico's state oil monopoly Pemex said on Monday it recently bought 825,150 shares in Repsol YPF, increasing its stake in the Spanish company to 5%. The stock purchase took place on July 13, Pemex's finance department said, without giving details of the cost of the deal.

• Monday, July 25th 2011 - 22:10 UTC

  Chile’s Comptroller clears Piñera of conflict of interest in Patagonian coal mine

  

  Opposition to the Isla Riesco coal-mining project in the extreme south of Chilean Patagonia suffered a setback Thursday when Chile’s Comptroller General rejected accusations of a conflict of interest at the highest level of government.