Latin America

• 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 - 23:18 UTC

  Brazil confirms contract of 4.000 Cuban doctors to work where local professionals don’t want to go

  

  Brazil's foreign minister on Thursday denied that the government's plan to hire 4,000 Cuban doctors to work in isolated areas has any “ideological aspect.” The decision “was taken to improve public services and has no ideological motivation of any kind,” Antonio Patriota told a congressional committee.

• 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.

• 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.

• Wednesday, August 21st 2013 - 18:36 UTC

  Controversy with FIFA over hotel prices for the 2014 World Cup

  

  The Brazilian government has expressed concern that some hotels listed on FIFA website for the 2014 World Cup plan significant price increases during the tournament. Brazil’s tourism board, Embratur, is said to have notified the justice ministry after its research showed that rates will be up to 500% more expensive during the World Cup in some hotels offered by the MATCH Services agency on FIFA website.