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.
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.
Venezuelan opposition candidate Henrique Capriles claimed that acting president Nicolas Maduro with his latest decision approving a new devaluation of the local currency Bolivar is destroying the country, and he is achieving it in the hundred days he has been running the government.
The Venezuelan government said on Wednesday it has suspended a channel of communications with Washington as it escalates tension and polarizes public opinion ahead of elections to replace the late president Hugo Chavez.
President Cristina Fernandez called an urgent meeting on Wednesday evening of her economic team following a day of hectic trading in the currency exchange market which had the US dollar climb to 8.75 Pesos in the parallel market, expanding the gap with the official rate to almost 70%.
The governments of Mexico and Brazil have agreed to the exemption of the short-stay visas in ordinary passports for their citizens. The move is designed to increase the flow of travellrs between the two nations.
The number of cruise-vessel calls in Uruguayan ports has increased 9.3% so far in this 2012/13 season with an influx of 20 million dollars for the local economy revealed Deputy minister of Tourism Antonio Carambula during a primary evaluation of business vis-à-vis the 2011/12 results.
South American countries, as in other times are again attracting migrants looking for work and a place to live, according to a report from the International Organization for Migration, IOM, which states that the US and Canada continue to lead immigrant preferences in the Americas but interest has started to drop.
Chile’s GDP expanded 5.6% in 2012 as a boom in the mining and real estate industries demand boosted investment and sparked an increase in consumer spending. The economy grew 5.7% in the fourth quarter from 2011, the central bank said in a report on its website.
The UK has appointed ambassador to Paraguay as part of the current government’s plan to recover lost ground in Latinamerica. The British embassy in Asunción was closed in 2005 and has since had a non resident ambassador based in Buenos Aires.