More than ten investment banks, including Wells Fargo, HSBC, Merrill Lynch and Credit Suisse, will leave Argentina in the coming weeks, a Buenos Aires newspaper reported Monday.
Jazz Air Income Fund has agreed to invest 15 million US dollars for an indirect stake in Uruguay's flagship carrier, Pluna. The fund behind Air Canada's regional affiliate, Jazz Air, said that it will get a one-third, non-voting interest in Latin American Regional Aviation Holding Corp., which owns 75% of Pluna Lineas Aireas Uruguayas. The remaining 25% of Pluna is held by the government of Uruguay.
Uruguay is currently harvesting what is considered a record crop of soybean the ever expanding oil seed that as in neighbouring countries is taking over land from other exploitations and has made Mercosur the world’s leading producer and exporter.
Angry protestors from Argentina marched Sunday on to the bridge linking with Uruguay to express their disenchantment with the recent international court judgement on the pulp mill dispute, which confirmed the mill does not pollute and there’s no sufficient evidence for re-location or damages’ compensation as demanded by Argentine environmentalists.
Argentine Foreign Minister Jorge Taiana called on Gualeguaychú activists that keep international San Martín bridge blocked for more than three years to “reconsider their ways of action, mostly after the International Court of Justice ruling”.
Uruguayan President Jose Mujica and his Argentine peer Cristina Fernández de Kirchner are to meet next Wednesday afternoon in Buenos Aires in what is to be the first encounter after The Hague International Court's ruling on Botnia paper mill was made public Tuesday.
“There are no miracles; we feel cool about the decision”, said Uruguayan president Jose Mujica following the International Court of Justice ruling which means there will be no relocation of the Orion pulp mill which besides does not contaminate, as was claimed by Argentina when it presented its case back in 2006.
In its judgement on ”Pulp mills on the River Uruguay (Argentina vs. Uruguay)”, the International Court of Justice, (UN principal judicial organ) declared that Uruguay has not breached its substantive obligations for the protection of the environment provided by the Statute of the River Uruguay by authorizing the construction and commissioning of the Orion (Botnia) pulp mill.
Much as was anticipated, Uruguay and Argentina celebrated as favourable the ruling of the International court of Justice regarding a long standing pulp mills dispute, while environmentalists were totally disappointed and promised to continue and intensify their protests and pickets.
The world's large economies could make progress to revive stalled world trade talks at two G20 summits later this year, officials from farming nations said on Monday at a two-day meeting in Uruguay.