Stories for October 27th 2009
Trade disputes cast doubts on the “Argentine-Brazilian” strategic alliance
Trade obstacles imposed by Brazil against Argentine exporters in reprisal for similar measures by the Argentine government of President Cristina Fernandez de Kirchner escalated Tuesday when the Brazilian ambassador was summoned to the Argentine Foreign Affairs ministry.
Chilean salmon industry expects worst production ever in 2010
Trade association Salmon-Chile is predicting that next year will be Chile’s worst salmon production year in the industry’s history. Estimates show that approximately 300,000 to 350,000 tons of salmon will be produced in 2010 or roughly half the quantity produced in 2008 and 1,000 tons less than in 2009.
Brazil remains divided on Venezuela’s Mercosur incorporation
The president of the Brazilian Senate Jose Sarney reiterated Tuesday he does not support the incorporation of Venezuela to the South American trade block Mercosur, since “decisions from the government of that country represent a crumbling and deviation of democracy”.
Uruguayan ruling coalition retains majority in next Parliament
Uruguay’s ruling coalition obtained 47.49% of the vote in last Sunday’s general election according to the primary vote count from the country’s Electoral Court, thus confirming a run off for the presidential office at the end of November.
Brazil planning to cut taxes to stimulate domestic consumption
Brazil is considering extending stimulus tax cuts on home appliances even as the country’s economic recovery shows signs of gaining momentum. Tax cuts helped Brazilian auto industry sales to soar.
Uruguay’s flag carrier Pluna flies cargo between Santiago and Punta Arenas
Pluna, Uruguay’s flag carrier began this month commercial cargo flights between Santiago and Punta Arenas in the extreme south of Chile and has plans to incorporate passengers in the near future, reports La Prensa Austral.
Brazil Marfrig food company turns a profit in the third quarter
Brazilian food company Marfrig Alimentos, with strong interests in Uruguay and Argentina turned a profit in the third quarter of this year compared to a year ago, as new acquisitions boosted its capacity.
US largest commercial real-estate lender files for bankruptcy protection
Capmark Financial Group Inc., one of the largest commercial real-estate lenders in the United States announced that it had filed for bankruptcy protection. The firm said it has filed motions to allow it to continue to pay vendors and salaries, and that the move “should not impact the way Capmark does business with its customers and partners.”
Housing sales up 13% in Greater Santiago area
House and apartment sales in the Santiago Metropolitan Region have increased by 13.1% compared to 2008, the Chilean Chamber of Construction announced last week.
China launches stock market to help finance new industries
China is launching its long-awaited Nasdaq-style stock market in the southern city of Shenzhen. Twenty eight small- and medium-sized enterprises are expected to debut on the new exchange.
