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BRAZIL. Creation of a Mercosul criminal court proposed

 

By EDUARDO BRAVO LOSADA, CPA

 

 

The Sao Paulo Section of the Brazilian Bar Association recently presented the Mercosul Parliament with a proposal for the creation of a criminal court with jurisdiction over the Mercosul region (ie, Brazil, Argentina, Uruguay and Paraguay). Following the example of the International Criminal Court, the proposed Mercosul court would address crimes such as transnational money laundering and trafficking of people, drugs and arms.

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BRAZIL. New codes and unwelcome surprises

 

By EDUARDO BRAVO LOSADA, CPA

 

 

The drafting of new codes is in fashion in Brazil at present, but such change is not without resistance. When the proposed changes to the Consumer Defence Code were announced, commentators were first struck by the surprising nature of the content. Most worrying are the proposals to amend procedural provisions such as permitting the burden of proof to be shifted during sentencing.

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ARGENTINA. Government restricts payments for foreign services

 

By EDUARDO BRAVO LOSADA, CPA

 

 

As part of its aggressive policy to maintain its trade surplus, the Argentine government has recently introduced a new system imposing limits on payments for imported services. This system is similar in scope and operation to that in place for imports and is separately administered by the tax authority and the Central Bank (each using its own set of regulations).

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ARGENTINA. Petrobras will maintain investment plans in Argentina

 

By EDUARDO BRAVO LOSADA, CPA

 

 

Foster in talks over decision to revoke Brazilian company's concession 

 

Brazilian energy giant Petrobras will maintain its investment plans in Argentina, but the company's focus is on developing recently discovered ultra-deepwater fields found off Brazil's coast, chief executive Maria das Gracas Foster said. She was speaking after talks on a decision by Argentina's Neuquen province to revoke a Petrobras concession, Dow Jones reports.

 

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ARGENTINA. Doubles trade surplus on import controls

 

By EDUARDO BRAVO LOSADA, CPA

 

 

Trade partners riled as Fernandez restricts imports of goods

 

Argentina's trade surplus more than doubled in March to $1.08 billion from a year earlier as government controls that have riled trade partners succeeded in cutting imports for a second straight month, official data showed. President Cristina Fernandez has tightened controls on imports and foreign-exchange purchases since October to boost the trade surplus by reducing the volume of foreign-made goods entering the country, Reuters reports.

 

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SPAIN is losing its clout in Latin America

 

By EDUARDO BRAVO LOSADA, CPA

 

 

Threats over YPF nationalization sound more like pleas after years of decline 

 

Spanish and European leaders directed fresh threats towards Argentina over the nationalization of Spanish-controlled oil producer YPF. But in a clear sign of Spain's withering might in South America, their threats increasingly sound like pleas. Years of economic decline have diminished Spain's regional sway and there seems little Spain can do.

 

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LATIN AMERICA'S top 50 ports

 

By EDUARDO BRAVO LOSADA, CPA

 

 

Panama's Colon and Balboa lead the ranking followed by Santos in Brazil 

 

The Panamanian ports Colon and Balboa remained the top container ports in Latin America last year, according to data from the United Nations Economic Commission for Latin America and the Caribbean. Santos in Brazil remained the third-largest, followed by Cartagena and Buenos Aires. LBC ranks the top 50 regional ports in terms of container trade. 

 

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SOUTH KOREA plans $11 billion in VENEZUELA projects

 

By EDUARDO BRAVO LOSADA, CPA

 

 

Orinoco pipeline, a refinery, coke-fired power plant and an oil port

 

South Korea and Venezuela plan five heavy industry projects in the Latin American nation, including a crude oil distribution network, which the Korean government estimates may be worth $11 billion. An $8.8 billion will build a pipeline from the Orinoco oil fields to storage south of Caracas and a harbor on the coast. Other projects include a refinery and a $1 billion coke-fired power plant, Bloomberg reports.

 

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ARGENTINA. Repsol threatens companies that help YPF

 

By EDUARDO BRAVO LOSADA, CPA

 

 

Argentina has already held talks with leading oil companies on shale resources

 

The Spanish energy firm Repsol, whose Argentine unit YPF was nationalized last week, is considering legal action against companies that help Argentina exploit shale oil and gas sources the company had planned to tap. Argentine officials have wasted no time in lining up potential investors. They met last week with executives of French-owned Total Austral and Brazil's Petrobras. They planned to meet yesterday with executives from Chevron, ExxonMobil, and Apache, the AP reports.

 

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CHILE. A Chilean dairy finds export success in China

 

By EDUARDO BRAVO LOSADA, CPA

 

 

Watt's, a leading food company, unlocks secret to winning over Chinese consumers

 

It's never been a problem for Chile to sell copper to China, but a Chilean dairy? Watt's, one of Chile's leading food companies, hopes to find just the right fit in China-- capitalizing on a market that's increasingly open to foreign foods and increasingly able to buy them. Chinese consumers also seem willing to pay a little extra for foreign labels, but their tastes and buying patterns can be difficult to unlock, LBC reports.

 

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