TLA TIMES | August 2, 2018
Figures from July 27 Source:www.xe.com
FUN IN THE SUN
You can skate or ski at Cerro Castor.
Anglo American goesall in on giant copper mining project.
Bloomberg reports that Anglo American has decided to go forward with a $5 billion copper mine, the Quellaveco project, in Peru at a time when its rivals are pulling back and paying larger dividends to shareholders. Anglo American, nearly wiped out in the commodity crisis of 2014-15, is partially shielding itself from risks by bringing in Mitsubishi for a 40 percent stake. “Not many people have the opportunities we have in the portfolio,” CEO Mark Cutifani tells the news service. “It’s a rare opportunity to develop a copper asset of scale.” Details
SBM Offshore settles in Brazil corruption case, can start ventures.
Dutch engineering firm SBM Offshore reached a settlement in a headline-grabbing corruption probe, Reuters reports via Nasdaq.com. Authorities accused SBM Offshore of bribing officials in order to get a contract with state oil company Petrobras. SBM Offshore agreed to pay the government $189 million and to put off receiving an agreed upon $180 million bonus until 2030. The settlement allows the engineering firm to begin new projects. Details
Argentina making progress in cutting debt, IMF official says.
Reuters reports via the Business Standard that International Monetary Fund Managing Director Christine Lagarde says Argentina is "unequivocally" making headway in cutting its debt. Argentina’s inflation in June was above the target rate, but Lagarde said the country is getting its fiscal situation under control. "We have respect and encouragement for the policies that are being developed by the government of Argentina," she told reporters. Details
San Miguel de Allende top choice in vote of Travel + Leisure readers.
For the second year in a row, Travel + Leisure readers chose San Miguel de Allende as their favorite city in the world. Readers were asked to judge cities they had visited on the basis of value, landmarks, shopping, culture, friendliness and food. San Miguel de Allende received high marks for its architecture, including the iconic Church of the Immaculate Conception, and its 18th century murals. The city offers a wide variety of cuisine, with over 350 restaurants and markets. Details
Business group displeased over delaying oil auctions.