TLA Times | November 06, 2018
Figures from Nov 1st Source: www.xe.com
FUN IN THE SUN
Soybean, grain, other farm exports offset some effects of recession.
Argentina, which has raised taxes and cut spending to satisfy fiscal requirements of the International Monetary Fund, has been limping along economically. But one bright spot has been agriculture, Channel News Asia reports. Agriculture, led by soy beans, accounts for about half of the foreign currency that comes into the country, one economist says. Or as one farmer puts it: "Other countries have oil, but Argentina depends on its agricultural production." Details
Brazilian state oil company selling operations in Nigeria.
Expatica reports that Petrobras, trying to regain its footing after a major corruption scandal, is selling its 50 percent interest in Nigerian operations for $1.4 billion to a Vitol, a Dutch energy-trading firm. Petrobras has been selling off pieces of its portfolio to focus on operations off the Brazilian coast. The company announced its largest profit since 2011 in the second quarter. Details
Electric bus operating in Lima’s San Isidro district.
A Chinses-made bus has been hauling passengers in the financial district of Peru’s capital city for about a month, China.org.cn reports. Officials unveiled the bus for a wider audience last week at the 2018 ElectroTransporte trade show. The bus is a joint project of Engie Energy Peru and BYD, a Chinese vehicle maker. The cost of operating the bus is about 20 percent to 30 percent lower than a conventional bus, Engie business development manager Ivan Veloso says. Details
Carlos Slim among big losers from airport project’s cancellation.
Carlos Slim, who owns most of the shares in the real estate investment trust/limited partnership that was financing the construction of a second major Mexico City airport, stands to lose big on the project’s cancellation, Bloomberg reports. Andres Manuel Lopez Obrador, the incoming president who had been critical of the project, called it off following an informal referendum. The fear is that the leftist Lopez Obrador will take similar action on mining and oil contracts. Details