Archive for April 5th, 2008

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India’s oil major ONGC to invest 450 million dollars in Venezuela

Posted by Dave
April 5, 2008

via Earth Times
India’s Oil and Natural Gas Corporation (ONGC) will be investing about 450 million dollars in Venezuela where it has picked up a 40-per-cent stake in an oil field, India’s Petroleum Minister Murli Deora said on Saturday. The state-run company acquired the stake in the San Cristobal oil field in the Orinoco basin which [...]

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Peruvian economy on a roll – investment grade rating from Fitch

Posted by Dave
April 5, 2008

Grew 9% last year, on course for 7% this year. Indian investors take note.
via Reuters
INVESTMENT GRADE, DEBT
Fitch on Wednesday raised its foreign currency sovereign credit rating to “BBB-” from “BB+” with a stable outlook.
Standard & Poor’s rates Peru at “BB+”, one notch below investment grade, while Moody’s Investors Service rates Peru two notches below at [...]

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Mercado Libre – Latin America’s E-Commerce Leader

Posted by Dave
April 5, 2008

Some stats on LatAm on an article about Mercado Libre (“Free Market” in English) – a company founded in Argentina in 1999. The eBay of Latin America. Argentina has a lot of tech/engineering talent. (Incidentally, Argentina has 3 Nobel Science Prize winners – same as India but with 3.5% of its population)
Not surprising, that Indian [...]

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Champions of the world: Argentina’s sporting miracle

Posted by Dave
April 5, 2008

You have to work hard to see an overweight person on the streets of Buenos Aires. All youngsters look quite athletic.
via The Independent
Sport comes easy to most people here. Without the financial advantages of so many of the world’s leading sporting nations, Argentina is producing an ever-increasing number of champions across a whole range of [...]

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From the land of Maradona

Posted by Dave
April 5, 2008

Visiting Argentina to explore opportunities for Indian business. Walking around in the Palermo neighborhood today, I saw a bunch of kids playing football. Brought back memories of the quarter-final between England and Argentina in the 1986 world cup and the incomparable Diego Armando Maradona “Hand of God” goal. What a game! Here’s a video (ad [...]

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Ban on edible oil futures won’t help

Posted by Dave
April 5, 2008

Potential to add imports of sunflower oil from Argentina to mix. Banning futures trading is counter-productive and will hurt commodity producers since it doesn’t allow for adequate risk management.
via Business Standard
Of the annual consumption of around 11 million metric tonnes (mmt) of edible oil, India imports around 4 mmt of palm oil and 2 mmt [...]