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 has a reserve of about 250 million tons, Deora told reporters in India’s western city of Mumbai.
Popularity: 3% [?]
Grew 9% last year, on course for 7% this year. Indian investors take note.
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 “Ba2″.
“The economic performance we’ve been having is very positive and at some point the two other agencies will feel more comfortable about giving us investment grade,” he said.
What the ratings upgrade means: Further upgrades would give Peru wider access to cheaper, longer-term debt and lure more investments from abroad.
Popularity: 3% [?]
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 companies like Cognizant, ICICI OneSource, CRISIL are setting up operations here. Less employee turnover as well.
Popularity: 3% [?]
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 sports.Football has long been king in this corner of the planet and the 1978 and 1986 World Cup winners have always exported their greatest talents to the game’s biggest clubs, but Argentines are now taking other stages by storm. The golfer Angel Cabrera won last year’s US Open, Argentines swamp the men’s world tennis rankings, Manu Ginobili is one of the big names of American basketball and even the country’s rugby union players went further than the All Blacks in finishing third in last year’s World Cup. Read the rest of this entry »
Popularity: 3% [?]
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 for Quilmes – Argentina’s “national beer” that captures the passion of football, the state religion of Argentina, a la cricket in India.
Popularity: 3% [?]
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 of soyabean oil. The monthly trading of edible oil in 2007-08 in Indian commodity exchanges averaged 2.2 mmt.
Bonus Link: Setting up a commodity futures market is the first attempt to reform agriculture in India
Popularity: 2% [?]
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