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Olam, Singapore owner of Argentine and Uruguay farms profit slumps

Photo: CEO Sunny Verghese Olam Olam International Ltd., a Singapore commodity trader controlled by the city’s state investment company and owner of considerable land holdings in South America, reported a 30 percent drop in third-quarter profit as sales of food staples declined and subsidiary like New Zealand Farm Systems continued to struggle.  Olam purchased 100% of NZFS in 2012 from its New Zealand based shareholders hoping to turn this 49 farm, 85,000 stock units around from previous years of below par…

China’s slowdown will hurt South America

China’s slowdown will need to be well managed in the major South American economies of Argentina, Brazil and Venuszula or it will mean increased poverty and social unrest. This is the message from the China Business Summit for those willing to listen. Whilst China was booming, populist policies with no accountability and combined high levels of corruption from within these countries  could be papered over by the draining of Reserves and the plundering of Government coffers. Now the financial situation…

Uruguay’s Property Prices show mixed results

After two years of house price falls Uruguay’ property prices still show mixed results. In Montevideo Uruguay’s capital city property market is now showing slow signs of modest improvement. On the other hand luxury resorts like Punta del Este once a haven for undeclared money prices have declined with little demand for anything but prime properties that are well priced. During 2014, house prices in the capital city Montevideo rose by 4.6%, to an average of US$159,522, based on data compiled by…

✔ Argentines are the most fluent English-speakers in Latin America

Argentines are the most fluent English-speakers in Latin America according to the EF English Proficiency Index 2015 report — a study that analyzes the State of Worldwide English Proficiency. Globally the country came in 15th place out of the 70 countries that participated in the study, which uses test data from 910,000 adults. Although first place went to Sweden, as it earned 70.94 points according to the English Proficient Index point system used, Argentina was well ahead of its neighbours with a 60.26 point…

Chile’s Vineyards Are Booming

These are boom times for the vineyards of Chile. The latest figures from the International Organisation of Vine and Wine reveal a record year for the South American nation, with wine production up 23%. Chilean wine has long been considered good value for money, a reliable, inexpensive and safe everyday option. But there’s far more to it than budget Sauvignon Blancs; you can also find wines of far superior quality. Jane MacQuitty, in her weekly wine page in The Times (of London), for example, has just recommended…

Paraguay, Latin America’s growth champion

image of Paraguay attracts investments from Uruguay
Paraguay’s central bank is not ready to give any more juice to an economy that is turning into Latin America’s growth champion. The South American country, landlocked between Brazil, Argentina and Bolivia, is focused on keeping inflation at bay and won’t risk missing its 4.5 percent target to speed up growth as its neighbours weaken, central bank President Carlos Fernandez Valdovinos said October 12. The one percentage-point reduction to 5.75 percent in the key interest rate this year has already put…