Brazil's Central Bank Monetary Policy Committee, Copom, announced Wednesday a half percentage cut in the basic interest rate or Selic, which dropped from 12% to 11.50% on an annual basis.
For the first time since Argentina begun its strong recovery in 2003, industrial production contracted apparently because of the escalating energy problems and restrictions, according to the Buenos Aires think-tank FIEL which regularly releases monthly reports on economic and other activities.
The first fishing vessel powered with bio-fuel, a mix of micro Patagonian algae with hake and squid residue, set to sea from Comodoro Rivadavia this week reports the Argentine press.
Bolivia signed a 2.1 billion US dollars mining deal with Indian company Jindal Power & Steel Ltd. after more than a year of negotiations for the exploitation of vast iron deposits near the Brazilian border.
Federal Reserve chairman Ben Bernanke revived fears Wednesday that the housing slump could derail a pick-up in the US economy. In his semiannual testimony before the US Congress, Bernanke predicted moderate economic growth through the second half with a bit of strengthening in 2008.
Investigations are continuing into what caused Brazil's worst air disaster, as attention turns to the plane's landing speed and the general safety conditions of the country's busiest airport which could end being closed down.
United States Treasury Secretary Henry Paulson endorsed Chile's bid to become the second Latin American nation, after Mexico, to enter the Organization for Economic Cooperation and Development.
Chile's government has acknowledged for the first time that sea lice – parasitic crustaceans that affect both wild and farmed fish – are causing serious problems for the country's lucrative farmed salmon industry.
To the innocent passer-by, the scene at Outwood Cricket Club last Thursday might have appeared to be a typical English cricket match, reports Berkshire.co.uk
Pointing to weaknesses in food safety systems around the world, two United Nations agencies urged all countries to be vigilant when dealing with traders and producers that affect the supply line.