Stories for June 28th 2008
Member countries integrate 10 billion USD to the S. Bank
The South American country founders of the South (Development) Bank decided to integrate ten billion US dollar in capital to the budding institution out of an authorized total of 20 billion.
Spanish group planning to build several hotels in Chile
Spanish hotel giant Sol Melía plans to open three hotels in Chile. The company is also bidding for the two hotels that will be a part of Santiago's future Constanera Center, an ongoing development and construction project featuring four skyscrapers, built in one of Santiago's business districts, Providencia.
Brazilian inflation at its fastest pace in over five years
Brazil's monthly inflation accelerated to its fastest pace in more than five years on rising wholesale prices for manufacturers. The IGP-M price index, Brazil's broadest measure of consumer, construction and wholesale prices, rose 1.98% in June, up from a 1.61% surge in May, according to the Getulio Vargas Foundation.
Mercosur agenda with long list of controversial issues
Productive integration for small and medium sized companies plus a special financing fund for that group of companies and a technological renovation plan are some of the main issues in the official agenda to be addressed by the coming Mercosur summit to be held in the Argentine province of Tucuman.
Paraguay headed for a record beef export year: 600 million USD
Paraguayan beef exports are scheduled to break all records reaching over 600 US dollars which represents a 25% jump over 2007 according to an article published in the country's “ABC Color”.
Crude record prices send global stock markets tumbling
Global stock markets have suffered a sell-off sparked by concerns about the global economy and crude oil prices which have hit a new record. New York's Dow Jones closed down 0.93%, or 106.9 points, at 11,346.51 as the cost of oil rose to a fresh high above $142 a barrel.
Colombia, Ecuador drop plans to restore diplomatic ties
Relations between Colombia and Ecuador grew chillier Tuesday, as Colombia postponed restoring diplomatic ties at the level of trade-attache because of “aggressive” remarks by Ecuadoran President Rafael Correa.
Lula, Chavez initial 21 energy and trade agreements
The presidents of Brazil and Venezuela, Luiz Inácio Lula da Silva and Hugo Chávez, respectively, met June 27 in Caracas to address economic issues aimed at reinforcing bilateral cooperation.
