Stories for September 28th 2008
Melamine milk scare extends to instant coffee & tea products
The United States Food and Drug Administration (FDA) is alerting consumers that seven Mr. Brown instant coffee and milk tea products are being recalled by the Taiwanese company, King Car Food Industrial Co. Ltd., due to possible contamination with melamine. King Car Food Industrial Co. used a non-dairy creamer manufactured by Shandong Duqing Inc., China, which was found to be contaminated with melamine.
US/Bolivia clash over trade and drugs; OAS good offices
Organization of American States Secretary General Miguel Insulza said on Sunday he would request the United States to reconsider the decision to begin the process of suspending tariff benefits to Bolivia.
Rice meets Latam ministers to address political diversity
United States Secretary of State Condoleezza Rice met on Saturday with Foreign Affairs ministers from several Latinamerican countries to address the political and economic relation between the US and the region.
Spanish bank and UK government ready to take over B & B
Spanish bank Santander is on the brink of taking over the £20bn savings business of troubled bank Bradford & Bingley, the BBC has learned. Treasury officials and bankers are putting the final touches to a deal, says BBC business editor Robert Peston.
Brazil announces more oil and gas proven reserves
Brazil's oil and gas government managed corporation Petrobras announced the proven presence of oil in a well south of the Santos Basin, in sandy reservoirs above the salt layer. The discovery confirms the good light oil potential in the shallow water portion of the basin, said Petrobras in a brief release from last Friday.
Uruguay's trade deficit in 7 months reaches 1.2 b USD
Uruguay reported a trade surplus of 68.3 million US dollars after having accumulated 1.2 billion US dollars deficit in the first seven months of 2008, according to the country's Central Bank.
US Congress agrees to vote Monday bail-out package
The United States Congress is set to vote on Monday the largest single financial bailout in US history after leaders from both parties nailed down the details of the package, following long days and nights of tense and sometimes tempestuous negotiation.
The impact of transport costs on Latinamerican trade
Latin American exports' growth depends more on lower transport costs than on reduction of tariffs. This warning is in research “Unclogging the Arteries: A Report on the Impact of Transport Costs on Latin American and Caribbean Trade.”
ENAP exploring for coal methane gas in Magallanes
Chile is exploring for methane gas from the abundant coal reserves in the extreme south region of Magallanes, more precisely 80 kilometers to the north of Punta Arenas.
Pte. Correa claims “overwhelming” referendum victory
Ecuador's President Rafael Correa claimed on Sunday evening a “historic victory” in a referendum to give him new powers after exit polls said he easily won with 63 to 66% of the vote. Speaking from Guayaquil, an opposition stronghold, a jubilant Mr Correa said his constitutional reform proposals had been approved across the country.
