Argentina' cabinet chief Alberto Fernandez confirmed Thursday that the coming week Venezuela will again purchase Argentine sovereign bonds for which we Argentines should, and must be fully acknowledged to President Hugo Chavez for the financial help extended.
Faced with the growing turbulence of global financial markets and Senator Cristina Fernandez October 28 presidential bid Argentine President Nestor Kirchner has instructed his advisors to promote domestic consumption and ensure economic expansion, but as of next November fiscal revenue must be higher than expenditure according to reliable political sources in Buenos Aires.
Chilean Episcopal Conference president Monsignor Alejandro Goic who played a leading mediation role in a labor conflict in the copper mines, said that one of the causes for labor strife are low salaries and suggested that the minimum salary should really be converted into an ethical salary.
Latinamerican economies are much better prepared than in the nineties to face financial turbulences, said on Friday Jose Luis Machinea, Executive Secretary for the United National Economic Committee for Latinamerica and the Caribbean, CEPAL.
Stock markets in United States fell heavily on Friday following a volatile week. The Dow Jones, which saw triple digit gains on Wednesday and Thursday, fell by 2.1%, 284.8 points, to 13,178.5. The Nasdaq lost 2.5% to 2,511.25 points.
Stock markets across Asia have suffered heavy falls on fresh concerns over the impact of the problems in the US housing market which on Tuesday caused sharp losses on Wall Street.
Shockwaves of still unknown impact crashed through financial markets Tuesday when the United States Melville-based American Home Mortgage Investment Corp. announced it was suffering credit problems and would consider going into liquidation among other options.
During the second quarter of this year Magallanes in the extreme south of Chile is again the country's region with the lowest unemployment level, 2.8%, while Punta Arenas and Porvenir are among the three cities with less people out of jobs, according to the latest release from the Labor Statistics Office.
For a sixth time this year China tightened credit on Monday in a new effort to cool its roaring economy, ordering banks to shrink the pool of money for lending by increasing their reserves.
Latinamerica is set to invest 267 billion US dollars in energy projects in the next two decades according to the United Nations Economic Committee for Latinamerica and the Caribbean, CEPAL.