The U.S. Geological Survey estimates that the Glauconitica zone of Chile's southernmost Magallanes region holds nearly 8.3 trillion cubic feet of technically recoverable, unconventional tight gas, or nearly double Chile's production of that fossil fuel over the past 70 years.
The Trans Pacific Partnership, one of the biggest multinational trade deals ever, has been signed by ministers from its 12 member nations in New Zealand. The ceremony in Auckland brings the huge trade pact, which has been five years in the making, another step towards to becoming a reality. But the TPP continues to face opposition.
Argentina announced Tuesday that it reached a $900 million preliminary accord to settle its pending debt with 50,000 Italian holders of defaulted Argentine government bonds. Finance minister Alfonso Prat-Gay said that the agreement with Italian bondholders includes the Argentine government's acknowledgement of the debt and reasonable interest.
Brazil factories and mine production plunges 8.3% in 2015, with little prospects of change in the short term
Industrial output in Brazil fell for a seventh straight month in December, capping the worst year for manufacturers in more than a decade as they struggle with inflation, high interest rates and political uncertainty.
Brazilian airline shares soared nearly 30% on Monday after a newspaper report said the government may scrap limits on foreign ownership of domestic airlines to attract investment to the struggling sector. President Dilma Rousseff may propose legislation giving her discretion to let foreign groups own as much as 100% of local airlines, up from 20%, Valor Econômico reported.
BP slumped to its biggest annual loss last year and announced thousands more job cuts on Tuesday, showing that even one of the nimblest oil producers is struggling in the worst market downturn in over a decade.
Bacardi filed suit on Monday against the United States demanding an explanation of its decision to let Cuba sell Havana Club rum in the United States once the U.S. trade embargo against the Castro brothers' island is lifted.
FIFA has cut off funding to the corruption-hit confederations for football in the Americas, the global football body said on Monday, in a move which could cause future cash flow problems for the two organizations.
Employment in Magallanes Region, extreme south of Chile remains strong according to the latest data released by the Chilean stats office, INE, which covers the fourth quarter of 2015 (October/December). While the national unemployment average stands at 5.8%, Magallanes figures with 2.6 percentage points below.
Fish landings in Argentina totaled 752,359.1 tons in 2015, which represents 4.2% less than the previous year, according to the latest from the National Under secretariat of Fisheries. Among the main species of commercial importance, Illex squid (Illex argentinus) led the decline with a drop of 25%, with landings amounting 126,531.4 tons until 30 December 2015.