Investments

Investments
Thursday, June 18th 2009 - 14:32 UTC

Lan Cargo and GE sign 12-year maintenance program for turbines

The Chilean flag air carrier has one of the most modern fleets in the world.

Chile’s Lan Cargo signed a twelve year agreement with the Aviation Department of General Electric for the maintenance, upkeep and repair of the GE90-110B engines of its fleet of four Boeings 777. The operation involves 135 million US dollars.

Wednesday, June 17th 2009 - 12:10 UTC

Oil and gas exploration off Comodoro Rivadavia begins August

Pan American Energy has contracted Western Geco for the seismic surveying

Argentine oil and gas company Pan American Energy will invest 80 million US dollars in the first phase of an offshore exploration program in the San Jorge Gulf in Patagonia, next to Comodoro Rivadavia, the company said Tuesday in a statement.

Wednesday, June 17th 2009 - 06:08 UTC

Uruguay confident that Portuguese pulp mill project remains on track

Forestry, pulp and paper have become a booming industry for Uruguay

Uruguay and the Brazilian state of Matto Grosso are disputing the massive investment of almost two billion US dollars in a pulp and paper plant which one of Portugal’s largest corporations is planning to build in South America, reported this week the Lisbon business daily Economico.

Tuesday, June 9th 2009 - 09:44 UTC

Repsol, Petrobras and BP to explore for oil next to Falklands’ waters

Oil exploration activity in the South Atlantic seems to be speeding up.

A consortium led by Spanish oil firm Repsol YPF SA (REP) plans to explore for oil in international waters between Argentina and the Falkland Islands, officials from the company said Monday.

Monday, June 8th 2009 - 14:04 UTC

World airlines 'face $9bn loss'

Iata says the environment now is worse than the period after 9/11 for airlines

The global airline industry has nearly doubled its expected losses for the year to $9bn amid what it calls an unprecedented crisis.

Sunday, June 7th 2009 - 13:47 UTC

New Chilean domestic airline takes off June 18

Private carrier, Principal Airlines begins flying to north Chile

Principal Airlines’ (PAL) imminent domestic service between Santiago, Antofagasta, and Iquique has officially received flight authorization from the Chilean Civil Aviation Authority.

Sunday, June 7th 2009 - 13:43 UTC

Fighting in the Peruvian Amazon turns ugly; death toll in the fifties

President García’s push to develop resources turning into a political storm

Nine Peruvian police officers were killed Saturday after security forces regained control of a petroleum facility in a remote jungle region from indigenous groups that are protesting against logging and oil exploration rights awarded by the government.

Saturday, June 6th 2009 - 14:07 UTC

Chinalco “disappointed” with Rio Tinto’s decision to scrap deal

Chinalco determined to become global mining company with multi-metal products

Aluminium Corp. of China, or Chinalco, confirmed Friday that Australian mining firm Rio Tinto has scrapped the proposed 19.5 billion US dollars of investment by Chinalco, and Rio Tinto would pay a break fee of 195 million U.S. dollars to the Chinese aluminium maker.

Saturday, June 6th 2009 - 14:01 UTC

Rio Tinto decision was not “political” Australia assures Beijing

Australian PM Rudd had to reassure that “Chinese investment is welcome”

The Australian government reassured China on Saturday that miner Rio Tinto's decision to walk away from a 19.5 billion US dollars by investment by Beijing was not a political move.

Thursday, June 4th 2009 - 15:15 UTC

GM Latinamerica one of the most profitable, and with plenty of credit

CEO Ardila is most enthusiastic about the Brazilian auto market.

General Motors operations in Latinamerica, Africa and the Middle East remain as strong as ever in spite GM Corp. filed in the US for bankruptcy protection this week, a top official from the company said.

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