President Hugo Chavez said China is set to rival the United States as Venezuela's top oil buyer as he announced new plans with the Asian powerhouse to jointly ship oil, build refineries and expand crude production.
Sales of new homes in United States dropped for the second month in a row this year, 15.8% in January and 3.9% in February, according to the Commerce Department.
The Uruguay/Argentina controversy over the construction of pulp mills escalated another step Monday when the Finnish company Botnia, next to Uruguayan government officials, announced in Montevideo the plant would begin production next September, which is a month before presidential elections in Argentina.
China's largest domestic automaker announced Friday the opening of an assembly plant in Uruguay with an Argentine partner, marking the first investment by a Chinese company in an auto factory in South America.
Chilean companies are set to continue a long-established trend of investing in other Latin American countries in 2007 as they outgrow their home market, with Colombia the preferred destination and retailers the biggest spenders according to the latest report from the Santiago Chamber of Commerce.
The Chilean and Japanese governments will sign a free trade agreement (FTA) on March 27, which constitutes a step forward in reinforcing Chile's presence in Asia, where it currently holds agreements with China (2005) and South Korea. The new convention is similar to others agreed to by the European Union (EU) and the United States.
Ecuadorian president Rafael Correa declared Tuesday a national roads system emergency and ordered the Army to begin the construction and maintenance of the country's road network to be financed with funds originally destined to honor foreign debt payments.
Natural gas price has become the main obstacle for India's Jindal Steel & Power corporation project to develop Bolivia's richest known reserves of iron.
The controversial Botnia-Orion pulp mill under construction in Uruguay and challenged by Argentina, is keeping to the timetable and forecasted to be officially inaugurated sometime in the third quarter of this year (July-September), according to reliable sources from the Finnish corporation.
The head of the United Nations Educational, Scientific and Cultural Organization (UNESCO) offered Chile assistance in repairing damage caused by the fire that destroyed part of the historical centre of the port city of Valparaiso last week, killing several people.