Latin America

Latin America
Saturday, October 31st 2009 - 07:03 UTC

Venezuela/Brazil agree terms of refinery to be built in Pernambuco

Petrobras share is 60% but both partners will supply 50% of crude

Brazil's government managed oil company Petrobras said on Friday that it had concluded a deal with Venezuela's PDVSA to construct and operate a refinery in northeast Brazil.

Saturday, October 31st 2009 - 06:06 UTC

Colombia and US sign bases’ agreement in closed doors ceremony

The pact maintains immunity from prosecution

Colombia and the United States signed Friday in Bogotá the controversial agreement that allows US military personnel to be stationed at seven (land, air, sea) military bases in Washington’s closest ally in the region.

Saturday, October 31st 2009 - 05:32 UTC

Chilean Central bank could begin hiking interest rate next second quarter

Central bank president Jose De Gregorio

The Chilean central bank will likely begin hiking the benchmark interest rate, currently at a record low 0.5%, in the second quarter of next year, according to the minutes of its October monetary policy meeting released Wednesday.

Saturday, October 31st 2009 - 01:16 UTC

Zelaya and Micheletti agree to deal to end the institutional crisis

The ousted president must still work out an understanding with Honduras Supreme Court and Congress

The de facto Honduran government has agreed to an eight point deal that may allow ousted President Manuel Zelaya to return to power ahead of elections next month. Unite States diplomats have been in the country to mediate an end to the four-month-old crisis.

Friday, October 30th 2009 - 21:59 UTC

Argentina buys wine from Chile to face shortfall in production

Wine production in Mendoza is down 30%

Still hurting from a yearlong drought, Argentina is turning to Chile for wine imports in order to keep up with popular demand for wine.

Friday, October 30th 2009 - 21:56 UTC

Ecuador signs arms and energy deals with Russia: “just the beginning”

Rafael Correa signed the agreements at the Kremlin

President Dmitry Medvedev called new arms and energy deals between Russia and Ecuador just a beginning as Moscow strives to deepen ties in Latin America. Medvedev and Ecuadorean President Rafael Correa announced a 22 million US dollars deal for Russia to provide Ecuador with two Mi-17 transport helicopters.

Friday, October 30th 2009 - 21:51 UTC

Ecuador to pay royalties on pharmaceutical patents

Ecuador is to pay royalties to the holders of international pharmaceutical patents, basing the payments on the sale price of locally produced medicines, the Ecuadorian Institute of Intellectual Property, or IEPI, said this week.

Friday, October 30th 2009 - 11:10 UTC

Argentina Chile plan to bore two integration tunnels under the Andes

The two ladies at the Chilean government house, Casa de la Moneda

Relations between Argentina and Chile are going through an optimum moment and once we drill through the Andes, “ghosts of the past will definitively have gone”, said Argentine president Cristina Fernandez de Kirchner during the first of her two day visit to Chile.

Friday, October 30th 2009 - 07:35 UTC

Cuba’s Sugarcane Ethanol Potential: the Return of King Sugar

“Central America and the Caribbean, historical sugar-producing economies where the sugar-ethanol infrastructure already has a foundation, labor costs are low, and the political conditions are more or less stable– offers the best near-term potential for large-scale sugarcane ethanol production. This is a market opportunity which Cuba, with the longest experience of sugar–ethanol and sugarcane derivates production in the region, is positioned to take advantage of”.

Friday, October 30th 2009 - 06:38 UTC

NYT praises Chile’s Bachelet handling of the crisis and her style of government

Bachelet: twenty ministers, ten and ten, so everybody has a dance partner

The New York Times dedicated an article to Chilean President Michelle Bachelet whom she describes as among a handful of Latin American leaders, including President Lula da Silva of Brazil, whose handling of the crisis has strengthened their popularity.


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