Copper prices rose to a ten-month record high Friday of US$ 3.73 per pound at the London Metal Exchange. This helped push the value of the U.S. dollar in Chilean money markets to new lows and led speculation about the effects this might have in the country's economy.
Nationalisation of Venezuela's banks could seriously destabilise Venezuela's economy but it is unlikely that President Hugo Chávez would carry out his threat soon, if at all, analysts said on Friday.
Until next Friday naval units from Argentina, Brazil, Chile, Spain and United States will be participating in the Multinational Exercise Unitas XLVIII in the South Atlantic.
Venezuela threatened to expel Conoco-Phillips, the US oil company, if it does not abide by the nationalization of stakes held by foreign investors in the country's Orinoco heavy oil operations.
Venezuelan President Hugo Chavez threatened on Thursday to nationalize the country's banks and largest steel producer, if they don't join the country's economic expansion plans.
Canada's Methanex, the world's leading producer of methanol and which has a gigantic plant in Punta Arenas expects to break its Argentina natural gas dependency sometime in the next three years, and concentrate on Chilean supplies, said Bruce Aitken, the company's CEO.
The Finance and Economy ministers from Argentina, Brazil, Bolivia, Ecuador, Paraguay and Venezuela decided Thursday in Quito the creation in parallel of a development bank and a macroeconomic stabilization fund to support financially the region.
Fugitive Cuban army recruits killed a military officer they took hostage early Thursday in a failed attempt to hijack a plane bound for the United States according to a release from the Interior Ministry. Two of the escaped recruits were arrested after Army Lt. Col. Victor Ibo Acuña Velazquez was killed in the aborted hijacking.
Chilean businessman Víctor Hugo Puchi, owner of the very successful farmed salmon company AquaChile, is setting his sights on southern Chile's growing tourism industry.
United States Deputy Secretary of State John D. Negroponte warned Wednesday that rejection by the Democrat controlled Congress of free trade agreements with Colombia, Peru and Panama would mean a serious blow for Washington's interests in the region.