Stories for October 9th 2007

Tuesday, October 9th 2007 - 21:00 UTC
Copper at its highest in 41 years and keeps rising

Current boom copper demand has catapulted the value of the metal to its highest price in more than 40 years. The Chilean Copper Commission reported that the average copper price through September this reached 3.27 US dollar per pound, highest average price since 1966, when the commodity averaged US$3.63 for the year.
Tuesday, October 9th 2007 - 21:00 UTC
UN court awards Honduras sovereignty of disputes cays

The United Nations International Court of Justice (ICJ) awarded Honduras sovereignty over four cays in the Caribbean Sea and delineated its maritime boundary with Nicaragua as part of a ruling on the long-running border dispute between the two Central American countries.
Tuesday, October 9th 2007 - 21:00 UTC
Financial support for British farmers hit by FMD restrictions

British farmers affected by current restrictions on the movement of animals imposed following the outbreak of foot-and-mouth disease, FMD, are to be given a multi-million-pound package of support.
Tuesday, October 9th 2007 - 21:00 UTC
Banco del Sur will be launched on November in Caracas

Seven South American countries agreed to establish Banco del Sur, a regional development bank championed by Venezuelan President Hugo Chavez, in an effort to expand regional trade and growth with their own resources.
Tuesday, October 9th 2007 - 21:00 UTC
Bachelet opens Latam-European social forum in Chile

President Michelle Bachelet opened the 8th annual Biarritz Forum Monday with a speech urging unity across Chile's social and political sectors. The President welcomed business leaders and government officials from across Latin America and Europe to the annual conference, held this year at the Casa de Piedra in Santiago's Vitacura borough.
Tuesday, October 9th 2007 - 21:00 UTC
Chilean exporters howl as US dollar falls to below 500 pesos

The US dollar continued on Tuesday its rapid erosion and closed at 498 Chilean pesos, its lowest value against the local currency since 1999. So far this year the Chilean peso has appreciated 6.41% against the US dollar compared to 3.95% for the twelve months of 2006.
Tuesday, October 9th 2007 - 21:00 UTC
Billiton, Hess and Repsol YPF strike oil in deepwater Gulf of Mexico

BHP Billiton announced Tuesday first oil production from the Genghis Khan development, located in the deepwater Gulf of Mexico, approximately 192 kilometers off the coast of Louisiana. The Company, with co-venturers Hess and Repsol YPF, acquired its interest in Genghis Khan in February 2007 for US$1.33 billion ($583 million net to BHP Billiton).
Tuesday, October 9th 2007 - 21:00 UTC
Cristina K rejects “monetarist” and “neo-liberal” economics

Argentine Senator Cristina Fernandez de Kirchner said if elected president her administration would discard “monetarist” and “neo-liberal” solutions to combat any outbreak of inflation, which has become the main campaign issue of those opposing her husband President Nestor Kirchner.
Tuesday, October 9th 2007 - 21:00 UTC
EU farmers lobby for ban on Brazilian meat imports

The European Union may resort to a ban on Brazilian meat imports if the country does not improve food safety standards, the European Union's health chief said on Tuesday addressing members of the European Parliament.
Tuesday, October 9th 2007 - 21:00 UTC
S. Georgia annual fisheries science cruise moved to winter

In a change from the norm, the annual South Georgia government Fisheries Science Cruise was conducted in winter this year instead of the summer.