The mounting global credit crisis could develop into a financial contagion and could wipe 800 billion US dollars of value from the books of US and global financial institutions, an official of the International Monetary Fund said.
The world's largest gas company, Russia's Gazprom and Bolivia's government owned oil corporation YPFB signed this week in La Paz an accord to explore for gas in three of the country's southern fields.
Encouraged by Brazil's resurgent economy, ship builders are making a strong bid to enter the naval market in the region with an array of weaponry including submarines. A leader in naval technology, Rio-based, Emgepron (Empressa Gerencial De Projetos Navais) is displaying its products at the Doha International Maritime Defence Exhibition Conference (Dimdex 2008).
A healthy fish population could be the key to ensuring coral reefs survive the impacts of climate change, pollution, over fishing and other threats. Australian scientists found that some fish act as lawnmowers, keeping coral free of kelp and unwanted algae.
Methanex in the extreme south of Chile announced this week it will have to cut its work force in approximately 15% because of the insufficient supply of Argentine natural gas.
A controversy over the support for Argentine president Cristina Kirchner has been triggered by the publication in the Buenos Aires press of a public opinion poll which shows her rating falling six points to 47%.