Stories for May 7th 2008

Wednesday, May 7th 2008 - 21:00 UTC
ENAP/Methanex sign agreement to look for natural gas

Enap, Chile's government owned oil corporation and Methanex the huge methanol complex in the extreme south of the country signed this week an agreement to speed exploration and production of natural gas in the region.
Wednesday, May 7th 2008 - 21:00 UTC
Growing fears of a major eruption from the Chaiten volcano

Chilean authorities declared on Tuesday a maximum alert and ordered the complete evacuation of two towns after the Chaiten volcano, erupting nearby, increased its activity, spewing out lava and ash.
Wednesday, May 7th 2008 - 21:00 UTC
Argentina: confusing versions tilt farmers' conflict to the edge

In spite of conflicting versions over the latest round of talks between Argentine farmers and government representatives both sides agreed on a recess until tomorrow Wednesday when they will retake discussions on the sliding export levies which triggered a three weeks conflict in March and promises of more if no agreement is reached.
Wednesday, May 7th 2008 - 21:00 UTC
Argentina fisheries exports drop 15% during first quarter

Argentina's fisheries exports in the first quarter totaled 85.320 tons, equivalent to 177 million US dollars which represents a drop of 15%, volume and money; 15.422 tons and 31.7 million US dollars less, according to the latest official release.
Wednesday, May 7th 2008 - 21:00 UTC
Brazil working on idea of a sovereign wealth fund

Brazil's Finance Minister Guido Mantega announced in Brasilia that the government is working on creating a sovereign wealth fund of as much as 20 billion US dollars. The fund would help finance overseas investment and acquisitions by Brazilian companies.
Wednesday, May 7th 2008 - 21:00 UTC
US ambassador says Argentina should look at global context

United States Ambassador to Argentina Anthony Wayne warned that Argentina should “consider the international context” when taking economic decisions. However, he also emphasized that the present world economic situation had “positive elements” and offered “advantageous opportunities” for Argentina.
Wednesday, May 7th 2008 - 21:00 UTC
IMF helping Latam with second effects of food prices

IMF Managing Director Dominique Strauss-Kahn warned on Wednesday about soaring food prices and the need to cushion the impact on the poor and revealed that the fund is already advising governments and central banks in Latin America on how to limit the second-round effects of the price shocks on the poor.
Wednesday, May 7th 2008 - 21:00 UTC
WTO has no short term solution to soaring food prices

The World Trade Organisation cannot deliver a short-term solution to soaring food prices but a successful end to global trade talks would help in the longer term, WTO chief said on Wednesday.
Wednesday, May 7th 2008 - 21:00 UTC
Argentina's car manufacturing posts record in April

Argentina's car manufacturing industry posted an increase in production of 31.5% in April compared to the same month a year ago. The total number of units manufactured in April was 54.622, according to ADEFA car manufacturer's organization.
Wednesday, May 7th 2008 - 21:00 UTC
Fresh calls for Hillary to drop out of Democratic party nomination

A staunch supporter of US presidential hopeful Hillary Clinton, South Dakota Senator George McGovern called on the New York Senator to drop out of the race and let Senator Barack Obama secure the Democratic Party nomination.